The Average Cost of Finishing A Basement – The Truth

Here is the real cost of finishing a basement

A finished basement not only adds value to your property but provides you with extra space for your leisure. Basements can be finished to fit a variety of needs. Generally speaking, a basement finishing project can cost anywhere between $10,000 to 100K depending on your requirements. Read on below and find out about the average cost of finishing a basement.

Permits and Approvals

  • Before undertaking any work, even at your own house, it is imperative that you apply for a permit. This can be obtained from the local building department of your city. The building department will also dispatch officials that will conduct a safety assessment of your property. Since basement finishing work includes electrical and plumbing work, therefore their approval is necessary.

Having a permit and all the required documentation will be valuable for you in the future if you want to sell your house. This will make sure all the work is documented and will help to increase the value of your property. The permit and inspections will cost you around $1,600.

Contractor & Labor Costs

  • Even if you plan to finish your basement as a DIY project, you will still need to hire labor for tasks such as plumbing and electrical wiring. Saving money and doing them yourself can cause several safety and structural issues for your home.

It is in your best interest to call up several contractors and let them inspect your property. Discuss your basement finishing plans with them and get a price quote. You can then select the one that best meets your needs and budget. You will need to set aside approximately $15,000 for a modest job.

Basement Ceilings and Dry Walls

  • Basement ceilings are important as they help hide the ventilation and electrical works, making your basement visually appealing. Basement ceilings can also help muffle noise from the floor above, especially footsteps and people talking to each other.

Drywall ceilings cost about $2 per square foot. Acoustic ceilings that guarantee maximum soundproofing cost about $4 per square foot while drop ceilings cost $3.5 – 4.5 per square foot. Drywalls cost about 2000 $ and installation charges are about $15 per single panel. Drywalls are not only visually appealing, but they also help to maximize the insulation of your basement.

Basement Floorings

  • cost of finishing a basement

    Basement flooring needs to be waterproof and resistant to moisture. It needs to prevent ground seepage to travel all the way up. There are several basement flooring options available in the market, most will set you back by about $3000.

Epoxy floors are very popular these days, as they take only 3 days to set and can mimic a variety of other floor types such as a marble floor. They are long-lasting and waterproof.

Basement Bedrooms & Bathrooms

  • A basement bathroom will cost around $10,000 to 30,000 depending on your choice of plumbing and fixtures. The majority of the cost is attributed to plumbing and pipes as well as for installing motor pumps for carrying wastewater out. A basement bedroom is not going to cost you a lot of money as it consists only of furniture that you want to move in.

Waterproofing Your Basement

  • This is the most important aspect of your basement finishing project. If the basement has not been properly waterproofed, you will notice leaks in the walls as well as mold growing everywhere. Water can seep in through the walls, the floors, and the foundations.

Waterproofing your basement can cost you about $10,000 but it is definitely worth it. After fixing foundation issues, cracks, insulating pipes, and installing appliances such as a humidistat fan and a dehumidifier, you can begin your basement finishing project with peace of mind.

Are you looking forward to starting your basement finishing project? Call Crack-X at 877-727-2259. We are a civil structures repair company operating in Maine and New Hampshire. Our specialists will inspect your basement and provide reliable waterproofing services.

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