basement remodel costs $20,000, and a 1,000 sq. ft. basement renovation is $38,000 on average. Prices depend on if it’s an open-plan or with rooms and a kitchen.
Average Cost to Finish a Basement.
|National Average Cost||$35,000|
|Average Range||$22,000 to $46,000|
- 1 How much does it cost to finish a basement with a bathroom?
- 2 How much does it cost to finish a 1000 sq ft basement?
- 3 What is the most expensive part of finishing a basement?
- 4 How much does it cost to finish a 2000 sq ft basement?
- 5 Does finishing a basement add value?
- 6 Is it worth it to finish a basement?
- 7 How much does it cost to finish a 1200 sq ft basement?
- 8 How much does a finished basement add to home value?
- 9 How do people afford to finish a basement?
- 10 How much should I budget to finish basement?
- 11 Do I need a permit to finish my basement?
- 12 What is the cheapest way to finish a basement?
- 13 How much does it cost to frame and drywall a basement?
- 14 How can I save money to remodel my basement?
How much does it cost to finish a basement with a bathroom?
Adding a bathroom to your finished basement plans will cost you between $10,000 and $30,000.
How much does it cost to finish a 1000 sq ft basement?
Expect to pay $7,000 to $23,000, or $15,000 on average, to finish a 1,000 square foot basement.
What is the most expensive part of finishing a basement?
Framing an unfinished basement can be very expensive due to both the labor and lumber costs. Surprising to many, the cost of lumber can actually end up being the most expensive part of the project. One way to offset those costs is by using metal studs.
How much does it cost to finish a 2000 sq ft basement?
Finishing a 2,000-square-foot basement costs approximately $70,000 to finish. Find the best basement finishing contractor in your neighborhood.
Does finishing a basement add value?
“When done well, a finished basement will add significant value to your property. On average, a finished basement will give you a 75% return on your investment. In areas where extra living space is in great demand, this will be even higher,” says Katie DeWeese, an interior design, remodel and redesign specialist.
Is it worth it to finish a basement?
A finished basement can increase your property’s value by 70%. While a basement does not add to the overall square footage of the house, that fact is usually beside the point for homeowners. Finished basements often function as an informal living room/family room, office, home classroom space, and guest rooms.
How much does it cost to finish a 1200 sq ft basement?
A 1,200 square foot basement remodel costs $30,230 on average, or $25 per square foot for materials and installation with most homeowners spending between $19,100 and $36,000. Ultimately your basement remodeling can cost about 30% less than a refinish.
How much does a finished basement add to home value?
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 do people afford to finish a basement?
5 ways to finance a basement remodel
- Home equity line of credit (HELOC)
- Home equity loan.
- FHA 203k loan.
- Personal loan.
- Contractor financing.
How much should I budget to finish basement?
The average cost to finish a basement is generally between $25 and $50 per square foot, but costs can go as high as $90 per square foot depending on how extensive the renovations are and the materials and labor you choose. For most basements, the average cost works out to around $30,000.
Do I need a permit to finish my basement?
In most instances, you will need a permit to finish a basement. Many municipalities require permits for finishing a basement if you install a new wall. The definition of a wall includes installing drywall over a previously existing framed wall. Any type of plumbing, electrical, or HVAC work will also require a permit.
What is the cheapest way to finish a basement?
Paneling can be used as an inexpensive way to finish you basement walls or ceiling. Use a strong adhesive to put strips of wood on your concrete basement walls, and then use wood screws that match your paneling to attach the paneling to the wood strips.
How much does it cost to frame and drywall a basement?
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. Ceiling: Basic ceiling installation can cost as little as $1-2 per square foot. But, if the project is complex, it can cost around $6 per square foot.
How can I save money to remodel my basement?
7 ways to save on your basement remodel
- Opt for an inexpensive, prefabricated egress window and well.
- Test exterior walls for moisture before finishing.
- Cut out some studs.
- Install drop ceilings.
- Skip the carpet and install luxury vinyl tile instead.
- Add a bathroom (or at least a half bath) near existing plumbing.