The cost of finishing a basement ranges from $10,000-$80,000. There are many variables that affect the cost to finish a basement: the size of the basement, if homeowners do the work themselves or hire a contractor, the quality of building materials used and how many upgrades are done. Overall basement finishing cost is about 50% less when homeowners do the work themselves instead of hiring a contractor to do it. The cost of finishing a basement is considerably cheaper with a newer home than an older home, as older homes need more waterproofing and upgrades. The cost to finish a basement includes things like framing, insulation, wiring, sheetrock, carpeting, interior doors, paint, ceiling tiles, trim, moulding, vapor barriers and hardware like screws and nails. If a bathroom is being added, supplies like a toilet, shower, floor tiles, vanity and plumbing supplies will also need to be purchased. If a contractor is hired to do the job, then the cost of labor makes up a large portion of the overall basement finishing cost.
Average Cost To Finish A Basement
The average cost of basement finishing is $27 per square foot when a contractor does all the work. The average cost is around $13 per square foot when the homeowner does all the work. The average cost of basement finishing is around $20 per square foot when the homeowner does some of the work and a contractor does everything the homeowner cannot do.
The average cost of basement finishing for a home with an 1800 square foot basement is around $48,000 when a contractor does all the work. The average cost is around $23,000 when the home owner does all the work, and the average cost is around $36,000 when both the home owner and a contractor do the work.
The average cost of basement finishing for a smaller home with a 1000 square foot basement is around $27,000 when a contractor does all the work. The average cost is around $13,000 if the home owner does all the work and around $20,000 if both the home owner and contractor do the work.
For a large home with a 3000 square foot basement, the average cost of basement finishing is around $81,000 when a contractor does the work, around $39,000 when the homeowner does the work, and around $60,000 when both the homeowner and contractor do the work.
Basement Finishing Cost Per Sq. Ft.
The cost to finish a basement is $13-$55 per square foot; however, the average homeowner spends about $27 per square foot on the cost of finishing a basement. The square foot cost to finish a basement is less when homeowners do the work themselves compared to when a contractor is hired to do it. The average cost of finishing a basement is $13 when the homeowner does all the work. Homeowners that do half the work drop their average square foot basement finishing cost to around $20.
The cost of finishing a basement is increased from $5-$20 per square foot when the basement requires serious upgrades or the home owner wants high price building supplies to be used or wants to include high end amenities. The cost to finish a basement is decreased by around $3-$5 a square foot when the home is newer and does not need numerous upgrades and when the basement finishing is kept very basic and simple.
Total Basement Finishing Cost
The total basement finishing cost varies greatly per home. However, the average homeowner spends around $50,000 total when a contractor is used. Homeowners with smaller basements will spend around $25,000-$30,000 when a contractor is used, while homeowners with large homes will spend around $80,000 on the total basement finishing cost for their home when a contractor is used
Home owners who do the work themselves will save almost 50% on the total basement finishing cost, while home owners who do around half of the work and have a contractor do half of the work will save about 25% on the total cost.
Basement Finishing System Cost
Basement finishing systems use different building supplies than traditional basement finishing does. These systems are made from material that is designed to stand up to the moisture levels in basements. Basement finishing system materials do not become moldy the way traditional drywall can. All the materials used in a basement finishing systems are pre-designed and usually pre-cut. These systems are expensive compared to traditional basement finishing. Average basement finishing system cost is around $40 per square foot with installation, while the average cost of hiring a traditional contractor to finish a basement is $27 per square foot. An 1800 square foot basement costs around $72,000 when using a basement finishing system, while an 1800 square foot basement costs around $48,000 when using a traditional basement finishing company.
The large majority of basement finishing costs do not include flooring, so homeowners will have to get it done separately. Flooring is usually included in the cost to finish a basement with a traditional contractor.
Pink Panther Basement Finishing System Cost
The Pink Panther basement finishing system is also known as the Owens Cornering basement finishing system. The Pink Panther finishing system is one of the most popular basement finishing systems in North America. Pink Panther finishing system cost ranges from $35-$45 per square foot. The cost of finishing a basement with the Pink Panther basement finishing system includes installation, ceiling and walls, but it does not include flooring. The Pink Panther basement finishing system is higher in cost than most other basement finishing systems. The Pink Panther basement finishing system is also more expensive than hiring a traditional basement finishing company.
Basement Finishing Companies
When a contractor is used to finish a basement, about 50% of the total basement finishing cost is for labor. However, due to the time, hard work and skills needed to finish a basement, the majority of homeowners prefer to hire a contractor to finish their basement for them. Basement finishing companies vary greatly in price; companies in the same city can vary by thousands of dollars in their cost to finish a basement. Homeowners should contact at least three different basement finishing companies to help ensure they are getting a good rate. Homeowners should ask each company they contact for 2-3 references and an estimate for the total cost of basement finishing. The cheapest basement finishing company is not always the best deal; home owners should look for a company that has good reference, uses high quality building supplies, and can do the job for a reasonable price in a reasonable length of time. Most basement finishing companies can finish a basement in 1-2 weeks; many companies will offer a discount on the basement finishing cost if the job is not done in the agreed time.
DIY Basement Finishing
Do it yourself basement finishing is not only cheaper than hiring a contractor to do the job, it is also more satisfying. Homeowners can save themselves 50% or more on the cost to finish a basement by doing the job themselves. However, do it yourself basement finishing is time consuming, requires hard work and does require some skill. Most basement finishing companies can finish a basement in 1-2 weeks, while many homeowners who choose do it yourself basement finishing take several weeks or even months to complete the job. Homeowners that do not have all the required skills to do the entire basement finishing job themselves, can do some of the job and then hire a basement finishing company to do the rest. Homeowners who do half the job of basement finishing themselves will save around 25% on their overall basement finishing cost. Homeowners without experience are best to hire a professional plumber and electrician instead of doing the job themselves.
Basement Finishing Ideas
Finishing a basement can be exciting. A basement can be made into a large family room, children’s playroom or games room, or divided into several rooms to give the home an extra bedroom, bathroom, home office, exercise room, library, or storage.
As basements tend to have lower roofs than the main floor or upper levels of a house, ducts and pipes can be relocated to along beams and walls so they are out of the way. Most people have carpeting laid in their basement, but instead of carpeting, homeowners could consider laying tiles; tiles are more durable and require less maintenance than carpeting. By setting tiles in a diagonal pattern, homeowners can give the basement the appearance of being wider. A finished basement increases the overall value of a home by 65%-110%, making the cost of basement finishing well worth the price.