It can be intimidating to find an estimate for remodeling your basement. Start by understanding that total costs can run anywhere from $5,000 to $60,000. Most of that cost is labor. So, if part of the project is simple, it may be wise to complete it yourself. Unfortunately, the combination of knowledge required often calls for a professional.
First, let’s look at some estimates based on the size of the basement. These estimates are on the high end and assume a professional completes the entire project, so many projects will not cost this much. Completing a project entirely by yourself can save you more than half the cost. These costs are just a “top line scenario”:
- average of $15,000 for a basement up to 700 square-feet.
- average of $20,000 for a basement between 700 and 1,000 square-feet.
- average of $40,000 for a basement larger than 1,000 square-feet.
Now that we know a rough estimate of basement remodeling cost, we can look at the parts and costs of remodeling a basement. Decide what types of rooms you want in your remodeled basement so you can map those rooms out. Some room types are: Office, Bathroom, Play room, or a home theater.
After you have planned what you want in your basement, you can begin to look at what materials you will need for each room and what types of professionals you need to complete the project. So, you need to consider materials, electrical, and plumbing. The following will give you information about each.
- Materials: Consider the cost of walls, ceiling, flooring, lighting, and insulation. Drywall costs about $15 per panel. Sheet paneling costs between $12 and $30 per panel. For a typical floor, carpeting and tile cost around $1,500. Vinyl costs $400, and hard-wood costs $4,500.
- Electrical: Your basement will need additional wires to support new lights and electronics. Electrical work is dangerous, so it is best to hire a professional for this work. Additional costs to include are: lighting, outlets, and new appliances.
- Plumbing: Like electrical, plumbing usually requires a professional. Other costs include: toilet, bath, shower, and sink.
Despite the large costs of entirely professional remodeling, a remodeled basement can be a great addition to your home, and it can significantly increase the resale value. Make sure to get permits for everything because compliance with building codes will ultimately save money.