What is the average price to finish a basement?
What is the cost to finish a basement? If you are wondering, “How much should I budget to finish my basement?” you can plan on a range of “$2,800 to $33,985 with the national average at $18,395,” according to Home Advisor. They also provide a handy calculator to give you a ballpark on price.
How to manage the cost to finish a basement?
How to manage the cost to finish a basement?
- Keep things as basic as possible. Put the Pinterest account down. ...
- There is a lot of room. Choose a floor layout with lots of windows.
- Carpeting is a good option. Flooring can account for a significant portion of your budget, with prices often ranging from $1,500 to $4,500.
- Investigate do-it-yourself (but use caution)
How much would it cost to finish my basement?
Finishing a basement typically costs between $7 and $23 per square foot with an average of $25 per square foot. Most homeowners can expect to pay from $2,800 to $33,985, or $18,395 on average, for a 400 to 1,500 square foot space.
How much does it cost to dig out a basement?
Digging a basement for new house construction can cost $500-$10,000 or more, depending on location and what is included. For example, an owner-builder[ 2 ] reportedly spent $790 to dig the basement hole (with pouring concrete footings, foundations and a basement floor adding another $8,800 ).
Is it cheaper to build up or finish a basement?
Generally speaking, building up tends to be less expensive than a basement. That said, not too long ago, lumber was at an all-time high and basements were the better option. Check with your builder and they can advise you on the pros, cons, and cost of each.
How much does it cost to drywall a 1000 sq ft basement?
$15,000Average Cost Per Square Foot to Finish a BasementSize (Square Feet)Average Price800$12,0001,000$15,0001,200$18,0001,500$21,3503 more rows
What costs the most when finishing a basement?
Unless you plan to DIY, labor will make up approximately 40% or more of your basement remodeling costs. You'll likely want to hire a general contractor to help oversee the job....Labor.Type of WorkCostPlumbing and fixtures$2,500 - $15,000Insulation$1,500 - $4,000Drywall$1,000 - $3,000Paint$1,250 - $3,5008 more rows•Apr 19, 2022
Is finishing the basement worth it?
Many people wonder if finishing their basement is worth the time, effort, and money to remodel their downstairs space. To answer that directly, yes, finishing your basement will almost always increase the value of your property. The standard return is around 70%, according to Remodeling.HW.net.
Can you finish a basement yourself?
The basic steps to finish your basement include insulating walls, choosing flooring and adding a ceiling to transform your lower level into an additional living area....The Materials You'll Need:Foamboard adhesivePolystyrene foam insulationDuct tapeFraming nailsWall screwsDrywall3 more rows•Dec 19, 2018
How do you make a unfinished basement livable?
10 Affordable Unfinished Basement Ideas10 Ideas for your Unfinished Basement.1 | Hide Mechanicals. ... 2 | Install Electrical Outlets. ... 3 | Deep Clean the Basement. ... 4 | Add Overhead Lighting. ... 5 | Paint the Exposed Ceiling. ... 6 | Paint the Basement Walls. ... 7 | Paint the Basement Concrete Floors.More items...•
How much value does a basement bathroom add?
Adding a basement bathroom can increase your home's resale value by 10%-20%. It also can turn a wasted space into an enjoyable addition to your home. The average basement bathroom will cost $3,000-$25,000, depending on the existing plumbing and condition of your basement.
How can I cover my basement ceiling cheaply?
A super easy DIY option for your basement ceiling is glue-on tiles. Typically made of polystyrene or fiberboard, these tiles come in a variety of colors, sizes, and styles, and are also paintable. You'll need to install a foundation, like plywood, to glue them to. But after that, it's as simple as glue and stick.
How much should I charge to frame a basement?
It costs an average of $1,200 to frame a basement, with a typical range of between $500 and $1,600. It can cost as little as $250 to frame a small basement and as much as $4,000 for a large one. There are three types of basements: masonry wall, poured concrete, and precast panel.
What qualifies a basement as finished?
So, what constitutes as a finished basement? A basement is finished when the entire level is complete and similar to the upstairs living areas. It generally includes an electrical system, heat, finished floors, an accessible entrance/stairway, level ceilings, and finished walls.
Do basement bedrooms add value?
Because basement bedrooms are not accounted for in the gross living area space, they are valued separately as an additional line item on an appraisal. As such, you can expect the value of a basement bedroom to be in the range of 50%-70% of the value of a traditional above ground bedroom.
