Average Basement Remodeling Costs – 2021 Prices

basement remodeling

For those who are planning to create another livable space inside their house for a reasonable cost, then going for your dusty basement is a great choice. It’s one of the best home remodeling projects you can perform to add function, beauty, and increase the overall value of your property. 

Alongside this, you might be wondering, “how much does it cost to remodel my basement this 2021?”. Well, there’s no definite price tag for this matter since the costs for materials, labor, and fixtures also fluctuate over time.

Anyhow, we’ve done our best to give you insights into the possible prices of the factors comprising remodeling your basement in 2021. Stay tuned to learn more about it.

What’s the average cost to remodel your basement?

Technically, there is a continuous disagreement on what must be the standard cost for the best basement remodels this 2021. However, what we can give to you is only the range which falls between $11,000 to $30,000, where most homeowners spend around $21,000 at a minimum. 

Meanwhile, your budget increases when you install more amenities and fixtures like bedroom, bathroom, wet bar, mini gym, and more. Also, the larger your basement space, the higher will be your cost.

What about the cost to just finish your basement and make that livable?

Conversely, if you just want to refinish your unfinished basement, then the lowest and highest cost you can spend is between $3,000 to $35,000, where the average price homeowners spend is approximately $18,000.

By finishing your basement, you are creating a new livable space inside your home without breaking the bank. Moreover, you get both recoup and appraisal in home value for undertaking basement finishing on a budget. In case you need free consultation and design for your basement remodeling, then feel free to contact us today.

How much to remodel your basement per square foot?

We can also give you an estimate for remodeling your basement on a per square foot basis, where the average rate is between $35 to $80 and it can go up to $150 per square foot. So if you have a 700 square feet basement, then your estimated budget is around $24,500 at $35 per square foot rate.

To add to your knowledge, we included estimates based on the area of your basement. 

  • Small basement (300-700 sq.ft.) = $9,000 – $53,000
  • Medium basement (700-1500 sq.ft.) = $22,000 – $113,000
  • Large basement (1500-2000 sq.ft.) = $45,000 – $150,000
  • Oversized (2000-4000 sq.ft.) = $61,000 – $300,000

What’s the cost breakdown to a basement remodel?

Before you dive into redoing your entire basement setup and structure, make sure you have carefully planned it from the start, and that includes budgeting. If you will be doing a huge makeover with your space, then we suggest that you avail basement remodeling services to avoid any costly mistakes.

Fortunately, we at Mega Kitchen and Bath can be one of your best companies to call for this matter since we have extensive experience, modern tools, equipment, and trained professionals in this field. You can call us today and ask for a free quote and design for the future face of your newly remodeled basement.

Moving forward, here is the cost breakdown for a standard basement remodel.

  • Basement design fees. Your approximate cost to pay for designers to draw the layout of your basement remodel is around $2,000 to $13,000.
  • Waterproofing. This isn’t necessary yet it’s great for long-term investment when you waterproof your basement before finishing the drywall. The estimated price for this is around $2,000 to $7,000.
  • Permits. The standard price for inspections to get a permit for your basement remodel is around $100-$2,000.
  • Insulation. With the problems of moisture in basements, it’s no longer a surprise why you need to insulate it using a fiberglass batting, which typically costs around $500 to $1,500.
  • Framing. The framing cost for remodeling your basement is $5-$7 per square foot, and if you want to install additional single walls, then it costs around $1,000 to $2,750.
  • Electrical connections. The average hourly rate of an electrician is around $50 to $100 per hour, and the overall cost is between $550 to $2,550. 
  • Plumbing. If you’ll be adding a bathroom, laundry area, or sauna, then you will need to spend for changing your pipes which costs around $450 to $1,850.
  • Painting. After installing your drywall, you need to either paint or cover them with wallpaper for beautification. The former costs around $550-$4,550, while the latter is $500-$3,200.
  • Drywall. The average rate for hanging drywalls for your unfinished basement is approximately at $1,100 to $2,600. Meanwhile, if you need to repair your drywalls, then it costs $520 to$1,200.
  • Ceiling. For installing new ceilings on your unfinished basement, the average price is at $950 to $2,450. You have three options for it- standard drywall, drop, and painted ceilings. 
  • Flooring. In choosing your basement floors, be practical and don’t spend so much for it because of the high risk of flooding and water leaking. The average price for floor installation is estimated at $1,600 to $4,600.

For your free quotations, feel free to call our office today.

What are the things you can add to your basement remodeling this 2021?

Whether you are renovating your unfinished basement for listing or keeping, you have the free will to decide what things or amenities you want to install to increase its functionality and aesthetics. By adding these things, you are making your basement more livable and enjoyable for your family and guests.

Bathroom

Installing one or two bathrooms in your basement remodel is an awesome idea since your family and guests no longer need to go upstairs and use the toilet. On average, the cost of installing a bathroom is $6,500 to $15,500. 

Bedroom

By installing a bedroom in your newly remodeled basement, you can allow your relatives and close friends to sleep over for the night. Meanwhile, the average cost for this is at $3,600 to $10,600.

Mini-Theater

It’s also a creative idea to create a mini theater inside your basement where you can watch movies together with your family and guests. Your basement is the closest space that resembles that of the original movie house because of its closed space and soundproofing. 

Meanwhile, the cost for this project is around $310 per square foot, and this quote already includes the theater upholsteries, soundproofing, sound system, projector, screen, and lights.

Wet Bar

After watching a movie, maybe you can grab some drinks in your basement wet bar (that’s cool) for an average installation cost of $6,500 to $22,600. Why go outside to party when you can do it at the comfort of your home, right?

Small Home Gym

Instead of traveling back and forth to the gym, you can install a mini home gym in your basement remodel, where the average installation cost is $550 to $25,500. If you’re on a budget, then you can go for the cheaper workout equipment like dumbbells and barbells.

Then you need to have extra $10,000+ if you want to have hardwood floors, wall mirrors, and affordable cardio exercise machines.

Install a sauna

Once you’re done with your workout, it’s also nice if you have a steam room for relaxation. Its average installation cost is around $3,200 to $6,200. Meanwhile, if you go to a prefab sauna then it will cost around $2,500 to $5,000/

Need Professional Assistance?

Get in touch with us today, and let’s turn your dated basement into a paradise and living room extension. If you need free consultation and estimates, don’t hesitate to call our office today or visit us at Houzz anytime!

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