In the average home, the basement might just be the space with the most potential. A thorough remodeling job can transform the space, turning it from functional into a centerpiece of the house.
Remodeling your basement is a big job potentially involving many different parts: moving or building walls, installing floors and window coverings, and furnishing. Accounting for variables such as square footage, materials, electrical and plumbing, the average basement remodel ranges from $10,803 and $27,842. Some cost as little as $5,000, with top of the line remodels costing over $40,000. The average cost to homeowners is $19,230. Expect to spend between $10 and $35 per square foot depending on the changes made.
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The cost of a basement remodel can be significant, but your potential return on investment is just as considerable. In addition to adding to your living space, the average basement remodeling project also increases your home's resale value. The National Association of Realtors considers basement remodels to be among the most valuable home renovations.
Importantly, these costs and benefits apply only to remodeled basements that are already finished. Finishing your basement is a separate project, and will cost the average homeowner an additional $3,000 from beginning to end.
Installing a bathroom in your basement can significantly increase its functionality. Of course, it will also add to the costs of your basement renovation. Some cost factors to consider include:
You will need to connect your bathroom to both water supply and sewage lines. Cost factors include materials, hiring a plumber, and potentially opening up walls to access the necessary areas.
You need to make sure that everything built and changed during your renovation is approved. Fees to acquire these permits range between $100 and $3,000.
After your new bathroom is complete, or you have remodeled an existing space, get it inspected to ensure all plumbing and electrical installation are done correctly. If your bathroom needs to be installed from the ground up, expect to pay somewhere between $6,000 and $15,000 for the entire project. If your basement is already finished but does not yet have the necessary plumbing for a bathroom in the space, you can expect to pay between $200 - $500 to hire a plumber.
Of course, you can decrease these costs if you decide to only install a powder room in your basement. In that case, you will not need plumbing for a bathtub or shower, decreasing both costs and time of installation.
If you choose to divide a large space into separate rooms, remodeling your finished basement might include framing work. Several elements will impact the cost to frame these rooms during your basement renovation:
- Demolition and cleanup of existing walls, if needed.
- The size and square footage of the rooms to be framed. The more walls are required, the more expensive the project will become.
- Potential insulation for exterior walls or soundproofing. Soundproofing a room tends to cost between $1,000 and $3,000.
- Cost of additions if your new space exceeds your old space in size.
- Electrical work or fixtures installed in the new walls, both for materials and the labor by a licensed electrician. Expect to spend between $50 and $100 per hour to hire a professional electrician.
A variety of nuances play into both the costs and your exact needs for framing new walls and rooms within your finished basement. For more, refer to this detailed guide on adding framing to your remodeling project.
Find A Basement Remodeling Contractor
After new walls in your basement are framed, drywall must be applied before a room can be finished. Here are some considerations to keep in mind if you want to add new drywall to an existing, finished basement:
Drywall panels are available in a variety of shapes, depending on your needs. A standard 8' by 4' panel costs between $10 and $20, depending on its thickness (between 1/4 inch and 5/8 inches) and the brand.
Generally speaking, most homeowners spend about $1.50 per square foot for their drywall installation. Of course, these costs can range based on the professional you choose and the area in which the drywall needs to be installed.
Depending on your needs, you might want to texture your drywall or add a sound dampening texture to it. In that case, expect your costs to raise slightly; soundproofed drywall, for instance, costs around $50 per 8x4 panel.
In the course of your basement renovation, you will come to a point where you need to consider your ceiling finishing options. Here, you can choose whether you want to use drywall as well, or go with a drop ceiling instead. Some points of consideration include:
- Cost. On their own, drop ceilings tend to be less expensive to install than drywall ceilings. However, if the framing is already in place, a drywall ceiling could actually be more cost-effective. The average cost is about $1,250 for a drop ceiling installation in a 10' by 12' room, and about $1,500 for a drywall ceiling.
