Trying to find how much it costs to finish your basement?
Finishing your basement is an excellent way to increase the living space in your home while boosting its value. While every homeowner with an unfinished basement has the desire to finish it one day, the biggest obstacle is often budget. That’s why we are breaking down how much it really costs to finish a basement!
How much does a basement finish cost?
Like anything, the cost of a basement finish can vary dramatically depending on the the size of the basement and the type of materials to be utilized. In this article, we will cover the following topics:
- What is the average cost of a basement finish?
- What work was already completed when the home was built?
- What types of material are to be used?
- Will your basement have any upgraded areas? (i.e. bar, theater room, etc.)
- How long does it take to complete a basement finish?
- What to consider when completing a basement finish?
What is the average cost of a basement finish?
At HomeWorx, the average cost of a basement finish is $35,000 in the Des Moines area. The range of our basement finishes can be as little $15,000 to $50,000+ depending on the scope of work. A number of factors come in to play when determining the cost of a basement finish. Throughout the remainder of this article, we will speak to some of the major items affecting the price.
To receive a custom basement finish estimate, schedule an appointment with us here.
What work was already completed when the home was built?
In many cases some of the initial steps to finish a basement may have been completed when your home was originally built. This is much more common in homes built within the last 15 years. Some of the questions to consider are:
- Were the plumbing drain lines already roughed in for the bathroom?
- If the answer is yes, it will save us from breaking up concrete to run the drain line. We will simply need to run waterlines to the location of the bathtub, toilet and vanity.
- If the answer is no or you don’t like the current location we will have to break up concrete. After the concrete is broken up drain lines will be run as needed and concrete will be poured to cover.
- Was any of the framing already completed?
- Typically, we will see no framing completed or only the exterior walls.
- Was insulation installed?
- Many times insulation was previously installed in the basement. Some people opt to put insulation in the ceiling for a sound barrier as well.
- Is the electrical panel in the basement or garage?
- If the panel is in the basement already it means easier access and a less expensive install.
- Is there an egress window?
- If the basement will include a bedroom it must have an egress window. Many municipalities are beginning to require an egress window in a basement even if it will not have a bedroom.
- Does the basement already include supply and return lines for the furnace and air conditioner?
What type of materials are to be used?
An entire book could be written on this question but to keep it simple we will focus on the major material costs that go into a basement finish…
- Lumber, electrical rough in, plumbing rough in, insulation, drywall: With these materials there is not a lot to decide. The materials are standard with little variance in pricing. The one caveat would be on insulation. If you opt for the spray foam upgrade you will likely add around $3000 in additional insulation expense.
- Are we going with painted or stained trim? Stained trim does cost more in terms of the material as well as the labor for staining and install.
- Intricate trim work? Are we matching the main floor? If so, is the molding around your windows and doors intricate? Will crown molding be added?
- Painting: Painting is an area some homeowners choose to tackle themselves which we are ok with. Our word of caution is a paint job can make or break a basement finish. After spending the money to finish the basement the last thing you want is a sub-par paint job. The main items affecting cost is the number of colors in the basement. A single color throughout the basement will be less expensive than multiple colors in the basement.
- Flooring: Carpet will be the least expensive flooring option in your basement with a cost of $3.50-$5.00 per sq ft installed. If you are wanting a hard surface flooring many people are going with a product called luxury vinyl plank (LVP). You can expect to pay between $6-8 per sq ft installed.
- Bar: Will the basement include a bar? Wet bars are becoming more and more common in basements but it is an area that can quickly increase the price tag. Once the additional plumbing, cabinetry, countertops, etc are taken into account you can expect to add an additional $5000-$10,000+ to your basement finish.
- Bathroom: The basic bathroom finish in a basement will cost $5000-$7000. If you opt for a tile shower, heated floors or any other upgrades you can expect a higher cost. For great detail on bathroom costs you can read our blog post here.
How long does it take to complete a basement finish?
On average, a basement finish will take us 6-8 weeks to complete.
What to consider when completing a basement finish?
- How do you see the basement being used?
- Every guy has dreamed of a basement bar but it does add considerable expense. Do you really have your friends over that often? If so, it’s well worth the expense of adding this upgrade.
- Mainly a family space – Opt for comfortable and cozy finishes without breaking the bank. Upgrade the TV for a great movie area.
- Does your basement ever experience any moisture problems?
- If so, we will want to discuss mitigation plans prior to finishing the space to ensure your newly finished space is not ruined by moisture.
Basement finishes come in all shapes and sizes. Keep your budget in mind and work from there. Generally speaking, there is a basement finish that fits most budgets.
To receive a custom basement finish estimate schedule an appointment with us here.