Basement Remodeling Costs Per Square Foot

Basement remodeling costs $30 to $75 per square foot for most homes. You might pay $150 per square foot for high-end finishes and upgrade options.

You’ll find remodeling multiple room prices change with the type of room. For example, bathrooms cost $125 per square foot while doing a living room runs $30 per square foot.

Small Basement Remodel Cost

Small basements, or anything under 700 square feet, cost $9,000 to $50,000. You’ll probably end up spending under $50 per square foot. Smaller basements make a great spot for minimalist design additions. Examples include a family den with a half bath or a master bedroom suite.

Finishing a Basement

Pricing options here assume you’re remodeling, not finishing. Remodeling often means demolition and reconfiguring the space. Unfinished basement completions cost $18,500 on average.

Cost to Turn a Basement into an Apartment

You’ll pay $50,000 to $100,000 on average to turn your basement into an apartment. In high cost of living areas, you might pay $150,000 or more.But expect to recover your investment in 2 to 5 years. Plus, you’ll have increased your home’s overall value.

Consider these costs for your apartment conversion:

• Kitchen installation costs $5,000-$30,000 for most apartment sizes. It’s not a fully functional rental unless it has a kitchen.
• Basement walkout doors cost $2,500-$10,000. For a standalone apartment, you need to make sure it has its own entry, separate from your living area upstairs.

Basement Remodeling and New Room Addition Costs

Putting these larger addons in a basement sometimes means adding more room. If you’re looking to build a new basement or expand what you have, you’ll likely need to tack the following onto your budget.

• Raising your house costs $3,000-$9,000.
• Foundation installation costs $20,000-$100,000 for a foundation under an existing home.
• Crawlspace conversion pricing $60,000-$150,000.
• Addition building budget $20,000-$70,000.

Adding a Bathroom

Bathroom remodels cost $6,000 to $15,000 on average. A master suite might run $25,000. If you don’t have plumbing installed, you’ll need to hire a plumber for $80 to $130 per hour.

Adding a Bedroom

Bedroom remodeling costs $3,500 to $10,500. Most of the price comes from the walls, flooring and paint. To call a room a bedroom in a basement, you’ll need a closet and an egress window.

• Below-grade egress window installs costs $2,500-$5,000.
• Closet installs cost $1,000-$3,000.

Building a Home Theater

by Perfect Sound & Installation Co., LLC, a home theater installer in West Springfield, MA. Users report a typical range of $11,500 to $29,500 to remodel a basement in West Springfield.

A home theater room costs $300 per square foot. That price includes soundproofing, theater seating, and a large screen, projector and sound system. Without a purpose-built room, you’ll still want wiring and some soundproofing.

• Home theater wiring costs $200-$800. Many modern setups often have wireless options.
• Soundproofing a room costs $1,000-$2,500.

Adding a Wet Bar

Wet bar installation costs $6,000 to $22,500. It turns a living space into an entertaining space. Having the drinks close to the party lets you both host events and participate in the fun. You can purchase premade bars or have custom work done.

Steam Room and Sauna Installation

Sauna installation costs $3,000 to $6,000 with steam room costs running about the same. You can buy a premade plug-in sauna for $2,000 to $5,000.

Saunas use dry heat. Steam rooms hit 100% humidity and require plumbing and waterproofing.

Home Gym Installation

Home gyms cost $500 to $25,000, all depending on your training goals and budget. You can start small with something like dumbbells on a bare concrete floor for under $500. For $10,000 and up, you can have hardwood floors, full-length mirrors and exercise machines.

Fireplace Addition

Fireplace installs cost $1,000 to $4,000. Most of the cost comes from the fireplace and the addition of a new chimney pipe.

Basement Remodel Cost Breakdown

Hiring a Designer

Hiring a designer costs $2,000 to $12,500. They’ll help you layout the space for both form and function. They’ll point you towards materials and upgrades that fit your budget and home’s design.

Permits & Inspections

Permits cost $100 to $2,000. Inspections usually come included in the permitting price. But you may want to hire other inspectors for specific purposes, including:

• Drainage and gutter inspections: Usually free. Poor drainage and bad gutters quickly lead to water damage in your basement.
• Gutter cleaning costs $100-$250.
• Lead testing costs $300-$500.
• Radon testing costs $150-$800.

