Sometimes, people who plan to finish their basement overlook the cost to finish basement. The finished basement cost is a vital part of the plan before getting started in the real job. In this article, you will be given an idea of how much would it cost you to finish your house’s basement.
A basement can serve many purposes. This place can be utilized for storing things or as a place for children to play games, or a place for your kids to practice music or their arts. Whether planning to use the basement as storage or a leisure area, it would be best to have a finished basement. There are some steps to finishing a basement and if you are conscious of the money you are going to spend, you can even look go for do-it-yourself basement finishing. You can also read up on more finish basement ideas. However, you shouldn’t forget to consider the cost to finish basement first, before anything else.
It is estimated that you can finish your basement for half of the cost needed in making an extension for the house or some other home improvement work. It is also estimated that more than ninety percent of your basement investment is recoverable if the house is sold. If you plan to make the finishing touches to your basement yourself, the cost to finish basement would be considerably cheaper.
Cost to Finish Basement with a Contractor
If you want to get the help of a contractor in finishing your basement, you should be prepared to spend around $50 for every square foot. However, this budget is aimed at the upper level since the average cost to finish basement is around $25 to $35 per square foot for a basic job. If you want to improve the appearance of your basement, homeowners often add around $2 to $3 per square foot, including upgrades on the project.
Cost to Finish Basement: Do-It-Yourself
According to several home construction corporations, most of the cost to finish basement goes to labor expenses. Only around 25 to 30 percent of the total cost goes to the materials needed. All the rest goes to labor and other expenses. This means that you can save 70 to 75% of the total cost when you do the project yourself.
Other Costs to Consider
You have just seen that the total cost to finish basement largely depends on the labor expenses and that doing the project on your own can save you a lot of money. Additionally, the design elements will also affect the final cost to finish basement. For example, if you want to add a lavatory, this will have an additional cost of $4500. You can also add a wet bar, which will give you an additional $5000 to $10000 on the total cost.
If you plan to use the basement as a sleeping area, you have to think about the expenses in adding doors and windows. Some of these additional items might be ready to install but can also be quite expensive. In order to determine the exact cost to finish basement, try to consider the modifications you would like to do on your basement.
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