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The cost to finish a basement and turn it into a livable space ranges from $6,500 to $18,500 on average, according to analysis by Home Advisor. Basement remodeling projects — to improve or replace existing features — tend to cost between $10,000 and $30,000.
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 1000 sq ft basement DIY?
DIY vs. Hiring a Basement Finishing Contractor Size DIY Cost Professional Price Small (<700 square feet) $5,500 $10,500 Average (1,000 square feet) $8,000 $15,000 Large (1,000+ square feet) $15,000 $21,355.
How much does it cost to frame a 1000 sq ft basement?
Cost to Frame a Basement Square Feet Materials Cost Framed and Drywall Installed 1,000 $1,000 $3,050 1,200 $1,200 $3,660 1,500 $1,500 $4,575 1,800 $1,800 $5,490.
How much does a basement remodel cost?
The larger the area to finish, the more expensive it will be. The average cost of finishing a basement can range from $7 to $23 per square foot, with the average at $25 per square foot. The total price depends on the quality of the materials you choose, the contractor’s labor fees, and the purpose of the space.
Is finishing a basement a good investment?
Finishing a basement can be a good investment. According to cost versus value surveys conducted annually by Remodeling magazine, the average return on investment for a basement project nationally is currently around 75 cents on the dollar.
Is it worth it to finish a basement?
Finishing Your Basement Adds Value to Your Home According to NerdWallet, a finished basement with an entertainment area and basement bath raises a home’s value at an average of $50,000. Also, according to Zillow, homeowners see an average of 70 percent return on investment with a basement remodel.
How can I save money to remodel my basement?
7 ways to save on your basement remodel Opt for an inexpensive, prefabricated egress window and well. Test exterior walls for moisture before finishing. Cut out some studs. Install drop ceilings. Skip the carpet and install luxury vinyl tile instead. Add a bathroom (or at least a half bath) near existing plumbing.
What is the cheapest way to finish a basement?
If you’re wondering if paneling or drywall is the cheaper finishing option, generally speaking, drywall is cheaper than paneling. This is because it requires less attention to detail and finish work during the installation process. Drywall also adds better soundproofing than paneling, and it’s easier to repair.
Which flooring is best for basement?
What basement flooring options and materials are the best? The best type of flooring for basements is vinyl. Vinyl flooring can come in the form of vinyl plank and vinyl tile, giving it the ability to look nearly identical to hardwood and stone products with the added benefit of being waterproof.
How much would it cost to put a bathroom in my basement?
The overall cost for adding a bathroom in a basement will range somewhere between $3,000 and $25,000. The variance in this cost comes from whether you build in an existing space, or whether the bathroom is an extension to your existing basement.
How much does it cost to put walls up in a basement?
Frame Basement Walls: national average cost cost to frame basement walls National Avg. Materials Cost per square foot $0.96 National Avg. Cost (labor and materials) for 300 square foot $1,100.19 National Cost Range (labor and materials) for 300 square foot $755.37 – $1,445.01.
Can I finish my basement myself?
The basic steps to finish your basement include insulating walls, choosing flooring and adding a ceiling to transform your lower level into an additional living area.
How much does it cost to finish a 2000 sq ft basement?
Finishing a 2,000-square-foot basement costs approximately $70,000 to finish. Find the best basement finishing contractor in your neighborhood.
Do basements need windows?
In most cases, the answer is yes. A finished basement project must incorporate an Egress window if any portion of the space will be used as a bedroom, or if you are creating another habitable space (a family room, for example) that does not already have an Egress window or a door.
How can I update my basement?
10 Ways To Update Your Basement so It Doesn’t Feel Like a Lighting. Lighting can overcome a myriad of negative issues such as lack of natural light and low ceilings. Create an Open Space. Don’t Forget Decor. Consider Using Color. Functional and Effective Flooring. Ceiling. Declutter. Window Treatments.
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.
Does renovating the basement add value?
In the United States, on average, finishing a basement will give you a return of 70 to 75% of your investment. For example, if you spent $1,000 on improvements, it would increase the value of the property by about $700. If you spent $10,000 on improvements, it would increase the value of the property by about $7,000.
Is 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.
