On average, a basement remodel will cost between $85 – $150 per square foot. How much you spend depends on a number of things, like where you live, the type of work done, materials used, etc. Remodeling a finished basement may actually be more expensive than an unfinished basement, due to demolition or site preparation. If your home has a partial basement, extending the foundation will significantly add to the cost.
Some of the most expensive aspects of a basement remodel include:
- Interior Footing Drain
For people who love to entertain, a wet bar can add a fun, new element to your home. It will require plumbing and electrical work, which will add to the cost. Other popular basement remodeling ideas include:
As with any home renovation, a basement bathroom will be one of the most intensive — and expensive — rooms to add or renovate. It will require plumbing, electrical and material costs. Depending on the layout of your basement, it may also require moving things around, which will raise costs.
Adding a kitchenette into the design of your basement will allow you to easily entertain and host guests on both floors of your home. Most kitchenettes include a sink, a microwave, a mini-fridge, and a hotplate. Some homeowners are now choosing to add in smaller stoves and ovens into their design so that they’re able to cook full meals without ever leaving the basement. While adding a kitchenette may increase your remodeling budget, it will also increase the value of your home should you ever decide to sell.
A large, open basement can be the perfect space for children. Costs will vary based on what you do, but don’t be afraid to think outside the box. Built-in bookshelves and storage spaces for toys, reading nooks, and secret spaces or climbing areas can transform a room into a whole new world. Costs will vary based on how much demolition you need and what materials you use. For older children, you can transform it into a “rec room” with video games, TVs, or indoor arcade games. Costs will again vary, but you’ll want to make sure the electrical work is top-of-the-line. Think lots of outlets, built-in speakers, and maybe even a space for a mini-fridge.
Whether you work from home or just need a space to pay bills and catch up on emails, a home office is a must! They not only offer a quiet place to unwind, but also allow you to have some privacy while working away on your computer. For your home office, you will need good lighting for reading and durable flooring for your office chair.
If you need more space for your guests or an incoming relative, the basement may be the perfect place to add a new guest suite. Most guest suites offer a bedroom, bathroom, and a small living room for entertaining. You could also consider adding a kitchenette for even more convenience. If you don’t have many overnight guests, you could also turn your guest suite into an apartment to rent for additional income.
Who says the kids should get to enjoy all the benefits of a basement remodel? Create your own home theater without taking over your main living room. One of the simpler remodeling projects, the biggest things you need are ample seating and a good spot to set up your large TV. Surround sound can take it to the next level and really make it feel like a theater. (You’ll want to make sure your electrical wiring is up to handling high-end electronics, and maybe even a microwave so you can keep the popcorn handy.