The most expensive aspect of finishing a basement is generally the required materials themselves, which can constitute about 70% or more of your total cost. Labor is a significant expense as well, and may account for as much as 20% (or more) of project costs.
If you're looking to increase the value of your home, adding a bathroom to your basement is a great place to start. Adding this new function can increase the value of your home by up to 20%, so it's worth considering.
A: One of the most expensive parts of finishing a basement is doing foundation repairs and any waterproofing, electrical work, and additional framing or insulation.
Framing: The Skeleton of the House
Framing forms the basic structure of the home, involving a significant amount of wood or steel, as well as skilled labor. This stage typically ranks among the highest costs in the building process due to the extensive materials and precision required.
Basement finishing costs about $7 to $23 per square foot, so the larger the space, the more you'll spend to turn it into a cozy den or welcoming guest suite. A smaller, 500-square-foot basement will cost about $3,500 to $11,500 total, while a large, 1,500-square-foot basement will cost $10,500 to $34,500 to finish.
Average Cost to Remodel a Basement
Remodeling a basement costs $5,000-$10,000 on average, so you can easily finish your basement for $10,000 or less. Typically, this cost includes: Adding walls. New flooring.
Framing. Perhaps the most expensive part when it comes to building a home is the framing, which consists of wooden beams that make up the home's skeleton.
A basement is the most complex and the most expensive type of foundation. In order to create a basement, around 12 feet of earth is excavated, the hole is sealed, and then concrete footings and walls are poured. Basements can be entirely or partially below ground.
1. Kitchen ($10,000 to $30,000) One of the most important rooms in the house, it makes sense that kitchens are also one of the most expensive to build or remodel. From plumbing and electrical, to the layout, to the materials in the room, it adds up.
Covering the Walls
Covering cinder block or plywood walls with drywall gets costly quickly. To save money, limit the use of drywall or look for other options to cover a portion of the walls. Again, paint is the quickest and cheapest way to make a basement look more inviting.
Adding a bathroom costs homeowners an average of $37,000–$74,000. See which factors will impact your total cost. Mark Howey is a licensed California building contractor with more than four decades of experience in the construction industry.
The national average for finishing a basement of 1,000 square feet is between $7,000–$23,000, depending mostly on the following factors. Size of basement: The larger your basement space, the more it will cost to finish. State of basement: If the basement is already partially finished, the total cost may be less.
As a basic rule of thumb, if your project includes any new construction, additional square footage of living space or large-scale home upgrades will lead to property tax increases.
Poured concrete basements
The footings and foundation of a poured concrete basement are constructed from poured concrete and reinforced with steel bars to add structure and framework. Poured Concrete basements would be the most reliable option to bear hydrostatic pressure because they are watertight and have no seams.
Cement. Cement is a popular construction material because it is the most important ingredient of concrete. Cement is mixed with water and other aggregates to form a paste that dries to form concrete. Cement is one of the most expensive construction materials.
Depending on the type of issue, foundation repairs can cost as little as $250 for minor cracks and upwards of $25,000 or more if the issue requires hydraulic piers.
Generally, labor accounts for anywhere from 20-35% of total construction expenses, while materials account for 65-80%.
Concrete flooring can be the least expensive choice in a basement because it's already there. You might be able to give it a good cleaning, maybe grind down some rough spots, and call it good. You can always use throw rugs or carpet tiles (see below) to add warmth and softness to specific areas.
Overall, the average 1,000-square-foot basement takes 4 to 8 weeks to complete. If you're working with an interior decorator, add another two weeks to that time.
It requires a high level of coordination between various contractors and professionals, which a general contractor is capable of handling—since they have the experience. Handymen, on the other hand, can do the job well but may need assistance.