Basement remodeling is a great idea to take on when you have the chance. It can extend your living and work space, and in some cases, party space. However, it is a major decision, so you need to count the cost. Literally. Here’s a quick guide to basement remodeling costs.
The cost can vary depending on the state and size of your basement, but the average cost to finish a basement is between $32 and $47 per square foot. Most basements are about 600 square feet, so the range for the total cost is between $22,000 and $46,000. At a minimum, you will still spend about $16,000.
This will still depend on the overall layout of the basement. If you choose an open-plan layout over one with rooms, you will spend about $2,000 to $5,000 less. You can get an accurate cost estimate from a reputable remodeler in your area, and you can compare it to the figures included in this guide.
Finishing a basement is not the same as finishing other rooms. With most rooms, you just have to replace countertops, put in cabinets, and paint the walls. Basement finishing usually includes framing, plumbing, insulating, wiring, flooring, waterproofing, ventilating, dry walling, and shelving.
The good news is, finishing the basement can give you a return on investment of about 70%. That means you get back $7 for every $10 you spend on your remodeling in terms of home value.
Of course, if your basement is already in good shape such as waterproofed and insulated, and your electrical wiring is up to code, you can save a bit of money on remodeling. You might even be able to do the work yourself.
The cost of your basement remodeling breaks down into many factors. Here are the major ones.
If you contract professionals such as plumbers, electricians, and carpenters to do the work, you are looking at around 30% of your remodeling cost. This is about $16 per square foot, which translates to about $8,000 for a space of 500 square feet.
Framing a basement is the same us a structural rough-in, where you place the framework for the insulation, plumbing, and wiring. In most cases, the contractor will place wood frames about three inches from the concrete wall and anchor it to the floor. Once these in, the contractor places the drywall to make it ready for paint or other type of finishing. The cost for just the framing (not including drywall) is between $3.70 and $4.39 per square foot, materials included.
Basements tend to be moist and echo sounds. Insulation can help control the moisture and temperature as well as muffle sound. Experts recommend spraying closed cell foam insulation for basements because it air cannot get in and allow condensation build up. You will spend from $32 per cubic foot of the foam for every inch thickness. The total cost will depend on the number of walls you have. The total price range can be anywhere between $700 and $4,000 for the typical basement.
Putting in drywall with all the necessary materials will set you back about $1.60 per square foot. You can calculate the total cost of dry walling your basement by getting the sum of the widths of all the walls (in feet) and divide that by 4 feet, which is the width of the standard drywall panel. This will give you the number of panels you will need for your walls.
A typical basement with an area 600 square feet will cost about $1,273 for an open plan, and almost twice that at $2,376 if for basements with rooms.
Experts recommend using moisture-repelling drywall for the basement, which costs between $11 and $25 per panel. Other options include:
- Cement board drywall: $10 – $11
- Green, blue, or purple board drywall: $11 – $16
- Paperless drywall: $25
Most unfinished basements have bare ceilings as well as walls. If you want a cozier basement, you can install ceiling drywall. The panels are the same as for walls, but ceilings are more complicated because you need to put in joists and R-11 insulation batts before putting in the drywall. The fact that it is the ceiling also makes it much more difficult to install than the walls, and may require special equipment. On average, the total cost per square foot of installing a ceiling is between $3.50 and $4.50.
Painting the ceiling adds another cost to your remodel. The average is between $1.16 and $1.60 per square foot, depending on the texture. You can save about 30% in materials by spray painting it.
Painted drywall panels are the most popular options for ceilings, but other options are available. These include:
- Wood or tile – $2.59 – $4.88 per square foot, installed
- Popcorn – add $0.34 – $0.70 per square foot to the standard drywall ceiling, depending on thickness
- Textured – add $0.33 – $0.89 per square foot to the standard drywall ceiling, depending on the texture
You can do quite a lot with bare concrete basement floor. You can score and polish them for $2 per square foot, or you can use floor paint to cover it up at $3 per square foot. If you want wood flooring, you will need a subfloor of plywood before putting in wood flooring joists, and this will cost you between $2.73 and $4.49 per square foot.
If your head is spinning with all these figures, remember that these are just to give you an idea of where your money is going. If you are more of a bottom line type of person, the only thing you need to know is that the average cost to finish a basement is between $32 and $47 per square foot. Consult with a reliable basement remodeling company to walk you through the costs of the actual remodel of your basement.
Mimosa Kitchen and Bath can help you make the most of your remodeling budget if you are located in DC metro area, Columbia, Rockville, Bethesda, Jessup, Chevy Chase and surrounding areas.
At Mimosa Kitchen and Bath, we sell high-quality products manufactured by leading brands in the industry and expert remodeling services. When you purchase your products from us, we guarantee speedy delivery compared to ordering from big box stores. We will also customize the product according to your specifications and install it into your kitchen quickly and with excellent artisanship.
We sell a host of products, including but not limited to cabinets, flooring, faucets and sinks, and vanities. Some of the brands we carry include Zodiaq, Fabuwood, Forevermark Cabinetry, Caesarstone, MSI, Kitchenmaid, Wolf Cabinets, Cambria and Hardware Resources. You can visit our showroom in Elliicott City, Maryland to see the many products and stone slabs we have available. This includes marble, granite and engineered quartz.
All of our products come backed with brand warranties. Contact us today to get a free quote for your basement remodeling!