THE REAL COSTS TO REMODEL YOUR BASEMENT
Thinking about remodeling your basement, but unsure about the cost? It can be significant depending on your wants and needs. Before embarking on a remodel, it’s best to consider what features are most important to you and your family and to learn about the potential costs of a typical basement remodel.
There are two main factors in determining a renovation: what you are planning to do with the space; and the scope of the upgrade. The price range will vary based on its purpose, such as creating new office space, an entertainment center, or just adding more storage space.
If you’re looking to make some basic basement renovations the cost could be as low as $1,000 – $6,000. This estimate would include waterproofing the flooring and walls, installing carpeting and wall paneling, and possibly upgrading the floors and lighting to create additional living space. The cost depends on the condition of your basement, the extent of the upgrades and if a sub-contractor is needed for specific installations.
If you’re considering an extensive basement remodel you could be looking at spending from $30,000 to $65,000. Again, the range in cost will depend on how you plan to use the space, what is involved in creating your envisioned remodel, and the size of your space. For example, adding bedrooms, a bathroom, plumbing, more exterior insulation, electrical wiring, new flooring, upgraded lighting and sub-contractor services will all increase the price. These are all things for you to consider before undertaking your basement renovation.