Basement Remodeling Costs

Before starting a major home improvement project like a basement remodel, it’s important to make a budget and consider the costs. Basement remodel costs span a range from low to high, depending on the kind of work that needs to be done and the state of the basement. The only way to know the true cost of your particular home improvement is to consult with contractors. However, before you talk to contractors, it helps to learn a little bit about the types of issues that can affect costs. Here’s what you need to know.

What is the cost of a basement remodel?

Full basement refinishes start at around $50 per square foot, and go up from there. Depending on the features, the challenges your contractor experiences when completing your remodel, and how big your basement is, the cost can be as high as $150 per square foot. That’s a big range! The more you choose to do with the remodel, the more you’ll end up spending. When you’re making your budget, ask yourself: what are your goals? What is important to you? Knowing the answers to these questions can help you nail down a more definite cost and decide whether this kind of home improvement is right for you at this time.

Additions to Consider...

Home Theater

A home theater is another basement feature that can significantly add to the cost of your basement finishing project, depending on how its managed. The home theater can be as simple as a wall-tv with custom shelving, or as sophisticated as a theater ceiling, special lighting, theater seat risers and very high-tech built-in electronics.

Basement Bar

Mid-Range Bathroom

If you love entertaining and holding parties in your home, a basement bar is what you need! Find a contractor with experience installing custom millwork and cabinetry. A simple bar is far less expensive than a full bar, so if you’re on a budget, think compact and practical. Wet bars cost more but make clean up far easier. If you plan to entertain regularly, or if your bar is large (just like your parties!) a wet bar is far more practical. Adding extra cabinetry also increases costs, but if you have a serious liquor collection and want to serve food as well as beverages, extra cabinetry will give you a place to hide plates as well as glasses and bottles.
Depending on how much time you’re planning to spend in your basement and what you plan to do in your basement when you’re there, you may decide to install a bathroom in the space. A basic powder room in a basement can run as little a $10,000 – $12,000 if the plumbing already exists. If plumbing has to be added costs can vary quite a bit. A basic bath addition including an acrylic shower unit and basic vanity and commode is typically $22,000 to $25,000 if done during a basement finishing project. If you want a bathroom with more features, you budget goes up quickly from there.