Basement Finishing Costs
Remodeling the basement can make a huge difference – it means extra living space for the family. You could set up a home office in the basement or have play rooms for your children. There are so many things you can use a basement for, after a proper remodeling and finishing job. In this article we tell you about basement finishing costs and the factors that influence them.
Why finishing the basement is so difficult?
Finishing the basement is not easy because there are so many things in it, such as the boiler, furnace, hot water heater, pipes that carry water to the house and sewage lines. This makes the basement very susceptible to possible water leakage. So waterproofing the basement is one of the essential things that you will need to get done. But since the basement is not a part of your living space, you can take your own time for the refinishing and do it gradually, one small area at a time.
How much does Basement Finishing Cost?
If you do your basement finishing as a DIY project, then it would probably cost you between $10,000 and $30,000. Some of the things you can consider doing on your own would be installing moisture control, adding furnishings and décor, wall frames and so on. Waterproofing the basement and adding energy-efficient insulation is a must. The cost of the waterproofing depends on the basement in question and the renovation work needed to be done.
If the basement finishing requires extensive renovations to be done such as plumbing and electrical work, then clearly this is something you should not attempt to do on your own – that would be too dangerous. It’s better to hire a building contractor for any extensive work to be done in the basement such as adding a bathroom or HVAC units. This may cost around $65,000, if not more.
There are basement finishing systems that are available in the market which cost between $45,000 and $55,000. These systems include solutions such as lighting, moisture-proofing the basement, insulating the wall panels and the ceilings and so on. You will need to hire a professional building contractor to install these out-of-the-box solutions and shouldn’t attempt to do so on your own.
Other Factors to Consider…
Foundation – It’s possible that you have sagging foundation beams – this is a common problem in older homes. The foundation beams have to be raised and shored up. This will increase the cost of your basement remodeling project and will cost a lot in terms of labor charges, as you will need to hire several people for this task. You can trust your building contractor to handle this for you.
Water Proofing – Water leakage in the basement is a huge risk for homeowners. The only way to stop the water leakage once it starts is to remove the water completely and then seal the leaks. This would require a lot of work to be done such as removing the wall covering and the paint and replacing the soggy beams.
Basement Design – The basement design should be such that it suits your lifestyle and the needs of your family. If you plan to sell the house soon, it doesn’t make sense to spend a lot on the basement design. If you have small children, safety should be your biggest priority, so care should be taken to make the basement child-friendly. If you plan to have a home office or study in the basement, add energy efficient LED light bulbs to make sure that it is brightly lit.
Basement remodeling is something that you shouldn’t attempt to do on your own – always hire an experienced contractor for this. Do talk to your building contractor for help with creating a proper budget for the basement finishing.