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How to Estimate your Basement Remodeling Cost

Outline

You can turn the basement from functional to a centerpiece of the house by remodeling and transforming the space. It is a big and time-taking job to remodel or renovate the basement. There is a need to remodel the different parts, for instance, building a wall. You also need to install window coverings, furnishings, and floors. Remodeling or renovating the basement costs you more. Things like plumbing, electrical work, square footage, and materials cost you from $11,000 to $29,000. You should assume the cost of $10 and $35 per square foot. It depends on the changes made per square foot. If you wish to convert your basement into an apartment, here is the article for you. 

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The Cost of Remodeling Your Basement

It is important to know that remodeling the basement costs much more. However, it is beneficial as it adds value to your house. If you are thinking of selling the house in the future, then it is a great thing to remodel the basement to add value to your house. Basement remodeling is one of the most valuable home renovations. Remodeling costs are an average of $40,000. If you are thinking of finishing the basement, then it would cost you $30,000 more than the average price. The Vinyl Left Hand Sliding Window on Houzz is an amazing option while remodeling your basement. 

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The Cost of Installing a Bathroom in the Basement

If you want to install a bathroom in your basement, then it would cost you more. On the other hand, it will add value to your house. It also increases the functionality of the basement. The factors that you should consider are as follows:

  • Plumbing

Installing a bathroom would require plumbing to connect the bathroom to the water supply and sewage lines. The factors that cost you are materials and hiring a plumber.Opening up the walls to access the necessary area is another factor that adds cost. Additionally, you can increase the innovation inside your basement by using Dyconn Faucet Water Detector Alarm Basement available on Houzz. 

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  • Permits

The first thing is that you should make sure to approve everything you are changing and building during renovation. To get this permit, you need approximately in the range of $100 to $3,000.

  • Inspections

You should make sure that all electrical installation and plumbing is done correctly by inspection. It is a necessary part after completing the renovation or remodeling of your new bathroom. If you don’t have the bathroom in the basement and want to build it, then you should think of the cost in the range of $6,000 to $15,000 for the entire project.

If you need to do the necessary plumbing, then the cost will be in the range of $200 to $500 to hire a plumber for this work. By installing just a powder room in your basement, you can reduce the cost as there is no need for plumbing for bathtub and shower. It would also save you time and money.

  • Framing

You need framing work in case you are dividing the large space into separate rooms. The factors that affect the cost in framing work of the rooms during the basement remodeling are:

  • If there is any need for the demolish and cleanup of existing walls
  • It will cost you more if the framing work involves more walls. The size of the squares footage affects the cost.
  • If there is a need for potential insulation or soundproofing of exterior walls, then it would affect the cost. It costs you in the range of $1,000 to $3,000.
  • If you are exceeding the new space from the old one, then it would be an addition to the cost.

As there is a need for a professional electrician for electrical work or fixtures in the new walls, so you have to spend more money on it. You need $50 to $100 per hour to hire a professional electrician for the work.

Drywall and Ceiling

After framing the new wall in the basement, you should apply drywall. There aresome factors that you should consider before adding a new drywall to the existing wall. They are as follows:

  • Material costs

You can get drywall panels in different shapes. It is up to you to choose the panel according to your needs. 8’ by 4’ is the standard size of the panel, and it costs in the range of $10 t $20. The cost depends on the thickness of the panel and its brand.

  • Installation

While installing the drywall, most homeowners spend $1.50 per square foot. The cost of installing drywall depends on the area in which you are installing the drywall and the professional that you are choosing for your work.

Drywall finish and texture

If you want to add sound damping texture or any other texture, then the cost will rise slightly. If you want to soundproof the walls, then it might cost you $50 per 8’ by 4’ panel.

Drywall vs. Drop ceiling

There comes a point where you need to consider ceiling finishing options. It’s up to you whether you want to use a drop ceiling or drywall. There are some points that you should consider. They are as follows:

  • Cost

Installing a drop ceiling costs you less than installing a drywall ceiling. You can choose the drywall ceiling if the framing is already in place. In this case, the drywall ceiling will be cost-effective. Drop ceiling costs you approximately $1,250 in a room of 10’ by 12’. The drywall ceiling cost you $1,500.

  • Design

Drywall gives simplicity to the room as you pain the ceiling according to the rest of the room. In the case of a drop ceiling, there are many other design possibilities for you.

  • Access

The drop ceiling provides you better access to the wiring or pipes above it instead of the dry ceiling.

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Final Words

You should try to estimate the cost of remodeling the basement to make money as well as resources ready before starting the project. You can use the above-mentioned points and information according to your needs and goals of your project. We hope this will help you to do the job with a clear mind by keeping in mind such estimates.

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