Basement Remodeling Cost

How Much Does Basement Remodeling Cost?

Do-It-Yourself: $500-$5,000

Average: $30,000-$50,000

Post

Comments (5)

With proper planning and attention to detail, a remodeled basement can provide living space that's every bit as attractive and welcoming as the rest of the house.

Typical costs:

Contractors' estimates should include a number of basic factors such as moisture control. Insulation is also a must and it's important to check for radon, a naturally occurring radioactive gas that is common in some parts of the US.
For $500-$5,000, Do-It-Yourselfers can waterproof the walls with a brush-on compound, then add carpeting, paneling, a dropped ceiling or other touches to make a basement into a more usable living area. Actual costs depend a great deal on what shape the basement is in at the start of the project, and whether the upgrades include such items as ground-level windows; improved lighting; a full- or half-bath; and a laundry area. The upper end of the price range includes hiring contractors to install proper ventilation, electrical wiring or plumbing.
Converting a basement into a reasonably comfortable and legal rental unit averages $30,000-$50,000, according to OldHouseWeb.com^[1] .
Nationwide, basement remodeling costs average $52,931-$74,974 for a project which includes a 20x30-foot entertaining area with wet bar, a 5-x-8-foot full bath, 24 feet of partition to enclose a mechanical area, painted walls, ceilings and trim throughout, exterior insulation, doors and electrical wiring, according to the annual cost vs. value report by Hanley Wood^[2] .
A lot depends on how much is included and the quality of the final project. Finishing a basement in a relatively new home can start around $20 -$35 a square foot, or $30,000 -$70,000 for 1,500-2,000 square feet -- but it can cost $100,000 or more to create a fully-finished space.

Related articles: Garage Doors, Home Addition, Bathroom Remodeling, Attic Remodeling

What should be included:

Finishing an unfinished basement is similar to building an addition or a new home, but generally the project is smaller and a lot less expensive. Waterproofing and insulation is key; the US Department of Energy gives a detailed overview complete with cost estimates for a range of options.
Local planning departments usually have specific regulations on ceiling height, access doors, radon ventilation, waterproofing and other details of the basement remodeling process. Many building codes now require upgrades such as residential fire sprinklers for new construction or major remodeling projects. Ask about local requirements and get all required permits (or make sure the contractor does this). Depending on the location, permit costs can be next to nothing or extremely expensive; find out exactly what they are and include them in the project's budget.
Foundation walls and floors are almost never straight and plumb, which can make remodeling difficult. Companies such as Owens Corning^[3] and Basement Systems ^[4] sell complete basement-finishing systems which many contractors use.
ThisOldHouse.com^[5] looks at the remodeling process.

Shopping for basement remodeling:

Be clear about how the new space is going to be used and, if the basement is currently a storage area, where everything will go once the project is done. Better Homes & Gardens^[6] offers design ideas to keep in mind. For inspiration, ThisOldHouse.com provides a quick photo gallery^[7] of one basement's sparkling transformation.
Contractor referrals are available through the National Association of Home Builders^[8] and the National Association of the Remodeling Industry^[9] .
Get estimates from several companies; request and check references. Understand exactly what is (and isn't) included in each estimate, and whether the contractor will do the paperwork for required building permits. Ask about the contractor's length and type of experience, especially if there's anything unusual about your project. Be sure a company is properly bonded and insured and licensed in your state^[10] . See if there are any complaints with the Better Business Bureau^[11] .

Post

Comments (5)

CostHelper News

7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013

Fix-it Favorites: Duct Tape and WD-40
My mother taught me that all home fixit-projects can be accomplished with either duct tape or WD-40. If something shouldn't move and it does, use duct tape. If something should move and it doesn't, use WD-40. || Posted September 30 2013



	‣ All CostHelper Blog Posts

What People Are Paying - Recent Comments

basement totally gutted and remodeling

Amount: $25,000.00

Posted by: Hey, Neighbor in suffolk county, NY.	Posted: July 29th, 2016 12:07PM
Contractor:	Square Feet: 900

Of that amount, $15,000 on the labor cost and the rest on material. all walls demolished, cracks in the wall fixed, then insulated and rebuilt, new windows, new electricity wiring, new floor tiling, new web bar, new stairs build from scratch replacing the old. Also, built two closets, one with shelves and the other for clothe-hanging, two utility rooms, one of them where the burner is fire proofed, all walls plastered and painted, wood stained etc. The contractor worked 10 hours a day and finished the entire project in five weeks! (I cooked lunch and provided cold drinks.) could have build a bathroom for $3000, but I decided to do that another time.