Waterproofing

Waterproofing your basement costs $2,000 to $7,000. It’s not always necessary, but it’s not a bad idea to have a professional look at it before building. It costs far less to waterproof before finishing your walls or during the remodel than having to come back later and rip out walls.

Framing

Framing a basement costs $5 per square foot. Adding a single wall costs $1,000 to $2,700. In most finished basements, you’ll only need to worry about adding a wall or two. After framing and before adding drywall, you’ll want to add electrical, plumbing and insulation.

Wiring & Electrical

Rewiring your basement costs $500 to $2,500. Electricians charge $50 to $100 per hour. And for specialized upgrades, like a sauna or home theater room, you might need to add other electrical costs. Most basements need additional lighting to make up for smaller windows. You’ll also want to plan for future upgrades that might require more power, like a sauna.

Plumbing

Plumbing costs $400 to $1,800. You’ll need it for laundry rooms, bathrooms, steam rooms and wet bars.

Insulating a Basement

Insulating a basement costs $500 to $1,500, usually using fiberglass batting. A basement retains higher humidity than most other areas of your house. So, you’ll want to let the walls “breathe” so moisture doesn’t cause mold growth.

Installing Drywall & Texture

Drywall installation costs $1,000 to $2,500. You’ll only need it for new walls, not the existing finished space. Adding electrical and plumbing means you might need drywall repairs. Basement drywall repairs cost $500 to $1,000. Those fees often get included in the overall project bill.

Installing a Ceiling

You’ll spend $900 to $2,400 on average for ceilings. You’ll have a few options:

• Standard drywall ceilings cost $1-3 per square foot.
• Basement drop ceilings cost $2,000-$11,200.
• Painted basement ceilings cost $1-$3 per square foot.

Painting & Wallpaper

You’ll spend $500 to $4,500 on average to cover your remodeled walls. You have a couple choices that you can use by themselves or mixed.

• Interior painting costs $500-$4,500. It all depends on the quality of the paint and how large a space you’re covering.
• Wallpaper installation prices range from $500-$3,000.

New Flooring

Flooring installation costs $1,500 to $4,500. You’ll have a wide range of materials to choose from. You’ll want to pick something that matches your current design and budget. Always choose something that performs well in humid environments.

Basement Renovations Cost

Basement renovation costs vary quite a bit between situations. For example, in flooded homes, you’ll strip the walls, remove mold and redo floor coverings. That translates into at least $10,000. Or, you may just have an old home with damaged carpets and peeling paint. Put on a fresh coat of paint and new carpets for under $3,000.

You’ll hear renovations and remodeling used interchangeably. Renovation means to restore your basement to a like-new condition. So, you’ll probably skip new walls and rooms, opting to refinish the surfaces.

Some renovations specific costs include:

• Water damage cleanup and repair costs $1,500-$5,000.
• Smoke damage repair costs $3,000-$33,000.

Basement Remodel ROI Value

Your home’s value increases by about 70% of the investment you put into your basement. However, you don’t want to put high-end granite counters in the basement if you only have laminate upstairs. Match the quality of your basement to the rest of your home for the best ROI.

DIY Basement Remodeling vs. Hire a Pro

DIYing your basement remodel depends a lot on your experience level. And some parts of the remodel make better do-it-yourself projects than others. For example, if you have the time, hardwood floors make for a great weekend project. But you’ll need experience doing this and the tools to get it done.

Hire a pro for larger projects or anything involving plumbing or electrical, like installing a bathroom. Also ask your pro if you can do anything to reduce costs, like demo and cleanup work.

If you must call in a pro to redo anything, you’ll spend more overall. Before starting any project on your own, consult a local remodeling contractor.

FAQs

What’s the difference between remodeling, renovating & finishing a basement?

You’ll hear remodeling, renovation and finishing used interchangeably. But they have slight technical differences.

• Remodeling means changing the look or function (or both). This often means adding walls and rooms that didn’t previously exist.
• Renovating means restoring it to a like-new condition. Usually, you won’t change any structural elements or add upgrades during this process.
• Finishing your basement takes it from bare concrete to full walls, ceiling and floors.

What is the return on investment for remodeling a basement?

You’ll make 70% of your investment back on most remodels.

What is the cheapest way to remodel a basement?

Help with what you can for the cheapest remodel. Projects include demolition, cleanup and painting. Also, use low-cost materials and finishes.

How much does it cost to finish a basement?

Finishing a basement costs $3,000 to $35,000.