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.