How much value does an unfinished basement add to a house?
The appraised value of finished basement space is generally 50% to 60% of the value of the main level square footage. To maximize the cost/value ratio, the market experts recommend keeping the basement budget below 10% of the existing home's value. Staying between 5-10% is a good plan.
How much does it cost to drywall 1000 square feet?
The national average cost to install drywall is between $1,600 and $3,500, with most homeowners spending around $2,000 on 1,000 sq. ft. of standard ½” drywall, hung and finished in a remodel. At the low end, you can install 500 sq.
How much drywall do I need for a 1000 sq ft house?
After you find the square footage of drywall needed, simply divide by the square footage of the sheet size you will be using to find the number of sheets needed. For example, if your wall surface is 1,000 square feet and you're using 4′ x 8′ sheets, then the number of sheets needed is 1,000 ÷ 32, or 31.25.
How much does it cost to finish basement drywall?
The Average Cost of Basement Improvement Projects Permits: The cost will vary, but in general, permits cost between $100-1500. Framing: You should expect to spend about $1 per square foot to frame your basement. Drywall: It costs around $1.50 per square foot to hang drywall in your basement.
What is the average cost to hang and finish drywall?
Drywall installation costs $1.50 to $3.50 per square foot, depending on the ceiling height, drywall type, and level of finish. Drywall costs $0.50 to $0.80 per square foot for materials. The labor cost to hang and finish drywall is $1.00 to $2.70 per square foot. The cost to drywall a 12x12 room is $580 to $1,800.
Does a finished basement have to have an egress window?
Yes, most finished basements require an egress window to be considered up-to-code. Egress windows are one of several requirements that a finished b...
Can you finish a 7-foot basement?
Most area building codes require a finished basement to be 7 feet tall. To achieve this, the unfinished basement will need to be taller than 7 feet...
How much does it cost to finish a staircase?
Many unfinished basements also have old, creaky stairs without risers. The cost to install a finished staircase ranges from about $2,000 to $5,000....
Will finishing my basement increase my home’s resale value?
It’s hard to say how finishing a basement will affect your resale value. Appraisers who use Fanny Mae’s book won’t count finished basements at all....
How much does a basement permit cost?
A building permit can cost about $1,350 on average. The price depends on your geographic location, basement size, and the scope of the project. The price of a permit usually includes any required inspection fees. If your basement project involves plumbing or electrical work, or it entails making the space livable, you’ll need a permit. Plumbing and electrical work need to be up to code to ensure proper drainage and prevent blown fuses, short circuits, and fires. Beginning a basement remodel without a permit risks being issued a stop-work order from the city and paying fines and additional fees. You may even have to remove the unpermitted work before you can resume the work. If you ever need to file an insurance claim on the remodeled area, the insurance company may request copies of the work permits, or they might deny the claim. The process of selling the property may also require copies of any remodeling permits. It’s always better to acquire the necessary permits when beginning a basement remodel.
How much does it cost to install electrical wiring in a basement?
Electrical work for a finished basement averages around $1,325. Many cities do not allow homeowners to install wiring or plumbing on their own. A professional electrician or a contractor who is licensed to do electrical work will install new wiring to finish a basement. Expect to pay $75 to $500 to install electrical outlets. On average, the more outlets and switches installed, the cheaper the cost per item. Don’t forget the cost of a permit and inspections to make sure the electrical work is up to code.
Why do you need to finish a basement?
Finishing a basement will help you and your home become more energy efficient. An unfinished basement typically allows air to escape and enter the house, and this will affect heating and cooling costs. Drywall, insulation, and new flooring will help keep the temperature regulated so your HVAC system doesn’t have to work overtime to keep the space cool in the warmer months and warm in the wintertime.
How much does it cost to install a sump pump in a basement?
The type of soil surrounding the home will determine the need for a sump pump, as certain soil types don’t drain as effectively as others. If you live in an area prone to flooding, a sump pump might be necessary as well. The average price for a sump pump installation is $575.
How much does an egress window cost in a basement?
An egress window provides an alternate escape route from the area in case of a fire or other emergency. An egress window costs $3,900 on average, and the egress window must be up to code.
What to consider when finishing a basement?
