2017 Average Cost to Finish a Basement + Remodel, Bathroom …

Finished basements can be the sites of stunning achievements or apocalyptic home disasters. Problems there can significantly decrease the value of your home, while cost-effective finishing work can add livable square footage, vastly increasing its value.

Whether you're thinking of remodeling your basement or you need to fix leaking or sinking foundations, the cost of your work will vary based on your geographical location, type of soil, kind of repair or enhancement and complexity or amount of work needed.

While a remodel generally happens after a basement has already been finished, you may find that you want to remodel your new, unfinished basement. Remodeling your basement before refinishing it can often save you money.

Installing all of the necessary plumbing and electrical work while walls and floors are unfinished will result in savings.Starting from scratch doesnt require demolition, which can save you around $2,000. Framing may be necessary to define rooms and spaces. System upgrades usually call for minor expansions to the HVAC and electrical systems, but not adding plumbing. The bulk of the cost, however, is in flooring and finishing. After wrapping things up with carpeting, drywall, and ceiling material, you can expect to pay anywhere from $6,500 to $15,500.

Your basement probably houses some of your home's work engines: a boiler, hot water heater, furnace, maybe an extensive network of pipes carrying water or sewage. It's the area that's extremely susceptible to water damage and leakage. Whatever work you do, you probably will want to include waterproofing as well.

Converting a finished basement from a general room to a full-service guest suite involves all of the above and then some. After adding or remodeling a bathroom, a kitchenette, cabinetry, HVAC and electrical upgrades, etc., you can easily spend $20,500 to $50,000.

Some houses only have partial basements. Extending your foundation is an involved job and can cost from $10,000 to $30,000 on top of the above estimates.

The finishing touches you choose, such as ceiling, flooring, and other features, will add to the final costs. When designing your basement, remember to factor in these features to the budget.

Timing

If time is critical, consider a basement finishing kit. A finishing kit has insulated wall panels, and some include a walkable flooring surface and ceiling material for DIY installation. Depending on the size of your basement, these kits can be installed in a weekend. However, the floor wont be carpeted, the walls wont be painted, and there will be no electrical or plumbing. Other features such as doors, trim work, and more also need to be added.

The cost of a finishing kit ranges from around $4.75 sq. ft. for just wall panels that you install yourself to $30,000 for the walls, ceiling, and floor installed by a professional team.

Your Home's Systems

One solution is to paint ceiling pipes the same color as the ceiling to hide them -- or in bright colors to make them interesting. Placing a water heater in a closet is a consideration, but be sure to check local codes before doing this. Large systems like boilers and HVAC units are not so easily to tuck away.

Professionals agree the utility room should not be finished. The ventilation and drainage requirements for these systems are very specific, and you need easy access to the systems for inspection and repair. Consult a professional before settling on a design to prevent any issues from occurring down the road.

Framing - $1 sq ft.

Drywall - $1.50 sq. ft.

Ceilings - $1 - $6 sq. ft.

Pipes and ductwork often hangs lower than the joists. This makes a smooth ceiling impossible. Many repurposed urban spaces mask these features by painting them and the ceiling the same color. A sprayer can be rented for about $100 a day, or you can hire a pro for around $300 to $500.

Drop ceilings are overcoming their bad reputations with acrylic panels that imitate other materials or have attractive patterns. They generally cost between $2.00 to $6.00 per square foot.

Finally, tongue and groove wood such as pine looks great and is lightweight, making it perfect for a warmth-adding ceiling. Expect to pay between $1 and $3 per square foot for the paneling.

Floors - $300 - $5,000

Basement Bathroom Installation

You can fit a full bathroom with tub/shower combination in a room that measures 40-square feet. However, on average, a smaller bath (with just a stand-up shower) or a half-bath usually needs to be about 30-square feet for comfort and functionality. Depending on the basement space and layout, you may be able to go with a larger 60-square feet or more bathroom space. Creating bathroom with a separate water closet may require 100-square feet or more.

For a professional to do the full bathroom installation, expect costs to range from $10,000 to $15,000. Tackling the full installation on your own can cut costs approximately in half.

Additional Rooms and Features

The final touches for a finished basement can make it as amazing as any room in the house. Recessed lighting keeps headspace as high as possible while crown molding adds a luxurious touch. Wall-to-wall carpeting or hardwood floors add comfort and warmth to the living space. Paint and wallpaper can add style while built-in storage adds function.

Finally, if the space is too big to be a single room but too small to be multiple rooms, consider visually dividing the room with a counter. It can be lower for children to use as a craft table, or it can be bar height to become a standing desk.

Permits

Failure to obtain proper permits can result removing (demo-ing) any current finishing work or remodeling already installed. You could also face fines. A stop work order may be issued, which usually causes double the fees when you do, eventually, apply for the permit(s). If you have to file an insurance claim and cant produce any permits, the insurance company may deny the claim. Finishing a basement without permits also can affect the home's resale value.

Permits for most jobs cost about $50.

Foundations

Old homes may suffer from sagging foundation beams as a result of shifting ground or decay and deterioration of the original building materials. Foundation beams can be raised and shored up successfully, but the right tools, like a pneumatic jack, are essential. Depending on how much the foundation beam must be raised, this job may require several days of incremental steps to complete - which means increased labor costs. Hiring professionals is the best option for this job. Expect costs to run about $10,000 for repairs like a shifted foundation.

Pillars are a common element basement finishes and remodels need to work around. The basement pillars most likely provide integral structural support for your home. Do not move them without consulting a professional contractor. Alterations to the structure of your basement or foundation should be done by a professional prior to refinishing.

Water Leakage

Waterproofing comes in a variety of techniques. It depends on the source of the water and its severity. On average, basement waterproofing costs around $7,000, though minor waterproofing can cost as little as $300 to $500. Be sure to get multiple quotes and details about the job. Have your basement checked before beginning any remodel.

Added Value of a Finished Basement

In Conclusion

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