If you are looking for the average cost to finish a basement, unfortunately, you wouldn’t find an exact figure. The total cost you will need to renovate your basement will depend on what look you would like to achieve for your basement, the size of your basement, the contractor you will hire, the materials to be used, the damage of your basement, and so on and so forth.
In most states, basic basement finishing cost $25 up to $50 per square foot. Meaning, if you have a smaller basement, expect to spend less, but if you have a larger space there, expect to spend more. In calculating the average cost to finish a basement, would you like to do the finishing yourself or do you prefer to hire a contractor? Most homeowners would often do it themselves since it is cheaper. If you have a tight budget and you really want to modify your basement so it may also be a good space for your family to use, check if you have tools and equipment to use when you start finishing your basement.
Identify your needs. Would you like to do some basement wall framing? If you do, do you know how to frame a basement wall? If you don’t here are some basement framing tips you may apply in finishing your basement yourself. This is to help you ensure that you spend an average cost to finish a basement.
Average Cost to Finish a Basement: On Framing Your Basement Walls
Again, the average cost to finish a basement wall framing would depend on the materials to be used and the size of the area. And since you like to do the framing on your own, measure your walls to be framed, draw a floor plan, and see how much materials you will need to frame your basement walls. Make sure all basement walls are thoroughly clean before you start the framing. Once you’re done with the measurement, have the wall plates ready, and install them.
If you will be using power saws or other electric equipment to cut or resize your plates and other materials, observe safety measures to avoid accidents while building. Also, make sure you know how to measure your basement walls correctly otherwise your basement frames would not fit properly.
Average Cost to Finish a Basement: Hiring a Contractor
The average cost to finish a basement if you decided to hire a contractor will most likely allow you to spend around $10,000 to $20,000 for the whole project. Keep in mind that most contractors would require their clients to pay half the total cost of the entire basement project upfront. Usually when you hire a contractor the majority of your payment will cover the labor wages and only around 20% for the materials. So imagine if you can do it yourself, definitely finishing your basement would cost you less.
On the other hand, many have also found that seeking professional help to finish their basements provide them peace of mind and confidence that they won’t be doing repairs the following year.
Remember, there is no exact average cost to finish a basement. If you will do it yourself, expect to spend less. However, if you need a professionally finished basement and cost is actually not a concern to you, then hire professionals to do the finishing. Start on your measurements or better ask a quote from a professional to give you an idea on the average cost to finish a basement.
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