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Plus, we show you the ROI on your renovation and options for saving money or making more luxurious selections.
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Want to remodel basement, or convert it into a usable room? You could turn this otherwise underutilized storage space into a guest bedroom, a home office, or a fully finished entertainment space. The first part of your planning is getting an estimate for the basement remodel cost. Once you have that figured out through a basement finishing cost estimator, the home improvement project will have a better chance of running smoothly without a glitch.
The average cost to remodel basement runs to about $21,578 - with homeowners spending anywhere between $12,230 and $150,000. The reason for such a huge price range is that your basement remodel cost will vary depending on the scope of work, the size of your space, the total material cost, labor cost, and what you want to transform your basement into.
For instance, remodeling a 1,000 square feet basement complete with a wet bar and a full bathroom can cost you $70,000. Larger basement remodeling projects with high-end finishes and conversion options can cost you about $150,000. Smaller basements (anything under 700 square feet) cost between $9,000 and $50,000. That translates to about $50 per square foot. The reason is that you can only add minimalist design additions such as a family den, a half bath, a basement kitchen, or a guest room when you're finishing a basement.
The average per-square-foot cost for a basement remodel comes to approximately $30 to $75 per square foot for a standard-size home. You can expect to pay $150 per square foot if you're looking for high-end finishes and upgrades in your basement renovations.
The total cost varies with the type of room you want. For example, a basement bathroom may cost $125 per square foot while adding a living room to your basement may cost you $30 per square foot.
If you want to turn your basement into a full-fledged apartment, you'll have to shell out anywhere between $50,000 to $100,000. A cost of finishing a basement calculator will give you the approximate cost estimate depending on the inclusions you want to make for the project.
The average cost of basement renovation varies depending on a number of factors:
The labor cost to finish a basement runs to $16 per square foot on average. This comes to about 30% to 40% of your total remodeling cost. For example, the labor cost to finish a basement that's 500 square feet will come to around $8,000. This amount covers the cost of hiring professionals such as carpenters, plumbers, electricians, and general laborers.
If you have a particular room design or floor plan in mind, you can make your basement the ultimate comfort room in the house. Here are some ways homeowners have renovated their basements.
The type of basement conversion or basement renovation you want will determine its final pricing. Here are a few inclusions that you may require:
Although a bathroom addition in the basement is not an easy task, it's worth the effort and expense. Keep in mind that it will increase your home value significantly. You'll need to move around plumbing pipes and install a sewage pump as well as a backwater valve to ensure proper drainage. Also, take measures to prevent moisture issues with a dehumidifier and vented fan system while following the building codes.
Here are some bathroom inclusions with their average costs:
Our basement remodel cost estimator is a free tool that helps you calculate the cost of finishing a basement and turning it into a standard room. Simply enter your specifications to get an estimate of your total basement renovation cost, instantly! Armed with a realistic budget for your basement renovation project, you'll have a definite advantage before the construction work begins.
The basement finishing cost calculator tool is easy to use. It uses relevant data such as the type of renovation you want, your zip code, and the project size to arrive at an estimate to remodel basement.
(Your location helps us give you a better cost estimate as we can keep a track of the labor and material prices, permit history, and similar basement renovations in your neighborhood.)
Get your personalized project cost estimate! What's more, you can customize the price estimate according to different basement finish levels and whether you plan to hire a general contractor or not.
A finished basement improves the look, value, and comfort level of your home. What's more, if and when you decide to sell your house to potential buyers, they'll love your creative basement remodel ideas and basement renovations.
Getting a cost estimate for your basement conversion will give you a fair idea of how much of an investment you'll require for this type of home renovation. It will help you organize your home improvement project better - effectively managing all the milestones and your budget.
A free cost estimate is also the best way to ensure that there aren't any unpleasant surprises and unplanned expenses during the execution of your basement remodeling project. Finishing a basement cost estimator will help you plan your home improvement project better.
There are technical differences between basement remodeling, basement renovations, and finishing a basement. While remodeling changes the look or function (or both) of a space, renovating is more like restoring it to its best version by keeping the structural elements intact. Finishing a basement refers to taking it from bare concrete to walls, ceilings, and floors.
Since finishing a basement is all about creating a livable space in an otherwise unused and uninhabitable basement, you'll have to complete the following tasks:
Remodeling or updating an already finished basement may include knocking down walls, adding rooms, or adding a basement kitchen or a bathroom.
Needless to say, finishing a basement is more expensive (25% to 30% costlier) than a typical basement remodel.
However, if you're making major changes such as changing the basement layout, taking down or building walls, moving plumbing, or upgrading the heating and cooling system, the cost difference may not be much.
Whether to make your basement renovation a DIY project or not depends on your skill and experience level. Keep in mind that you'll need the right tools and equipment to remodel basement. Hiring a pro is a good idea for larger projects such as a bathroom renovation or any remodel that involves plumbing or electrical work.