- Design. Drywall ceilings are typically painted in accordance with the rest of the room, emphasizing simplicity. Drop ceilings, on the other hand, open more design possibilities to turn the top of the room into its center piece.
- Access. Drywall is permanent, meaning access to wiring or pipes above it can become difficult. Drop ceilings offer better access. At the same time, they also reduce the headroom for anyone standing or spending time in the room.
Of course, you are not limited to remodeling your basement in a way that adds basic rooms or a bathroom. In addition, you can also add a number of other renovations to transform the space.
A wet bar in your basement can turn it into the central entertainment space of your home. Depending on the size of the bar, the appliances included, and the countertop material, expect to spend between $2,000 and $12,000 on your wet bar installation.
Your basement will likely need to be fitted with additional wires to support more lights and electronics. You will need to hire a licensed electrician if you plan to install additional overhead light fixtures, outlets and other components that require additional wiring. The cost of electrical installations depends on the exact project, but licensed electricians tend to charge between $50 and $100 per hour.
A home theater is the ultimate solution to watching sporting events or movies with guests and family. Installation of a mounted 48-inch TV with appropriate wiring and seating will cost about $1,300. At the same time, a full theater with digital sound, projector and screen, and custom seating can cost as much as $16,500.
Find A Basement Remodeling Contractor
According to the National Association of Realtors, remodeling your basement is among the most valuable investments you can make in your home. In fact, finishing the space alone brings with it a 69 percent return on your initial investment.
Once you add some of the custom features above, that return on investment can rise even further. Some realtors, for instance, consider adding a bedroom to add about $100 per square foot to the value of the home. According to that estimate, a new 12x12-foot bedroom in your basement raises your home's value by just under $15,000.
Adding a bathroom or extra living space comes with similar value improvement. And that doesnt even consider the additional joy you and your family will get out of the new space, or the increased speed at which a home with a wet bar or home theater in the basement might sell on the open market.
Make no mistake: a basement remodel is a major project. An understanding of the variables above can give you a better understanding of what awaits you, and how to plan for it.
You can customize your renovation with your budget and preferences in mind, ultimately arriving at a better basement for both residents and visitors. Considering the improved resale value thanks to the renovation, a well-planned and executed remodel will be well worth your investment.
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In my area,I do a lot of finish basements and average about $12 sq ft for basements over 800sq ft,and $15 a sq ft with a 1/2 bath added.Smaller basements cost more per sq ft due to fact that I can do an 800 sq ft basement in same amount of days as a 400-500 sq ft basement.So I have same amount of days invested just some shorter days,but not enough time to get to other projects in same day.Keep this in mind when designing your basement.You'llget more for your money the bigger area you finish
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Used this website to get basement finishing budget in my area, which estimated an average $18,000 for project = $26 per square foot for 600 sq ft (incl bathroom). Used this website to obtain 4 pre-screened contractors, called two of them for quotes. Just received the first for $30,000 = $50 per square foot for my 600-square foot basement. WHAT? The contractor told me I was out of my mind to think I could get any basement finished for what HomeAdvisor shows, so now I don't know how helpful this website is, how can it be off by a factor of 200%? I'll get 2 more quotes and update this post later. Not happy right now...
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This page was so helpful. It helped by raising points that maybe I had not considered. I now feel confident in the project that I plan to undertake.
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Yes, gave the info I needed. Thank You
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Info very helpful, this is just what I needed.
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It will give me a place to start.
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i just need someone to do my basement only painting and taping i can do the rest could someone tell me how much will cost me just for that
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Not helpful without a local estimate.
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The information on the cost of remodeling a basement was helpful. Now I can start looking into bids and know if it's a good estimate for the job.
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The information on cost was very helpful. I now have an idea on whether a contractor is giving me a fair estimate.
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Positive information when trying to figure out what needs to be done and the potential costs involved.
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Very informative information for the planning process
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Does these estimates include fixtures like cabinets and bathroom toilet, shore and vanity
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Information provided is very informative.
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Thank you it has help me make my mind up on how much it'll be.
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