Basement renovations not only double the size of your living space but it also increases the value of your property. When it comes to finishing your basement, you have many options. There are many additional rooms and features you can add to turn your lower level into a functional and beautiful living space.
How Much Does It Cost to Finish a Basement
Basement renovation costs range between $35.00 to $55.00 per square foot. and depend on several factors including:
• Size of area
• Extent of renovations
• Additional requirements including plumbing, electrical wiring, permits
• Number of rooms
• Building materials
• Tear down costs
Depending on the size of your space and extent of work, it the cost to finish a basement is between $12,000.00 to $45,000.00 to finish your basement.
Some basement renovation projects require plumbing installations and upgrades. The average plumbing costs range between $1,200 to $2,000.
Many basement renovations require building permits and inspections in order to do the work. Permits are required whenever you alter the basement in any way including adding a room, doing electrical or plumbing, installing windows, or a sump pump. Before starting your basement renovation project, check with your local government office first to find out what permits you will need.
The average cost to frame a basement is between $3 to $5 per square foot. Basement framing costs will vary depending on the size of your basement and how many rooms you plan to add to your space.
Drywalling Your Basement
Drywall prices depend on the amount of drywall you will need, the thickness and size of each sheet, and the type or drywall. Drywall sheets are typically ¼ inch, 3/8 inch, 5/8 inch, or the industry standard ½. Sound proofing, fire or moisture resistant drywall panels cost more than your average drywalling sheets.
Other Basement Renovations
Adding additional rooms or fixtures in your basement will also increase the basement renovation costs.
The basement is a great place to add a second bathroom. Bathroom renovation costs vary depending on size of bathroom, extent of work, and features being added. The average cost of installing a full bathroom in your basement is between $10,000 to $15,000.
Basement renovation costs can include adding a kitchenette, kitchen, or wet bar. The average cost to add a kitchen to your basement is between $1,000 to $20,000.
Basement Ideas on a Budget
If you cannot afford to do a complete upgrade on your basement renovations, there are many things you can do to improve the functionality and look of your basement while sticking to a budget.
Adding flooring or carpeting, furniture, shelving, cabinets, or audio visual equipment can turn your basement into a home entertainment or recreational room, office, or games area.
Basement renovations are a great way to add extra space to your home by turning the additional space into attractive rooms. How much it costs to finish your basement depends on size of your basement and what you want to add to your space.