A licensed plumber will generally charge you $80 to $130 per hour while an electrician will charge $50 to $100 per hour to remodel basement.
Hiring an interior designer will cost you between $2,000 to $13,000. They'll help you with the basement layout and practical design plans. What's more, they'll guide you with materials and upgrades to fit your basement remodel budget, lifestyle, and home design.
Basement conversion or basement remodeling, if done right, can make your house more marketable - apart from adding more living space to your floor plan. An extra bedroom, an exercise area, or a furnished media room will not only appeal to potential home buyers but will also make your life more convenient. Keep in mind that an unfinished basement may rightly come across as wasted space.
A finished basement, on the other hand, increases your home's value, offering a great return on investment (ROI). All you have to do is decide what kind of space will complement your family's lifestyle, and if it will fit into your remodeling budget. Planning to remodel basement is definitely a wise decision.
Experts believe that remodeling a basement increases your home's value by almost 70% of the investment you put into it. Having said that, it's important to keep the quality of your basement consistent with the rest of your home for the best ROI. That is to say, you don't want to use a high-end granite countertop in your basement and have a laminate countertop upstairs.
Before you begin the basement renovation, you need to prepare the space. Here are a few things you can ensure:
You must plan your basement remodeling project well in advance. Its success depends on having a plan and sticking to it.
Here are a few tips to make the process easier for you:
According to experts, you can expect a 50% to 70% return on your investment for most remodels.
To save money, you can complete a few projects such as demolition, cleanup, and painting yourself instead of hiring professionals. Also, if you have a tight budget, you can opt for low-cost materials and finishes.
For a 600-square-foot basement, the cost to remove the old walls and flooring runs from $1,900 to $8,700, and for a 1,200-square-foot basement, the cost is from $3,400 to $11,900 or more. You may expect to pay an extra $3 to $11 per square foot for a thorough demolition of the existing walls, stripping back to the framing, and tearing up the current flooring. The project charges may vary depending on the scope of the remodeling and the construction team's ease of access.
For the best type of basement flooring, you can choose vinyl flooring (both vinyl plank and vinyl tile). This flooring material can be made to mimic hardwood floors with the added advantage of being waterproof.
You may consider installing steel floor joists and cross-bridging to protect the floor from moisture issues. Whether you use vinyl or laminate flooring, it's best to install it as a floating floor. This will allow for any changes and shifting in the concrete caused by moisture and temperature fluctuations.
The average price of basement flooring ranges between $1,500 and $4,500 - depending on the size and type of basement flooring. For example, the average cost of 500 square feet of basement flooring comes to $3,000.
For hardwood basement flooring, you can expect to pay up to $22 per square foot and for laminate or carpet flooring anything between $3 and $11 per square foot.
When it comes to basement flooring, it's important to install moisture barriers to protect it from damage.
Keep in mind that it costs around $2 per square foot to score and polish the concrete floor of an existing basement. And, $3 or more to paint the floor with epoxy.
A floor covering such as hardwood, engineered wood, linoleum, or tiles will need subfloor installation. The cost can run to $2 per square foot for plywood and $3 to $4 per square foot for wood flooring joists.
The average cost to finish a basement ranges from $6,500 to $18,500 while basement remodeling cost ranges from $10,000 to $30,000 depending on the size, type, and installation costs.
You can begin finishing a basement by installing insulation, followed by framing the walls, adding the utilities, mounting the drywall, and completing the paint job.
Water leaks can lead to mold growth, foundation cracks, and insect infestation. And most importantly, serious health issues. That's why it's crucial to waterproof the basement walls and floors.
Fixing basement leaks cost about $1,500 to 15,000 - depending on the scope of the renovation work. Basement insulation costs anywhere between $1,400 and $6,000, based on the basement size and type of insulation. You'll also have to factor in labor costs of $0.25 to $0.50 per square foot.
A basement may be susceptible to damp conditions and mold growth. A basement space that's not waterproof may lead to cracks, insulation issues, ventilation problems, excessive moisture, and poor drainage.
Here are some expenses you may have to deal with:
A bathroom in the basement adds to your convenience - making the space more livable. It increases your home's overall market value as it can be a good selling point for potential home buyers. Experts believe that a basement bathroom can add between 10% and 20% to the total value of your home.
While the cost of ceiling installation can vary from case to case, the national average is between $1 and $6 per square foot.
You can expect to pay $5,000 to $11,000 for an HVAC system in the basement. Keep in mind that new ductwork may cost you an additional $2,000 to $5,000. You may consider installing a ductless mini-split for $660 and $4,500. Here are some more HVAC options for you:
The refinishing kits for basements may cost about $30,000. That is to say, these prefabricated designer units may cost anywhere from $50 to $70 per square foot. Generally, they include all the materials you might need to finish the space - including framing, drywall that repels moisture, insulation, floor joists, and ceiling joists. Some may even have flooring and windows. The good thing is that the wall panels are lockable and detachable. So, the installation is quite easy.
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