Average Cost to Finish a Basement

In the present scenario, most of the builders sell new houses with an unfinished basement construction, mainly because of cost cutting in construction and tax benefits. From a homeowners point of view, finishing the basement and remodeling it will increase the living space and at the same time, add the house resale value. With a well-finished basement, you can utilize it in a number of ways. But, the concerning issue is estimating the average cost to finish a basement, so as to make it a comfortable living area.

What is the Average Cost to Finish a Basement?

So, how much does it cost to finish a basement? If you ask this question to finishing companies, they will provide you a rough estimation of the total expenses. However, the exact cost depends upon how you want to go about the home improvement project. In case, you are adding features more than the basic finishing ideas stated by the contractors, obviously the average cost to finish basement will be higher. Refer to the following information to get a brief idea on how much cost to finish basement:

Planning for Basement Finishing
Besides the size of the basement (in sq. ft.), there are several aspects that need to be considered while calculating the basement finishing cost. First of all, what you need to do is planning for the basement space, pertaining to flooring, painting, electrical fitting, lighting installation, heating and cooling system, plumbing work (attaching bathroom) and other additions. If you have any doubt in drawing plans for your basement, search for remodeling services that offer free basement designs.

Hiring a Contractor for Basement Finishing
Needless to say, average estimated cost to finish a basement is higher if the project is done by professional contractors. As they charge cost per square foot, the total expenses will be less, if you have a smaller basement and vice versa. However, the contractor charges and material rates fluctuate from one state to another. On an average, the cost per square foot to finish basement range somewhere from USD 29 - 32 for basic remodeling to as high as USD 50 for installing upgrade features.

Do-it-Yourself Basement Finishing
In case, you are well acquainted with home improvement ideas, DIY is the best alternative to save money for finishing a basement. This is because labor charges and miscellaneous work account to more than 70 percent of the total investment for basement finishing. While the remaining 30 percent is spent on buying materials. Precisely, you can save a lot with a DIY basement finishing task instead of hiring professional services. For safety purposes, you can think of allotting electricity and plumbing works to professionals, who have an expertise on these fields.

Thus, we have seen average cost to finish a basement varies from one home to another and from one region to another. On the concluding note, it is agreed that basement finishing provides you additional living space at a much reduced cost, approximately 50 percent lower than the expenses, which you would require to make an addition to home. Another advantage is that, you can recover as much as 90 percent of the basement finishing cost at the time of selling your home. Hence, basement finishing is like a long-term investment for homeowners, where you get to enjoy extra living space, while getting impressive home resale value.