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How Much Does It Cost To Finish Or Remodel A Basement?

Most homeowners spend between $12,064 to $19,922 nationally.
Get free estimates from local contractors who can Remodel a Basement.

There are many costs associated with remodeling a basement that you should take into consideration before work begins. Both labor and material costs must be put together in an accurate budget, and most of these costs are dependent on the basement finishing job and its needs.

Before jumping into your basement remodeling or finishing project, connect with a local contractor that can help ensure a quality job. Use our free lead generator to get in contact with a professional basement contractor today.

National Remodel a Basement Costs

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National

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$17,459

Average Cost

$200

Minimum Cost

$40,000

Maximum Cost
Average Range:

$12,064
to
$19,922

National Average Cost $17,459
Minimum Cost $200
Maximum Cost $40,000
Average Range $12,064 to $19,922
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How do we get this data? This info is based on 3536 cost profiles, as reported by ImproveNet members.

Table of Contents

  1. Basement Remodel Cost
  2. Basement Bathroom Installation Cost
  3. Basement Bedroom Installation Cost
  4. Rooms You Can Add & Pricing
  5. Basement Framing Cost
  6. Basement Flooring Cost
  7. Increased Resale Value
  8. Find A Local Basement Contractor

Basement Remodel Cost

The cost of a basement remodel can vary, but in most cases, this project won’t be cheap. What you put into your basement remodel is what you will get out of it, so that initial payment can turn into a terrific return on investment. The average basement remodel will increase your home’s resale value. Next to kitchen and bathrooms, basements are ranked as one of the most valuable home renovations.

The average basement remodel cost is $17,459, with most homeowners spending between $12,064 and $19,922. The cost of your basement finishing or remodeling job will depend on the size of your basement and the extent of your basement remodel.

Cost To Finish Basement

Basement Bathroom Installation Cost

A great way to increase the ROI of your basement remodeling or finishing project, is to add a bathroom. This will not only increase the value of your home, but also the functionality of your basement. Some factors to consider when budgeting are:

Plumbing

The bathroom going in your basement will have to be connected to both the sewage lines and water supply. The costs for this will include materials, hiring a plumber and opening any walls for connecting water and sewage.

Flooring

While the main cost factor of installing flooring is the flooring itself, the average cost to install new flooring is around $2,300. Once you choose the right flooring, you need to choose the right way to install it. Most homeowners choose to hire a contractor for larger installations, and for good reason.

Whether you DIY or not, you need to be aware of the average flooring material costs:

Type of Flooring

Average Material Cost

Hardwood

$8.00/sf

Tile

$7.50/sf

Laminate

$4.70/sf

Vinyl

$3.00/sf

Carpet

$6.00/sf

Bamboo

$7.30/sf

Permits

Everything that is going into your basement remodeling or finishing job, will need to be inspected and approved. This includes any framing, electric or plumbing. The cost for permits ranges between $100 and $3,000.

How Much Does It Cost To Finish A Basement

Basement Bedroom Installation Cost

If you’re looking to take advantage of your basement space and want to add another bedroom, this is a great addition along with a basement bathroom. Both will increase the value of your home and make this remodel or finishing project worth it. Plus, this extra room can be a guest room or maybe a passion project room.

Adding a bedroom to your basement can be costly, with the average cost running anywhere from $80/sf to $200/sf. The cost will depend on the size of the bedroom you want to add, the materials being used and other additions inside the bedroom.

Drywall

Drywall must be applied to any framed basement walls you have and must be applied to any additional walls used to create your basement bedroom. A standard 8’ by 4’ panel will cost between $10 and $20, depending on the thickness. The cost to install these panels varies, but most homeowners report spending around $1.50/sf. The total cost of your project will range between $1,152 and $1,982, with an average cost of $1,915 to install a wall.

Carpeting

Adding carpet to your extra bedroom is a great way to separate this space from your basement, and make the room feel like an escape. There’s nothing like getting up and putting your feet on a soft carpet. Another pro of carpet is that it’s cheaper than hardwood flooring, or other popular flooring options. The average cost to install carpeting is $1,628, with homeowners reporting prices between $862 and $1,831.

Closet

According to real estate agents and appraisers, a bedroom must have a door, window and closet. Adding a closet to your basement bedroom is crucial to adding value to your basement addition. There are a few components that will affect the cost, the size of the closet being the biggest. The average cost to install a closet is $1,779, with most homeowners spending between $1,272 and $1,917. More than likely, your closet cost will be lower seeing that the size of the closet won’t be nearly as large as your master bedroom or other main bedrooms.

Permits

Check with your local authorities to find out what permits will be needed for your bedroom addition. Some permits that will be required are framing permits, electrical permits and plumbing permits. These permits are for your safety and will ensure the project is done according to building codes.

Finishing Basement Cost Estimator

Rooms You Can Add & Pricing

If you don’t want to add a bedroom or bathroom to your basement, there are plenty of other remodeling projects you can add to your basement.

Home Theater

A home theater is the best way to watch movies with your family, cheer on your favorite team and entertain guests. The cost for a home theater will vary depending on the entertainment system you choose to install. Homeowners reported spending between $1,000 and $10,000 on home theater services.

Wet Bar

Another great addition to your basement is a wet bar, which can turn your basement into the center of the party. The final cost of your wet bar, including installation, will range between $1,000 and $5,000. The cost can be increased by the size of the bar, appliances added, materials used, décor added and lighting.

Cost To Install Home Theater

Basement Framing Cost

Before walls and flooring can be added, the basement must first be professionally framed. Framing an unfinished basement can be very expensive; not only will it require a large amount of labor, but material costs are high as well. If you consider all the lumber your contractor will need to lay, plus crossbeams and studs, you will find that lumber is going to be one of the costlier aspects of the project.

While the size and number of walls dictate the exact cost of any project, most homeowners report spending, on average, about $1/sf on materials for framing alone. This does not include the cost of insulation and drywall or sheetrock.

When putting a wall over a recently constructed frame, sheetrock is the industry standard for a durable option, that can be painted easily. It can help insulate the room due to its density and generally lasts a long time when maintained. If you’re trying to significantly drive down costs, using paneling for the walls is an effective option. It’s very light, inexpensive and pre-finished in a variety of different sizes and types. Labor costs may also decrease because paneling is easier to transport and work with.

Basement Remodel Cost

Basement Flooring Cost

Putting down a floor in your basement offers a host of different options that will depend on your wants and needs more than anything else. Carpeting in the basement can easily be installed by any professional. Any type of carpeting can be installed in the basement and is often the most economical option. Another popular solution to flooring in the basement is the use of tile. Although tile is a more expensive option considering both material and labor costs, tile can be very visually appealing in your newly remodeled basement.

Increased Resale Value

Deciding to remodel your basement is one of the smartest remodeling projects you can make. According to Remodeling Magazine's most recent “Cost vs. Value”, the average basement remodel has a 70.3% payback.

If you are worried about your return on investment, make your basement into a functional space that serves many purposes. Make this space a family room, home office, man cave or another bedroom. Consider what you need out of this basement and how your family will use it.

Find A Local Basement Contractor

There are some aspects of your basement remodel or finishing job that you can tackle yourself, while there are others that require the help of a professional. Hire a licensed contractor that understands the ins and outs of your project, and one that fits your budget.

Luckily, ImproveNet help you connect with a local basement remodeling contractor and get started today.

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Last updated on Aug 1, 2017

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