Remodeling your basement is a great project. You can dramatically change the flow of your home and increase your practical living space. You might be able to create a separate living area for your college students, your parents, or future tenants. Of course, the first thing you’ll want to know is the cost. Although there are a lot of factors involved in finishing or renovating a basement, you can get some basic figures to help you plan.
The average cost to finish a basement is $15 to $50 per square foot, depending on the condition of your basement and what you hope to accomplish. Keep in mind that the actual cost of finishing may not include much more than framing, walls, flooring, electrical wiring, and HVAC. Custom millwork, high-end flooring options, and plumbing lines can cost extra. If you already have the walls in place, the price to refinish a basement may be significantly different. It’s important to get a detailed estimate so that you know what you’re paying for.
Not sure what your budget ought to be? Our consultation process helps you define what you expect from your basement remodel and provides a much more precise estimate.
If you’re not sure whether you have a finished basement, there are a few ways you can tell. If you’re hoping to finish your basement as part of increasing your overall home value, you must have these factors at a minimum. A finished basement needs access to the home’s HVAC system, particularly for heating and ventilation. You must have walls that aren’t made of concrete, and flooring that isn’t bare concrete or plywood. The basement itself needs a permanent means of access, although it doesn’t necessarily require an exterior door.
There are only a handful of limitations in the ways that you can remodel your basement. It mostly depends on your home, your budget, and how you plan to use the basement. You can always browse through our projects to get ideas. We’ll highlight a few of the most popular options.
If you’re tired of going upstairs to get food, or you just want to keep the teens from making a mess in your space, a second kitchen is a perfect solution. You’ll spend about $20,000 to $50,000 for this project, depending on the size. A second kitchen is also a great way to maximize your basement without necessarily converting it to a separate living space.
When you are looking for ways to make your basement more like the rest of your home, a bathroom addition is an excellent place to start. You can expect to pay $10,000 to $50,000, depending on the level of finish in your basement, plumbing requirements, and more.
Laundry rooms make an ideal space for treating, washing, folding, and ironing your clothes. For about $10,000 to $15,000, you can get an enclosed room with a sink, storage, and places to hang your pressed clothes before you take them to the closet.
Adding a bar to your basement is a great way to enjoy a drink without having to build a whole kitchen. A custom home bar costs about $5,000 to $20,000, not including the costs to finish the basement.
If you don’t use your basement as much as you’d like, it is worth thinking about converting it to an in-law suite. This project runs about $50,000 to $150,000. In-law suites are so popular because they offer the ability to house multiple generations without compromising privacy. You can also make it completely separate, so you can rent it out.
The most expensive part of finishing a basement is often the framing. Lumber prices vary widely from one year to the next, and all-wood frames require a lot more than you may think. If you’re going from a completely unfinished basement to a fully finished one, you can expect this aspect to be one of the biggest single costs. If your basement already has framing, and you’re not significantly changing the layout, the highest expenses may depend on the project. New kitchens and bathrooms typically cost more than family rooms.
Of course, if you are dealing with other complicated aspects of basement remodeling in Connecticut, your budget may need to be somewhat higher. Basements in older homes often have low ceilings. If you’d like to raise it up so you can build formal bedrooms or an in-law suite, you can expect to pay an additional $5,000 to $15,000.
With a range of $15 to $100 per square foot for most basement remodeling projects, you can expect to pay $15,000 to $100,000 for a 1,000-square-foot basement. Your price will depend on a lot of factors, including the existing finish level of the basement and your renovation plans.
For the best experience, you should start with an experienced building and remodeling company like Fine Home Contracting. We maintain a level of care that sets us apart, with attention to detail that you can see in every aspect of your basement remodel. Contact us to get started or find out if we remodel in your area.