The Cost of Refinishing a Basement
Whether you have just moved into your new home, you’re planning to sell your current or you just want a nice place to hang out, a refinished basement is always a good idea.
Typically, basement finishing costs 50% of the cost of a new addition, increasing the value of your home by as much as 97%. Refinishing your basement is an investment into your home that is worth making. Once you decide that you want to refinish your basement, the first thing you want to do is call a contractor
that is qualified for the work and put a budget together. You probably have a million ideas running through your head; movie theatre or a bar or a game room, but it is important to talk with someone who knows the in’s and out’s of contracting a basement that can help you to put a realistic budget together so that you can acquire your dream basement.
Waterproofing and insulation
is a top priority; remember, the basement is below ground. The U.S. Department of Energy gives a detailed overview with cost estimates for a wide range of options. Your local planning department should also have specific regulations on ceiling height, access doors and ventilation. Building permits
will vary in costs and need to be added to your budget. Overall, the costs will depend on what you plan and can afford to do in this project.
It will also depend on local pricing for materials, labor and permits. Thus, think about what you want to accomplish in basement space, make a design plan and budget, and call a professional for an estimate. The luxuries you choose to install in the basement will be a large factor. While a basic 1,000 square foot basement remodel could cost $15,000 to $25,000, the same area with upgraded, specialized touches could cost double that if you want fancy amenities. Bathrooms, water connections, heat sources; these will be main sources of extra cost.