2018 Basement Remodel Cost Estimator | Avg. Renovation …

Average Cost to Remodel a Basement

The cost of a basement remodel can be significant, but your potential return on investment is just as considerable. In addition to adding to your living space, the average basement remodeling project also increases your home's resale value. The National Association of Realtors considers basement remodels to be among the most valuable home renovations.

Installing a bathroom in your basement can significantly increase its functionality. Of course, it will also add to the costs of your basement renovation. Some cost factors to consider include:

After your new bathroom is complete, or you have remodeled an existing space, get it inspected to ensure all plumbing and electrical installation are done correctly. If your bathroom needs to be installed from the ground up, expect to pay somewhere between $6,000 and $15,000 for the entire project. If your basement is already finished but does not yet have the necessary plumbing for a bathroom in the space, you can expect to pay between $200 - $500 to hire a plumber.

Of course, you can decrease these costs if you decide to only install a powder room in your basement. In that case, you will not need plumbing for a bathtub or shower, decreasing both costs and time of installation.

If you choose to divide a large space into separate rooms, remodeling your finished basement might include framing work. Several elements will impact the cost to frame these rooms during your basement renovation:

After new walls in your basement are framed, drywall must be applied before a room can be finished. Here are some considerations to keep in mind if you want to add new drywall to an existing, finished basement:

Generally speaking, most homeowners spend about $1.50 per square foot for their drywall installation. Of course, these costs can range based on the professional you choose and the area in which the drywall needs to be installed.

Depending on your needs, you might want to texture your drywall or add a sound dampening texture to it. In that case, expect your costs to raise slightly; soundproofed drywall, for instance, costs around $50 per 8x4 panel.

Of course, you are not limited to remodeling your basement in a way that adds basic rooms or a bathroom. In addition, you can also add a number of other renovations to transform the space.

A home theater is the ultimate solution to watching sporting events or movies with guests and family. Installation of a mounted 48-inch TV with appropriate wiring and seating will cost about $1,300. At the same time, a full theater with digital sound, projector and screen, and custom seating can cost as much as $16,500.

Once you add some of the custom features above, that return on investment can rise even further. Some realtors, for instance, consider adding a bedroom to add about $100 per square foot to the value of the home. According to that estimate, a new 12x12-foot bedroom in your basement raises your home's value by just under $15,000.

Adding a bathroom or extra living space comes with similar value improvement. And that doesnt even consider the additional joy you and your family will get out of the new space, or the increased speed at which a home with a wet bar or home theater in the basement might sell on the open market.

Make no mistake: a basement remodel is a major project. An understanding of the variables above can give you a better understanding of what awaits you, and how to plan for it.

You can customize your renovation with your budget and preferences in mind, ultimately arriving at a better basement for both residents and visitors. Considering the improved resale value thanks to the renovation, a well-planned and executed remodel will be well worth your investment.

Was this page helpful? Please Select 5 - Extremely Helpful 4 - Very Helpful 3 - Helpful 2 - Somewhat Helpful 1 - Not Helpful

Excerpt from:
2018 Basement Remodel Cost Estimator | Avg. Renovation ...