Basement Finishing CostsPosted on: June 15, 2014
Posted by: Sebring Home Improvement
How much does it cost to finish a basement?
Use this guide to find out, then decide which route is best for your home and budget. There are basically three ways to finish a basement and they all come with a cost.
If you choose a basic, do-it-yourself makeover, including adding moisture control, framing in walls and adding decor and furnishings, your cost will run between $15,000 and $35,000. Waterproofing sealants and additional insulation are just a few of the considerations that will be factored into the final finished basement cost. The price will, of course, also be affected by how much renovating is being done.
If your renovation is extensive, requiring plumbing or electrical work (such as building a bathroom or installing HVAC), we recommend hiring a contractor. Expect this type of basement to cost more at least $45,000. A basement finishing system is another option, running $40,000 to $60,000. These out-of-the-box systems include everything from moisture-proof, insulated wall panels to ceilings to lighting. However, you will need to hire a professional for the installation.
Contractor or doing it yourself?
When you plan to finish your basement yourself, there is a significant amount of time investment, commitment and work. After all, you will need to go to work every day, and then work on your basement in on your time off or spare time. You most likely will be tempted to cut corners to save time, and the result could be a very unprofessional job. In addition, doing it yourself could possibly lower the value of your home. If you ever plan to sell your home and a potential buyer sees that you did a below average job in finishing your basement, then they could factor in the cost of having to tear out your work to put in a professional project. Mistakes could prove very costly as well. A professional contractor will work while you are working and minimize mistakes. You will have a professional job that is of good quality, and you will enjoy your finished basement and extra space much quicker.
Contractor or someone who does it on the side?
Having family or friends who know how to finish basements can be very tempting, but think of the potential problems. First, there is a liability issue. Will your family or friend guarantee their work? And will any problems with the build affect your relationship? Some things are not worth risking. A professional contractor will guarantee their work, and you will not have any personal issues in having to call them to fix a problem, if there are any. In addition, having someone who does it on the side also opens you up to costly repairs down the line.
Contractor or not doing it at all?
Consider the worth of that extra space. Finishing your basement will add value to your home. Not only value, but having a finished basement will also add living space that you will enjoy for years to come.
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