Table of Contents
Average Cost to Finish a Basement Type of Cost Cost Average Cost $18,400 Highest Cost $80,000 Lowest Cost $3,000.
How much does it cost to renovate a 1000 sq ft basement?
Expect to pay $7,000 to $23,000, or $15,000 on average, to finish a 1,000 square foot basement. Add around $6,500 if you want to hire an interior designer and another $2,650 for furniture.
Is it worth it to renovate a basement?
Many people wonder if finishing their basement is worth the time, effort, and money to remodel their downstairs space. To answer that directly, yes, finishing your basement will almost always increase the value of your property. The standard return is around 70%, according to Remodeling.HW.net.
How much should you spend on a basement remodel?
The cost to finish a basement ranges from $2,800 to as much as $34,500 for a 400- to 1,500-square-foot basement. The average basement project costs around $18,400.
How much does it cost to finish a 900 sq ft basement?
The average cost to finish a basement is generally between $25 and $50 per square foot, but costs can go as high as $90 per square foot depending on how extensive the renovations are and the materials and labor you choose. For most basements, the average cost works out to around $30,000.
What is the cheapest way to finish a basement?
Paneling can be used as an inexpensive way to finish you basement walls or ceiling. Use a strong adhesive to put strips of wood on your concrete basement walls, and then use wood screws that match your paneling to attach the paneling to the wood strips.
Does finished basement add value?
“When done well, a finished basement will add significant value to your property. On average, a finished basement will give you a 75% return on your investment. In areas where extra living space is in great demand, this will be even higher,” says Katie DeWeese, an interior design, remodel and redesign specialist.
How much value does a basement add to a house?
The appraised value of finished basement space is generally 50% to 60% of the value of the main level square footage. To maximize the cost/value ratio, the market experts recommend keeping the basement budget below 10% of the existing home’s value. Staying between 5-10% is a good plan.
Is a finished basement considered living space?
While a finished basement is considered living space where your property value is concerned, it’s only in rare instances that this living space is counted towards the square footage. Even if your basement is not an exception to the rule, a finished basement is an asset to your property value.
What is the most expensive part of finishing a basement?
Framing an unfinished basement can be very expensive due to both the labor and lumber costs. Surprising to many, the cost of lumber can actually end up being the most expensive part of the project. One way to offset those costs is by using metal studs.
How much does it cost to finish a 1800 sq ft basement?
Cost to Finish a Basement Per Square Foot Square Feet Open Plan 3 Rooms 1,000 $32,000 $38,000 1,200 $38,400 $45,600 1,500 $48,000 $57,000 1,800 $57,600 $68,400.
How much does it cost to build a 1500 sq ft basement?
House Foundation Cost Calculator Square Feet Concrete Slab Basement (Unfinished) 800 $4,609 – $10,816 $26,811 1,000 $5,750 – $13,520 $33,506 1,200 $6,936 – $16,224 $40,239 1,500 $8,670 – $20,280 $50,299.
How much does it cost to frame and drywall a basement?
Framing: You should expect to spend about $1 per square foot to frame your basement. Drywall: It costs around $1.50 per square foot to hang drywall in your basement. Ceiling: Basic ceiling installation can cost as little as $1-2 per square foot. But, if the project is complex, it can cost around $6 per square foot.
How much does it cost to finish a basement room?
Finishing a basement costs roughly $20,000, but the total price can range from a few thousand dollars to as much as $80,000 depending on the size and style of the space.
What can I use for basement walls instead of drywall?
Wood Planks. Wood planks will be a fantastic option to consider for anyone who would like to achieve a rustic look. Plastic Panels. Plywood. Veneer Plaster. Pegboard. Lath and Plaster. Wahoo Walls. Textured Wall Panels.
How finish a basement easily?
Keep the ceiling exposed. This smart basement renovation reveals a key secret to enjoying a partially finished basement: Keep the ceiling open. Ditch the drywall. Capture the power of white. Establish a focal point. Get creative with paint and decor. Install cabinetry. Just do the basics. Dress up with shine.
How do you finish a basement without drywall?
Drywall Alternatives for your wall Wood Planks. Plastic Panels. Plywood. Veneer Plaster. Pegboard. Lath and Plaster. Wahoo Walls. Textured Wall Panels.
How do appraisers value finished basements?
Appraisers will generally value finished basement space at 50 to 60 of the value of the above grade square footage. This is why market experts recommend keeping the basement budget below 10 of the existing home’s value. Moving above this percentage doesn’t help with the appraisal, it’s like over improving the basement.
What adds the most value to a home?
What Home Improvements Add the Most Value? Kitchen Improvements. If adding value to your home is the goal, the kitchen is likely the place to start. Bathrooms Improvements. Updated bathrooms are key for adding value to your home. Lighting Improvements. Energy Efficiency Improvements. Curb Appeal Improvements.
Why are finished basements not included in square footage?
If the square footage isn’t livable, it doesn’t count. It’s not usable, so don’t include it in square footage. To be considered “living area,” a home’s rooms must meet certain criteria — including the basement. Height clearances, whether it’s heated, and the presence of windows: all of these make a space livable.
Does basement count as square footage?
Does A Finished Basement Count Toward Total Square Footage? Even if a basement is finished, its area should not be added as part of a house’s total square footage. Any part of a home that falls even partially below ground level should not be included in the total square footage.
