Answers to Your Basement Finishing & Remodeling Cost Questions

Thinking of revamping your basement area into a contemporary living space? While you're browsing through remodeling plans, take a look at some of the average costs for finishing a basement.

Your basement may be a hidden treasure — one that is ready to be renovated and transformed into a sophisticated den. There is a great deal to consider when finishing your basement, including what kind of room you want to create, your flooring and wall options, paint color, and much more. Before diving right into the renovation process, you'll want to think about your vision for your basement areas as well as how much to budget for finishing the basement of your dreams.

How Much Does Finishing a Basement Cost?

Since you may be starting from scratch with an unfinished basement, you will have to take into account all the steps required to create a suitable living area. From laying new flooring, to setting up new walls, to smoothing out the ceiling, the average cost for finishing a basement totals up to about $18,000.

First, you may want to invest in an inspection of the basement area so you have an accurate idea of what you will need to update. Inspections can also reveal potential complications, so you can address them early in the renovation process. You'll also want to determine if you will be finishing the space as one room, or if you're planning on dividing it into several rooms. Multiple rooms call for defining the area with new framing, updating the electrical wiring, and other internal upgrades, which may average anywhere from  $6,000 to $15,000.

How Much Value Does a Finished Basement Add?

A quality finished basement can result in a large expansion on the square footage of your home, and can therefore raise the value of the home overall. Even if you don't plan on selling your house right away, a finished basement can help recoup some of your initial investment. To get a better idea of just how much value finishing a basement can add, let us connect you with a local contractor who can work with you on your specific renovation project.

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Basement Flooring

There are many factors that will determine which flooring is best for your basement. The main thing to remember is basements often have more moisture and humidity lingering than in other areas of your home. Assessing moisture levels is where an inspection can definitely come in handy to ensure that there is no water damage, leaking issues, or flood susceptibility. Before choosing a type of flooring, you will want to make sure there is an existing solid floor surface so the new flooring you choose will sit correctly and last for years to come.

Vinyl Floors

Vinyl is a great choice as a strong floor that will be able to weather lots of traffic and usage over time. Vinyl floors are the most budget-friendly option, estimating about $350 for the whole floor depending on how large of an area you need covered.

Tile Floors

Tile flooring is ideal for basements when adding kitchens or bathrooms to the area. Not only does tile add a sleek look to the basement, but it keeps the space colder when the  weather gets warmer. Concerned about the cooler temperatures when winter arrives? Area rugs great for warming up the space. Placing tile throughout the entire basement will cost you approximately $1,600.

Carpet Floors

Carpeting will transform the basement into a cozy haven fit for entertaining guests and the family. For full carpeting throughout the room, the cost will be about $1,500 depending on how large of an area you need carpeted.

Waterproofing

Since the basement may be at risk for water leaking or flooding issues, waterproofing is a technique that ensures your floors (as well as your foundation, walls, and ceiling) are water-resistant and safe from these risks. Waterproofing costs about $7,000 for an entire basement, but smaller jobs, such as one particular area of the basement, may cost anywhere from $300 to $500.

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Basement Ceilings

Because of protruding pipes and framing from the basement ceiling, developing the perfect ceiling can be tricky.  However, there are several solutions for finishing the ceiling, all coming with their own unique prices.

Spray the Ceiling

For a more urban look to the basement, keeping the pipes exposed in the ceiling can work in your favor. Hiring a professional to recolor these pipes will make for a much cleaner job and could cost about $300 to $500. If you're looking to conceal the ceiling rather than accentuate it, consider painting the ceiling the same color that you plan to paint the walls to create a blended look.

Add Drywall

Drywall offers a streamlined look and is much more effective when hiding the exposed ceiling, roughly costing $15 per panel. Using drywall for your ceiling can result in a more cohesive look for the entire house, since it will match other rooms in the home that have this similar ceiling.

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Basement Walls

Your basement walls are one of the most defining features in the space and may require the most attention at the start of the finishing process. It is recommended that the exterior walls of the basement are framed and insulated, while interior walls can be finished with a variety of options.

Insulation

There are a surprising number of choices when it comes to insulation, so make sure to understand your options before making a final decision.. From blown-in insulation to fiberglass batts, there are several types of insulation that could be appropriate for your basement walls. It is important to know which insulation type is the right fit for your basement and budget, so reaching out to a local insulation contractor is a good idea when picking out the correct type for you.

Framing

In defining your basement area, framing does the job of creating barriers that will separate each room within the underground space. The cost to frame your basement will depend on the square footage of the area. The larger your basement space is, or the more walls you want to add, the more you can expect to pay for framing services.

Basement Painting

When sprucing up your basement, using paint will enhance the area from an unfinished basement to a comfortable, functional room tailored to your unique style. On average, the cost to paint the interior of the basement is around $1,700. From flat, to semi-gloss, to textured paint, the type of paint that you decide to use in the basement will help determine how much you can expect to pay for painting. Getting in touch with a local painting contractor can help you decide on the perfect paint, as well as its price.

Colors

Be sure to think about the color of the wall before deciding to paint. Brighter colors, such a sky blue or a soft yellow, can open up a smaller basement that may not have windows. Darker paints, such as pomegranate or a deep gray, can make the basement feel much cozier.

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