Finishing or remodeling your basement includes a lot of elements that can drive the cost of your project. FBC creates completely custom designs with every client, so there isn’t one “price per square foot” that works for all homeowners. Instead, it’s important to understand what elements can drive your cost.
Oftentimes, our clients may not be aware of “hidden” ways to save money or to make your basement more luxurious. Make sure to be up-front with your designer about the budget you’re working with, so they can craft a design you’ll love that won’t break the bank.
Pricing for Basement Finishing
As mentioned before, every basement design is going to have a range of costs depending on a number of factors — square footage of your basement, what you want in your remodel, and the finishes you choose — to name a few. With FBC, we provide a general range for basement finish projects to help clients get an idea of what’s typically invested.
- Bottom range: $55,000
- Middle range: $85,000 – $100,000
- High range: $200,000+
You can see more project ranges on our pricing price here. For FBC in particular, we don’t provide a “per square foot” cost. Project price is driven by the features and customizations you choose for your basement. Because of this, the best way to know your particular basement’s price range is to book a design consultation.
Scoping Out The Work You Need
Looking for a remodeling partner is your first step to planning your basement finish. First, it’s important to understand what you need out of your partner. Second, it’s important to understand your scope of work because that scope will directly impact the budget you’re working with.
- Do you already have your designs on-hand? A general contractor may be best to carry out the construction piece. If you already have your blueprint ready to go, you’ll cut down on the cost for design services.
- Are you looking to DIY part of the project? You can consider a nearly finished basement to get your layout and walls up. In the future, you can paint, install features, and put in flooring on your own time.
- Do you need a partner to design and build your project from start to end? A design-build firm like FBC would be your best bet. Design-build firms streamline the remodel from design to construction, making the process easier on the homeowner.
Lastly, search for remodel partners in your area that have a great portfolio of projects and glowing reviews online. From there, compile a list of your top five candidates, and book design consultations with them.
6 Ways to Control Your Basement Cost
It goes without saying that basement finishing is a sizable investment, so let’s dive deeper into what can drive the cost of your project.
Here are six features of your basement finish that can drastically affect basement price:
1. Layout and Age of Basement
With unfinished basements, it’s important to tell your designer how you would like to configure the space. Sometimes, it may be necessary to move plumbing and other structural elements to fit the function you want. The age of your home can also impact cost based on anything that may need fixing. This can include water intrusion, uneven concrete, digging down to achieve a certain ceiling height, and more.
2. Your Desired Basement Features
Your overall cost will depend on what special features you’d like to see in your basement. Many of our clients opt for custom bars, wine cellars, and kitchenettes which increases the price. For instance, if you’d like to install a fireplace, you’d have to account for the cost of stone, a mantel, a gas line, and power when budgeting.
Ask yourself — how do you want your space to fit and function? What feature(s) can benefit you and your family the most? What aspects do you feel would “grow” with your household? Prioritize those details first, and consider saving your “nice to have’s” for later on.
3. Specialty Rooms
If your basement is unfinished, your space is likely completely open. Adding walls for extra bedrooms and bathrooms will affect your project price. Speciality rooms, in particular, will drive the price. Specialty rooms are spaces that are built specifically for an activity or function in mind.
Some examples of specialty rooms include home gyms, theaters, and wine cellars. All of the custom AV work and additional remodeling needed will certainly drive the overall cost.
Specialty rooms may significantly impact your budget, but having that unique space to gather the family and bring your hobbies home is priceless! Take a moment to think about what specialty room brings you the most joy. What favorite activities would you like to bring home to your basement? Is family movie night huge in your household? Do you like to entertain guests? Always plan around your lifestyle.
If you plan to have anyone living in your basement, it may make sense to add a bathroom for convenience and ease of access. Bathrooms require both electricity and plumbing, adding more cost to your basement.
Note the current extent of your plumbing set-up, if any, when planning your remodel. Ask your designer how much a bathroom install would cost in particular, and decide from there if it’s worth including in your basement.
5. Electrical and Appliances
Appliances, such as kegerators, pizza ovens, and microwaves — are sure to impress your guests and create a sense of convenience in your basement space. Knowing how these appliances will affect your cost is key when planning your basement finish. Consider saving any new appliances that you can set up on your own for later, or work with your designer to prioritize the most important appliance to install.
An often-overlooked cost driver is the hidden mechanical updates that may be needed to power larger appliances. Be sure to ask your designer about any potential hidden costs — we are here to help!
6. Egress Windows
Egress windows are operable window wells that provide a safe exit in the case of an emergency. Egress windows also provide much-needed natural light and ventilation in a basement, making it feel less dark and more comfortable.
Two points of egress is a code requirement in all basements — if your basement doesn’t have two egress windows, they will have to be built.
On-Time and On-Budget Basement Finishing with FBC Remodel
At FBC, our award-winning designers work with you and your budget to create a basement design to last a lifetime. At your FBC design consultation, your designer will provide a general ballpark of what your project may cost. From there, we work transparently with you to get your dream design as close to your budget as possible.
Ready to get started? Contact our Design Coordinator, Jenny, to chat about your upcoming basement project!