Tips for Basement Remodeling
One way to expand the living areas, recreation areas and guest quarters in your home is with basement remodeling. Most homeowners see their open basement space as a blank canvas that can be converted to practical playrooms, recreation rooms, guest quarters and even extra bathrooms. The good news is that it is usually less expensive to remodel open space than it is to remodel and convert partially finished space. However, many Americans leave no stone unturned when remodeling their basement space. Prices for more luxurious basement improvements can easily cost as much as $40,000 or more.
Before we consider large scale basement remodeling, let’s get a better understanding of what a basic basement remodel offers and what it might cost in 2017. Assuming you are staring with a blank canvas and no demo work is required, a typical basement with new drywall, carpeting and new ceiling materials can run anywhere from $6,500 up to $15,500. If demo of a finished or partially finished basement is required, plan on spending between $1,500 and $3,000 to prepare the site.
If you are adding a bathroom, costs will quickly rise. But, a basement bathroom for house guests or even for the family recreation room may have tangible benefits.
If you are finishing the basement, you will need to carefully check that the HVAC and electrical systems can accommodate the expansion. If a basement bath is being improved, expect to pay between $1,000 and $4,000 depending on the condition, space and equipment necessary to bring the bath up to par. Your remodeling contractor can quote you a fair price but make sure you understand what is included as part of the bid.
Remodeling professionals report that adding a basement bathroom, kitchenette, cabinetry, hardwood floors and figuring in HVAC and electrical upgrades can run between $10,000 for smaller projects to $50,000 for larger basement remodeling projects.
However, if the home only has a partial basement and more excavation is necessary, add between $10,000 and $30,000 to the cost.
Square Footage Pricing
Labor will usually constitute the major expense in basement remodeling. But, materials and appliances can also influence the cost. Home Adviser provides these basic estimates for professionally remodeled basements according to the square footage.
• Small basement of approximately 700 square feet – $15,000
• Average basement of between 700 and 1,000 square feet = $18,531
• Large basement of 1,000 square feet or more = $30,00 - $40,000
These estimates are for basements that are finished with a new ceiling, flooring and other features of moderate cost. If you select high end products, the cost will be higher.
How you decide to use your remodeled basement will be a big factor in the cost. For example, if the purpose of the remodeling is to create space for entertainment, you will want space for comfortable seating and a large TV or projection screen, or a pool table or ping pong table. And, you may elect to add a basement bathroom.
On the other hand, if the purpose is to create a recreation room where children can enjoy video games and other programming, you may want more open space. The idea is to create a hangout where your children are safe and have plenty of options to keep them occupied. Many remodeled basements serve as home offices because the space is quiet and out of the traffic flow.
But, the most expensive choice is to remodel the basement for guest quarters that include a private bath and even a kitchenette. This option takes planning and careful budgeting but will certainly add value to the home. You have many options when remodeling your basement. Which one works best for you?