When finishing a basement, one big concern is compliance with local building codes. The electrical system in your home must be able to handle the increased demand from the finished basement. Your contractor should know if the current amperage, or strength of the electrical current, is strong enough. If it’s not, you’ll have to upgrade the amperage or install a subpanel. If you’re turning the basement into a bedroom, you’ll need a separate emergency exit (either a door or an egress window, which will have to meet specific measurements). A contractor will be aware of the codes and ensure the project is compliant and safe.
What is a partially finished basement?
A partially finished basement is sometimes called a half-finished basement. It could contain bathrooms, showers, a laundry room, exercise equipment, or furniture. It may have some drywall installed, rough-in plumbing, insulation, and heating and cooling.
How much does it cost to finish a basement?
Your basement will probably also need to pass a safety inspection. Budget approximately $1,600 for the necessary permits and inspections.
How much does it cost to install stairs in a basement?
Many unfinished basements also have old, creaky stairs without risers. The cost to install a finished staircase ranges from about $2,000 to $5,000. The cost of railings depends on the material (metal, wood or glass) and style you choose.
How much does it cost to hang drywall in a basement?
Hanging drywall in your basement costs about $2,000 and transforms it from a cold, concrete block to a comfortable living space. Contractors typically include the cost of installation in the roughly $15 per-panel price. For a warm, dry basement, you’ll want to install waterproofing and insulation underneath the drywall.
How much does epoxy cost per square foot?
Epoxy has become a popular, waterproof flooring solution used in basements and garages. It costs about $3 to $7 per square foot and takes one to three days to pour and cure. The final product can look like a vibrant custom color or mimic marble.
How much does a dry wall ceiling cost?
Drywall ceilings start at about $1,600, or $2 per square foot. Basement bands or music lovers should invest in acoustic ceiling tiles which average about $4 per square foot. Drop ceilings average $3.50 to $4.30 per square foot. This allows for easy access to the HVAC and electrical systems.
How tall is a basement?
Most area building codes require a finished basement to be 7 feet tall. To achieve this, the unfinished basement will need to be taller than 7 feet. Request a consultation from experienced local contractors to see if your basement is eligible for finishing.
Is basement below grade worth it?
While you’re adding comfortable square footage by finishing your basement, below-grade space doesn’t add as much value as square footage added at or above ground level. In order to be appraised as “livable,” finished basements must meet several building code guidelines including ceiling height, egress windows and more.
How much does it cost to finish a basement?
The cost to finish a basement will vary greatly depending on your location, current state of your basement, type of materials, and any extra features you want to incorporate like a bathroom, bedroom, or movie room. On average, homeowners spend anywhere from $22-$50+ per square foot when finishing their basement.
Basement finishing cost breakdown
Hiring a trusted and high-quality basement contractor will likely be one of your biggest costs. You could spend anywhere from $25-$100 per hour for labor. The price of a contractor will vary based on your location and the scope of your project. For example, a quote from a contractor in New York, NY is likely very different from one in Omaha, NE.
Optional basement remodeling costs
Some homeowners may want to add a bathroom or bedroom when finishing their basement. Here is a price breakdown of some common features you can include in your basement remodel.
How to save money during your basement remodel
Finishing your basement can get expensive, fast. Here are some easy ways to save money on your basement remodeling project while still creating the basement of your dreams.
Steps to finishing a basement
Now that you know how much it costs to finish a basement, you may be wondering how to get started on your own basement remodel. Here are the first 4 steps to finishing a basement.
Does a finished basement add value to your home?
If you’re wondering if finishing your basement will be a good investment and increase your home’s value, the simple answer is – most likely.
How much does it cost to finish a basement?
Overall, the cost of finishing a basement is between $10,000 and $35,000 . This usually equates to somewhere between $25 and $90 per square foot (depending on the level of material quality you’re expecting).
How much does it cost to cover a basement floor?
The cost of basement flooring is usually between $500 and $5,000, depending on the square footage of your space and the quality level of the material you choose. If you choose wood flooring, prices can get even higher. There are a variety of options you can use to cover the floor. These include the following:
How many treads are there in a basement?
A standard set of basement stairs descends one story, has 13 treads, and is made of pine.
How much does it cost to replace a basement stairs?
To replace your basement stairs, it will cost between $850 to $3,000. There are also pre-made staircases available to purchase for around $1,000-$2,000. Our basement stairs guide has detailed information on all of the basement stair options and costs.
