Cost to Finish Basement Depends on Need

If you’re playing around with the idea of basement refinishing but you’re not sure where to start, you’re probably wondering what kind of financial commitment you could be getting yourself into.

You may know you need extra space whether for housing family members or guests, a home theater room, a gym or that basement bar you’ve always wanted but at the same time, you want to make sure you’re getting the best deal before pouring extra resources into that dark, unfinished space below your home.

Total Cost vs. Price per Square Foot

What many people want to know when considering basement remodeling isn’t the total cost of the project but the price they’ll pay per square foot. Somehow, they think having this information will help them save money overall.

Unfortunately, that’s not always the case. See, many factors determine the cost of a basement renovation — some you can control, and some you can’t — yet all of them have an effect on renovation rates.

Before you proceed, think about what you want and need from a basement remodel. Once you understand your needs and desires, consider the following price-determining factors to help decide whether or not you should actually take the plunge.

Factors that Determine Cost

The first, and perhaps most influential, factor that determines price is what’s going into the space and how it will be used. For instance, if you’re adding a home office and simply need an area to house equipment, then buying carpet, a little artwork and some good lighting may suffice, and would help keep the price per square foot relatively low. If, however, you’re installing a state-of-the-art bathroom with new plumbing and expensive tile work, you could find yourself spending a lot more for a space of the exact same dimensions.

Your personal taste also helps determine how costly your finished basement design becomes. If you’re happy with the basics and don’t feel the need to install high-end finishes and top-quality items, you can help keep cost at bay. But if, like some, you want your new space to reflect who you are with beautiful, expensive touches, expect to pay more for what’s important to you. Keep this in mind when choosing things like fancy, custom paint finishes; rare, expensive wood trims; luxuriously heated bathroom floors or name-brand lighting.

Typically, areas containing only concrete walls and structural supports are more costly than those with plumbing, electrical, and heating and air conditioning already present. However, if existing utility systems are not up to code and require full replacement, the complete demolition will add to the cost. Additionally, if basement bedrooms are part of the plans, building according to code by adding at least one large egress window for escape in case of fire will also increase the cost per square foot but could end up saving someone’s life.

Getting Professional Help

If you still think a basement renovation may be in your future, we have but one bit of advice: Hire a pro! Here at Basements and Beyond, we work with only the best licensed contractors in Colorado, and can assure top quality workmanship in a space you can be proud of.

Whatever your needs, consider your basement remodel well in advance. It’ll help ensure you get what you want without expensive re-dos.

If you’d like a rough estimate of what your remodeling project will cost, fill out our Free Estimate form. We’ll provide you with an estimated cost based on the information you provide.