Finish Basement
Ideas, costs, tips and plans - the information you need for a successful Basement Finishing project
December 2021
Homeowners have many important questions about their Basement Finishing Project. How much will it cost? How long will it take? What problem areas do I need to watch out for? Can I recover my Basement Finishing investment when I sell? Can I do some of the work myself? What can I do to make sure that the work is done right?
Costs, materials and best practices for the example Basement Finishing project will help you answer these questions. Use this information to develop a budget, bid requirements, hiring contracts and a project plan.
Basement Finishing - Project Overview
The approximate costs and value of a typical Basement Finishing project are summarized below. Use higher estimates for larger metropolitan areas and the lower estimates where home prices are below the national average. Adjust costs for substitutions or refinements in the last section. For size differences of up to 25%, scale total costs in direct proportion to the size of your project. Use the adjusted costs as a basis for setting a material budget and for comparing contractor bids (if you choose to have a professional perform the work).
| Project description | Convert unfinished basement into living space. Waterproof and insulate walls. Update flooring, electric circuits and lighting. Use above average grade of materials, fabrication and installation quality. |
| Project size | 600 square feet |
| Material and labor cost | $8,442 - $9,849 |
| Material cost | $4,905 - $5,723 |
| Do-it-yourself assessment | The typical Basement Finishing project involves tasks that are best performed by experienced professionals. Good quality Basement Finishing requires considerable experience, skill and attention to detail. Do it yourself mistakes are noticeable, may be difficulty to remedy and may actually reduce the market value of the project and your home. |
| First year Return on Investment - ROI | Results vary widely and can be affected by the range of home prices in your neighborhood, the overall condition of your home and sensible design choices. A high quality Basement Finishing project in an appropriate neighborhood can return 93% or more of its initial cost. |
| First year Return on Investment - ROI | Returns vary widely and are affected by the range of home prices in your neighborhood, the overall condition of your home and sensible design choices. A high quality Basement Finishing project in an appropriate neighborhood can return as much as 77% - 91% of its initial cost. |
| Green rating | Basement Finishing projects can incorporate renewable or sustainable resources and environmentally friendly materials. |
Basement Finishing - Project Plan and Details
The following list includes major work tasks commonly performed during Basement Finishing. Use this list to understand the timing and sequence of different steps in the Basement Finishing project. Click any Task name for a complete written specifications, FAQs and quality checklist for the task - this essential information will help you control Basement Finishing project cost and quality.
Do you expect to spend more than $250 on your Basement Finishing project? If so, it is important create and manage a detailed plan for all project activities.
Basement Finishing - Proven Ideas and Project Tips
Review these tips, design suggestions, options and lessons learned before finalizing your Basement Finishing project plan.
- To maximize return on the Basement Finishing project, limit cost to no more than 5% of home's total, post project value
- For best home resale value, follow a consistent design and decorating theme throughout the home
- To keep Basement Finishing costs low, do not move walls or relocate plumbing fixtures or electrical boxes
- Perform major Basement Finishing work with permits to help protect value at resale time
- For best resale value, select components, appliances, finishes and fixtures of comparable quality
- Understand how your project will change property taxes (assessed value) and home insurance - before the project begins
Hiring Local Professionals
Our FREE hiring guide helps you hire wisely, get quality craftsmanship and understand fair pricing for your specific project.
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