Some people see and use their basement as a storage room while other people want to use the basement for their entertainment and useful space. So they want to turn their basement into something useful as a home office or entertainment place like a home theater.
However, they don’t know how much is a basement renovation. If you are thinking of renovating your basement and don’t know how much will be the cost, don’t worry we got you covered. In this blog, we will tell you everything about the cost in detail. Let’s get started.
The average cost of 1000 square feet basement is around $7000 to $23000, depending on several factors, such as;
The average cost to renovate a basement is between $7 to $23 per square foot. Given the vast variety, the cost will depend on the particular tasks you have in mind. No matter the size, the cost will go up if you upgrade to better materials and make more significant improvements.
The cost to renovate a completely unfinished basement will go up than the partially finished basement. It is because there will be so much work in a completely unfinished basement such as flooring, electrical, plumbing, etc.
Hiring a professional contractor will cost you up to 40% of the renovation project cost. But basement renovation usually needs more than one contractor such as a plumber, an electrician, etc. So may need to hire a general contractor so he can oversee all of the project. But he will take 10% to 20% of the total.
Furthermore, if you want to hire an interior designer, this will cost you $50 to $200 per hour.
As we talk earlier, the cost depends on the size of the basement and the scope of the work you want to do in the basement. If you want to start from scratch then you have to consider every single thing from below. On the other hand, if your basement is partially finished, then you have to consider some of the projects.
Here’s the breakdown of the cost of every project.
Waterproofing $1,900 to $6,500
Sump Pump Installation $600 to $1,600
Framing $700 to 1,400
Insulation $1,500 to $4,000
Flooring $2,000 to $12,000
Electrical Work $1,300 to $12,000
Plumbing Work $2,500 to $15,000
HVAC $2,000 to $11,000
Egress Windows $2,500 to $5,300
Ceiling $1,600 to $3,600
Drywall $800 to $3,000
Painting $1,250 to $3,500
The first step in renovating your basement is to make sure that the water is completely sealed out. The waterproofing of the basement can go around $1,900 to $6,500. The average cost of waterproofing is about $4,500.
Sump Pump Installation is included in waterproofing if there’s a drainage problem in your yard. The cost of sump pump installation usually is $600 to $1,600.
In the framing procedure, a wooden structure is built that serves the role of skeleton for the basement’s renovated ceiling and walls. The cost of framing can go from $700 to $1,400. The more you spend on framing, the more rooms you can create in your basement.
The framed walls should be insulated to keep the comfortable temperature of the basement. The amount of the walls and doors need to be insulated, the cost can go from $1,500 to $4,000.
The basement is the only area where you can save money by choosing low-cost flooring options like laminate or vinyl flooring which costs $3 to $8 per square foot, this includes installation. Depending on the flooring material you choose, $2,000 to $12,000 can be easily spent on flooring.
To meet building codes, every city and municipality requires you to hire a licensed electrician for the basement’s electrical work. It can cost you $1,300 for small work but the cost can go up to $12,000 according to the scope of your work.
You have to hire a professional licensed plumber just like an electrician. According to your needs, you have to pay $2,500 to $15,000 for plumbing work.
HVAC projects for the basement can cost you around $2,000 to $11,000.
If you want to use your basement as a living place or office after renovation, you will egress windows in case of emergencies. Depending on the quality and amount of windows you want to install in your basement, the cost can go from $2,500 to $5,300.
Many homeowners prefer ceilings in renovated basements because they can hide pipework and wires. Installation of the ceiling can cost you $2 to $5 per square foot which can make $1,600 to $3,600 in total.
To make your basement livable space, installation of drywall is necessary. $800 to $3,000 can be the cost for drywalling the basement.
Depending on its surface area, painting the completed drywall typically costs between $1,250 and $3,500. Any visible pipes or ducts can be camouflaged by painting them the same color.
A basement renovation typically takes 4 to 12 weeks, depending on the scope of work.
Yes, a basement renovation can significantly increase your home’s value and provide additional living space. On average, a well-done basement renovation offers a return on investment (ROI) of 70%, making it a valuable home improvement project. Plus, it can serve as a guest suite, home office, entertainment area, or rental space, adding functionality and income potential.
Several factors influence the overall cost, including:
The cost of the basement renovation solely depends on the size of the basement, the scope of the work, and the quality of the materials and finishes you want to use in your basement renovation. In this blog, we covered every possible expense that you may have to pay when renovating your basement.
TNA Renovations provides you with complete basement, kitchen, bathroom, and full house renovation from start to the very end. If you don’t want to deal with so many contractors, contact us, and we will help you to get through every renovation process.
All Rights Reserved – Powered by DigiMax
