This is a tricky question – every home is different and every homeowner’s conception of “average” is different. However, we can comment on what is considered “average” for our company and the homes we work in. For us, an average basement will be about 1000 square feet, have a full bathroom, a bedroom, and a large living area. Typically, a full basement finish of these parameters will cost a client between $55,000 and $75,000.
Now just because that is our average range, doesn’t necessarily mean it applies to you. There are several factors that can make your basement cost more or less than that range.
These are a few examples of what can push you above that range:
- Needing to relocate plumbing for the bathroom
- Adding custom features such as a kitchen, theater room, wet bar, etc.
- Higher end finishes such as – hardwood or tile floors.
And on the flip side, these are some examples of what can put your basement below that range:
- Clients performing some of the work themselves
- Eliminating the bathroom
- Basement already being partially framed with mechanicals in place.
As we said before, every home and situation is different. If you’re curious to find out what your basement would cost you can reach out to our team to begin the estimate process HERE.
You may be wondering – If I invest in finishing my basement will it increase my home value and by how much?
Well, that answer also depends. Typically, clients get the most return on investment when they add a bedroom and a bathroom to the basement. The national average reports at 70% ROI when your local comps support it (according to NARI). That’s a great return and a great reason to finish your basement.