How Much Does Basement Remodeling Cost?

It won’t come as any surprise that one of the first questions we get asked from homeowners is, “how much will my basement remodel cost?”. The answer is far more complicated than a price per square foot. This is because, at FBC, we create completely customized basement designs based on a number of factors.

Depending on the size of your basement, whether it’s currently finished or unfinished, and what you’re looking to do with the space, the cost can vary significantly. That’s why it’s important to talk to your designer about your budget sooner than later  — they’ll help you come up with a design you love built around your price point. A basement remodel, in particular, differs from scope of work in a basement finish because you have current walls, rooms, and features in place that you may want to rebuild. As opposed to starting “from scratch” in an unfinished basement, you must account for the construction needed to change your current layout into your dream space.

The best way to find our cost-saving areas is by assessing the top six factors that most affect the price of your project and how you can save within each. Here is FBC’s pricing guide for basement remodeling to help you get a better idea:

Six Factors that Drive Basement Remodel Cost

Are you happy with the current layout of your basement, or are you looking to completely reconfigure the space? In some cases, you may need your remodel partner to move plumbing or structural elements to get the fit and function you want. The more reconfiguring you need, the more the cost is affected. Learn more about costs for these areas: Colorado, Illinois, and Minnesota.

Is your basement currently finished or unfinished? If you need to finish your basement and add other specialty rooms and features, expect some extra cost. Some other factors that can drive project pricing include water intrusion, age of home, radon, and fixing uneven concrete. If you’re more focused on making your basement look more updated, aesthetic, or modern, try to work within your existing framework and reduce the instances where you’ll need to tear down walls or have major construction. This will help keep your cost down.

Basement Features

When considering what can fit within your desired budget, be sure to separate your “must-haves” from your “nice to haves”. Cost is vastly affected by any custom features you’ll be adding to your basement. For instance, many of our clients love to install a custom bar to turn a standard basement into an entertainment space for friends. Features like cabinets, wet bars, backsplashes, and new appliances will similarly drive your overall price. You’ll also want to consider budgeting for stone, mantels, a gas line, and power when assessing your budget.

Specialty Rooms

If you want it in your home, we can do it! Unique rooms such as home gyms, offices, crafting areas, wine cellars, and home theaters will be custom-designed to you and your vision. The price depends on the level of customization needed, including materials, equipment, plumbing, quality of finishes, and electrical needs.

Bathrooms

An additional bathroom in the basement creates convenience and a sense of completion to your basement. It’s worth noting that bathrooms require water and electricity, so if you don’t currently have plumbing or electricity in your basement, the cost will be affected. You should also take into consideration whether or not you’re looking to move your current plumbing set-up to another area of the basement. Working within existing bathroom areas will help save cost, as opposed to having to scrap and rebuild your bath in another area where plumbing is not currently built-in.

Electrical and Appliances

An often-overlooked element of cost is the hidden mechanical updates required to power new appliances. This includes kegerators, kitchenette features, pizza ovens, and more. Make sure to mention what appliances you plan on having in your space when working with your designer and budget. Also, when choosing your appliances, consider what is functional against the price — appliances are available in very wide ranges of quality and cost, and there are many budget-friendly options that work well!

Egress Windows & Code Compliance

In all basements, having two points of egress is a code requirement. Egress windows are operable windows in your basement that provide an easy exit in case of an emergency. They also provide ventilation and natural light, adding a more comfortable feel to your basement. If your home doesn’t already have these, getting them built is a requirement that will drive the price. If you do already have two points of egress, you won’t have to worry about this cost!

Basement Remodel Cost Ranges with FBC

As mentioned before, FBC Remodel does not offer ballpark or exact project costs by a “price per square foot”. This is because we custom-build every design from scratch, and the above factors will affect each individual project differently depending on each scope.

With that being said, we do have general price range averages for basement remodeling:

• Low-end: $55k
• Mid-range: $85k – $100k
• High-end: $200k+

You can check out our pricing page to learn more about our project ranges for basement and other remodeling projects, but the best way to get a proper range for your project is to book a free design consultation with one of our designers!

Don’t Choose Your Basement Design on Dollars Alone

Before choosing a remodeling partner, we recommend asking each potential company or contractor what exactly you get with the price they’ve quoted you. A lot of elements go into completing a remodel that goes beyond the design itself and the labor to build it.

Some important questions to ask:

• Does the price include all materials? Will you be coordinating and ordering those materials on my behalf?
• Do all costs include permitting and insuring my project is up to code?
• How do you handle unforeseen costs when construction begins? Do you guarantee that my project will stay at the amount you quoted me?
• How will you manage the construction of my project? Do I need to directly manage the tradesmen in my home or will you do that on my behalf?
• How do you treat our home while part of it is a construction site? Walk me through how you’ll keep my space and home as clean as possible.
• If there is an issue with the finished space post-construction, is there a warranty period to help resolve it?
• How will you ensure my project timeline will stay on track?

With FBC, we have your back with all of the above! Learn more about our proven design-build process here.

Cost of a Basement Remodel with FBC

Pricing out your basement remodel can seem overwhelming, but that’s where FBC Remodel can help! Throughout our process, we design around your budget the best we can — keeping you in the loop should pricing change. We also promise to keep you in the loop of what may raise the price of your project.

Ready to get started? Give us a call today to chat with our design coordinator about your basement remodel project. From there, we’ll match you with an award-winning designer that works with your budget to come up with a design you’ll love.