How Much Does Basement Remodeling Cost?
Basement remodeling may not always be the first option that springs to mind when considering a remodeling project for your home. A kitchen or bathroom are both quality ideas that make your home that much more desirable and, therefore, increases its value.
However, if you have an unfinished basement, or it's more or less used for laundry and storage, your basement remodel will drastically boost the home's value, give you an additional bedroom, another bathroom and make your home that much more comfortable and desirable should you ever decide to sell. Before moving forward with a basement remodeling project, however, it's important to come to terms with just how much it's going to cost you...and costs car vary quite a bit!
So, here are some factors to keep in mind, just so you can start figuring out what's possible given your budget.
Remember, if you are going to work with basement remodeling contractors, you should compare at least 3 quotes from professionals. More than this could become confusing. Also, remember to check their credentials and references before you commit to doing bussiness with anyone.
Size Of The Room
The size of the main room is the major factor that will impact on the overall cost to remodel a basement. First, you need to finish the walls, ceiling, and floors. Drywall is needed to cover up the cement, coming in at an average cost of $9.80 per 4'x8' panel, totaling around $500.
Fiberglass wall insulation may be an option too. This can cut down on some energy leakage, but it can cost around $1.80 - $2.25 per sq. ft., or around $1,000 - $1,400, not including installation.
Laminate also remains a very popular choice at around $7 - $11 per square foot, although homeowners can consider anything ranging from carpet, wood or tile for their basement remodeling. Wall partitions may also be required if you want to add a downstairs bedroom or bathroom.
Bathroom Installation
Having a bathroom downstairs is a fantastic idea. You should already have the plumbing available in the basement. The installation of a toilet averages at around $270, vanity with marble top at $600 - $900, and a shower and / or bathtub can range in price, depending on the chosen brand your basement remodeling project will incorporate.
If you have only enough room for a half bath it is still a great feature to have, but a three-quarter or a full bathroom is not only a fantastic use of your money but a sizeable jump in the return on your investment. Resilient vinyl flooring will cost you $25 - $35 per sq ft. Add a light / fan combination at $180 and a recessed cabinet for another $75 - $100, and your bathroom is ready for use.
Wet Bar
Turning the basement remodeling project into a bar area is everyone's dream! It also can prove pricey, but you are also guaranteed to increase the value of your home. This means you bring in more material on top of the flooring and partitions you've already installed.
Laminate countertops average $20 per linear foot, oak cabinets roughly $20 - $40 per linear foot, sink and faucets between $350 - $850 installed, and an under-counter refrigerator at roughly $500. Should you require any additional plumbing installed for the sink too, the prices can range anywhere from a few hundred to several thousand dollars for your particular basement remodeling project.
Building Code
An electrician will be required to ensure electrical wiring and lighting is installed to code. On average, they charge $60 - $90 per hour. Plumbers will also charge around $40 - $65 per hour plus materials to ensure your plumbing is up to code.
How Much Will It Cost To Remodel My Basement?
As you can see, there are all sorts of different variables at play when it comes to basement remodeling. It really just depends on what you want to do, your budget, and the amount of space you have.
For a basement of about 700 sq ft, homeowners can expect to spend anywhere in the region of about $5,000 on smaller DIY projects. To call in some professional assistance for the same size basement, you can budget for anywhere around $15,000.
If your basement is between 700 - 1000 sq ft you can budget, on average, for around $18,000 - $20,000.
On the other hand, should your basement be larger than 1000 sq ft, the cost to remodel the basement could be as much as $50,000 or more, but all of the aforementioned prices will depend largely on whether you are starting from scratch or finishing off an existing basement.
For a new basement remodeling, you can expect to spend anywhere between $20 - $90 per sq ft., and there are many factors that could influence this overall estimate. The only way get a more accurate idea of what the cost to remodel a basement will be is to get in touch with a local professional to discuss your options.
Get In Touch With a Local Basement Remodeling Contractor
If you are interested in remodeling but unsure of how to calculate your budget, you can now reach out to contractors in your area for a more accurate, FREE estimate of the overall cost to remodel your basement.
How To Get a Free Localized Estimate
To reach out to basement remodeling contractors near you, simply enter your home zip code in the space provided below. Professionals are standing by now to help you figure how much it will cost to remodel a basement according to your specific requirements.
