Having a finished basement adds to the resale value of your house and provides you with additional living space, but depending on how you go about your project, your basement finishing cost can be quite high.
Doing some research, buying your own materials and preparing for a diy project are some ways to lower the expense, but it takes forethought and organization to still boast a comfortable area despite the amateur job.
Find out how you can remodel your basement and what the cost to finish a basement generally is so you can plan ahead.
Using a Contractor
How much does it cost to finish a basement is a very general question and relies on many variables. If you are not handy or comfortable taking on the job, a contractor is essential, but research is necessary to not pay more than is necessary. To have a good estimate before you start calling around, measure the square footage of your basement.
On average, according to what I see homes for sale in Montrose basement finishing cost can vary between $29-32 per square foot for basic renovations to make your basement livable, but for elaborate remodeling, you could be looking at about $50 per square foot.
You also have to factor in the type of work you need done; if your contractor will simply do the wiring and dry walling or if you have additional issues like water leakage or placing in ceilings and floors.
Basement Finishing Cost
It is cost effective to get a professional to do the very technical, difficult work and then simply paint, put in basement flooring and furnish on your own. Make sure you call numerous contractors to get free quotes on the job you want done, but of course before you can discuss pricing, you should decide on a specific plan for the necessary work. If you are unprepared, a contractor can easily talk you into grand ideas that will increase the cost.
A diy project is certainly more cost effective, but if you are very unskilled or uncertain, you could run into costly problems that could also detain the end time by about 6 months. It is best to spend time learning the things you can do yourself and deciding what is best done by someone else.
Doing it this way can save you about 70% on the diy portion, since you will only pay for materials and not the labor. Deciding to install a suspended ceiling or floating floors can greatly save you money on supplies, are easy to install yourself and are flexible in what you can do with them. Painting the walls with a waterproof, mildew resistant paint before dry walling is also a good idea and can save you money on expensive wall treatments.
You can even save money on second hand furniture to further reduce the budget once you’re complete. Knowing the extent of your abilities to complete some portions yourself and budgeting for a professional to handle the tougher procedures is the best way to combine a cost effective project with quality work.
With careful planning and consideration, the basement finishing cost doesn’t have to be overwhelming.