How much does it cost to drywall a room?
For framing, you can expect to pay roughly $1 per square foot for all the wood and hardware you will need. For drywall, you’ll pay around $1.50 per square foot for materials.
How much does it cost to add a bathroom to a basement?
The cost of adding a bathroom will come in between $3,000 and $25,000. You may also need to install a sewage ejector pump, which will cost from $800 to $1,450 for parts and installation. For more information on installing a bathroom in your basement, see our guide on the cost to add a bathroom in the basement.
Why is breaking down the costs useful?
Breaking down the costs is useful in helping you see where you can potentially save money. The basic cost of finishing a basement will involve the following:
What is the cost of finishing your basement?
The cost to finish a basement varies significantly depending on depending on your geographical location, the basement’s size and whether you’re hiring a professional versus doing the work yourself.
Remodeling a basement vs finishing a basement
Although homeowners often use the terms interchangeably, there’s a big difference between finishing a basement and remodeling one. Understanding how the construction pros define the two can save a lot of confusion and money.
Factors to consider in the cost of finishing a basement
Not every basement finishing project is the same. So you have to evaluate your finances, needs and aims.
Saving money on your basement finishing
Home improvement projects can be pricey, but there are ways to cut back on costs without sacrificing quality.
How to pay for finishing a basement
Even if you have the money available in savings to cover your basement remodel costs, you may want to consider financing options. There are a variety of loans, including home improvement loans, that may help you finish your basement without depleting your emergency savings.
How much value does finishing a basement add?
Converting a basement into a living area typically returns 64% of the project cost, according to the National Association of Realtors’ Remodeling Impact Report. But in terms of intangible value, it can add a lot more.
Next steps in finishing your basement
Before embarking on a basement finishing project, do your homework. This includes researching comparable homes in your neighborhood and requesting estimates from multiple contractors. You’ll also want to contact your local municipality to make sure you’re aware of the permit and inspection process.
Breaking Down the Costs of Finishing Your Basement
What’s included in the costs of finishing your basement? According to basementguides.com, here are the averages:
Types of Basement Finishing
There are three types of basements when it comes to finishing, that can easily be categorized: unfinished, partially finished, and finished.
How Much Does Finishing A Basement Increase The Value Of Your Home?
Homebuyers are often willing to pay more for a property that has a basement finished.
How many sq ft is a basement?
1) Approx. sq. ft. of basement space to be finished: * 500 to 600 sqft.
Is labor included in basement cost?
The Basement Cost Calculator below assumes that you are completing all phases of the finished basement work yourself. No contractor labor is included, just the material costs to complete your basement project are included in the cost calculator estimated price.
How much does it cost to remodel a basement?
Thumbtack, a company that offers skilled professionals in over 1,000 home-related services, puts the average cost of finishing a basement between $5,100 and $8,750 nationwide , whereas the addition of an above-ground room can cost from $10,000-$80,000 or more, the company notes.
How much value does a finished basement add to a home?
It can be tricky to determine exactly how much value a finished basement will add to your home at resale, but with the right execution, finishes, and design choices, you can expect around 70% ROI. A finished basement won’t always add “official” square footage to your home, but it can add value to future buyers.
What is included in basement refinishing?
That assumes your basement refinish includes exterior wall insulation, painted drywall for the walls and ceilings, painted trim, tile flooring (the works, but nothing overly luxury) as well as a bar, bathroom, and main area.
How much does a radon test cost?
A professional test can run anywhere between $150 to $800 and will give you the information you need to move forward. Radon mitigation projects (which will vary based on your home’s construction, design, as well as your local climate) make it possible to still finish out the basement as planned.
How much does it cost to put down a concrete patio?
“Just pour a nice concrete pad and plant some flowers and a little garden.” Simple concrete slabs can cost between $3-$6 per square foot to install and don’t require much upkeep. However, highlighting outside access in an otherwise underground basement can make the space feel much bigger.
How much money can you get back from a basement refinish?
Let’s cut to the chase, based on the available data: For about every $1,000 you put into a basement refinish, you can expect to get about $700 back.
How many bedrooms should I add to my basement?
To maximize ROI in your finished basement, Jones recommends “adding at least one bedroom and bath while keeping everything as open as possible.” The open space will give buyers the ability to envision themselves there, but adding a bathroom and bedroom can raise the value of the below-ground square footage.
