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 remodeling your unfinished basement to a living space is a great idea. It is one of the best home remodeling projects you can perform to add function and beauty, as well as increase the overall value of your property. 

Alongside this, you might be wondering: “how much does basement remodeling cost?” Well, there is no definite price tag for this matter since the costs for materials, labor, and fixtures all fluctuate over time.

In this article we’ve done our best to give you insights into the average cost to remodel a basement as well as a break down of the cost of remodeling basement parts separated so you can see how much each part of a basement remodel might cost you.

You can use this information as a sort of basement remodeling cost calculator by adding up the different parts of your basement you want to remodel. So if you are doing a basement remodel on a budget you can have a better idea of what different parts cost and maybe decide where you need to save money.

Average Cost To Remodel Basement

The average cost to remodel a basement will vary wildly depending on your location, the size of your basement and current state of your basement. This makes it hard to make an accurate estimate for your basement, however, we can give you the average range which falls between $11,000 to $30,000, where most homeowners spend around $21,000. 

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

Simple Basement Finishing Cost Estimator

If you just want to finish your unfinished basement to make it a liveable space rather than just a storage area, 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 simply finishing your basement, you are creating a new liveable space inside your home without breaking the bank. This kind of project will not only give you more liveable space, it will also increase the value of your home helping to recoup some of the costs when you decide to sell your house.  

If you need free consultation for your basement remodeling project, then feel free to contact us today.

Basement Remodel Cost Calculator 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 per square foot and it can go up to $150 per square foot. So if you have a 700 square foot basement, then your estimated budget is around $24,500 at the lower end of the spectrum.

To add to your knowledge, we have 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 of a basement remodel?

Before you dive into redoing your basement, 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 get advice from basement remodeling services from the very start to avoid any costly mistakes.

Fortunately, we at Mega Kitchen and Bath are 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 your basement.

Cost Breakdown For A Standard Basement Remodel

  • Basement design fees– the approximate cost to pay for designers to draw the layout of your basement remodel is around $2,000 to $13,000.
  • Waterproofing– not all basement remodels will need this, but it can be necessary and is a good way to protect your home from water damage. The estimated price for this is around $2,000 to $7,000.
  • Permits– the standard price for permits and inspections of a basement remodel is around $300-$2,000.
  • Insulation– most modern building codes will require you to insulate your new basement to save on energy usage, which typically costs around $500 to $1,500.
  • Framing– framing is needed when you want to add interior walls or possibly to house the insulatiin. 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 Work– this cost will depend a lot on how much electrical work is existing in your basement, how much you need to change and how much you need to add. 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 kitchen, then you will need to hire a plumber to change your pipes, which costs around $450 to $1,850.
  • Drywall– the average rate for hanging new drywall in your basement is approximately $1,100 to $2,600. Meanwhile drywall repair costs from $520 to $1,200.
  • Wall Finishing– After the drywall is up, you need to make it look good. Wallpaper can cost $550-$4,550, while painting can cost from $500-$3,200.
  • Ceiling– installing new ceilings in your basement can cost between $950 and $2,450. 
  • Flooring– when choosing a floor for your basement, you want to choose something that will withstand some moisture in case of flooding. The average price for floor installation is estimated at $1,600 to $4,600.

For a more detailed free estimate, feel free to call our office today.

Bonus Features To Consider For Your 2021 Basement Remodel

Whether you are renovating your unfinished basement for listing or plan to keep your home forever, you have a lot of options of features and amenities you can install to increase its functionality, aesthetics and value. By adding these things, you are making your basement more livable and enjoyable for your family and guests.

Bathroom

Installing a bathroom in your basement remodel is an awesome idea that makes the basement a lot more comfortable. On average, the cost of installing a bathroom ranges from $6,500 to $15,500. 

Bedroom

Maybe your family is growing and you need another bedroom, or you want to add a guest room, adding a bedroom in your basement is a great investment. The average cost for this is $3,600 to $10,600.

Mini-Theater

A basement is a great space for a home movie theater because it is darker and more soundproof than other parts of the house. A movie theater can be a luxurious way to make use of your basement space

The cost for this project is around $310 per square foot, and this includes the theater seating, soundproofing, sound system, projector, screen and lights.

Wet Bar

A basement can be a really cool hangout for you and your friends and with a wet bar you can mix up some delicious beverages for an average installation cost of $6,500 to $22,600. Why go outside to party when you can do it in the comfort of your home?

Small Home Gym

Instead of traveling back and forth to the gym, you can install a mini home gym as part of your basement remodel, where the average installation cost is $550 to $25,500

For a deluxe home gym you need to have an extra $10,000+ for hardwood floors, wall mirrors, and workout machines.

Sauna

There are not many things more luxurious and relaxing than a custom made basement sauna. 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 unfinished basement into a comfortable extension of your home. 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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