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How Much Does a Basement Renovation Cost In 2021?

The basement is one of those spaces that many homeowners have been ignoring. With the right kind of rehabilitation, you could transform it into an additional space for a bedroom, gym, office, etc. This could be the best time to think about using Overall Renovation.

At the end of it, the space should complement the lifestyle you and your family have and at the right budget. Basement remodeling converts or adds more living space to your house without having to buy another property.

image - How Much Does a Basement Renovation Cost In 2021
How Much Does a Basement Renovation Cost In 2021

The cost of remodeling a basement varies based on several factors, including your budget.

Costs of Basement Renovation

There are different ways of remodeling a basement which includes partial, conversion, and full renovation. Note that remodeling and finishing may look familiar, but they are completely different.

Renovation means that you are remodeling an already built space. By remodeling, you give purpose to that extra space.

The cost of remodeling a basement is anywhere between $5,000 and $70,000. Many homeowners have seemingly been paying around $7,000 for basement remodeling. Below is a list of the average cost of remodeling a basement.

  • National Average Rate $18,500
  • Usual Cost Range $5,100 – $7,150
  • Low-End Rate $5,000
  • High-End Rate $70,000

The cost of renovating a basement is based on whether you need structural changes, adding upgrades, and the square footage. Upgrades include such things as electrical, flooring, or plumbing works.

Estimating basement renovation costs on a square footage basis can be complicated because of the variation of each job.

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Partial Basement Renovation Cost

There are many ways partial basement renovations can be done. You might only need to renovate a small area of the basement or upgrade some of the areas. This includes upgrading the basement floor to a hardwood floor or just repainting walls.

Partial renovations are usually small and may not be considered for remodeling because of the low costs.

Though not invasive, partial remodeling can still leave an impact on your basement’s final look and functionality. Partial remodeling can cost between $10,000 and $30,000.

Basement Conversion Renovation Cost

A basement conversion is done in many ways. Conversion means taking a previously renovated basement space and giving it a new purpose. Essentially this is changing a space from one function to the other.

The work can either be invasive or simple, depending on how the space previously appeared and what use it was for. Basement conversion costs range between $10,000 and $100,000.

Full Basement Renovation costs

Renovation costs for the whole basement can range between $27,000 and $81,000. This type of remodeling involves every part of the basement. This includes the floors, walls, ceiling, plumbing, lighting, among others.

A full renovation leaves the basement having more than one room for selective purposes. You may decide to have a living room with an entertainment center, a storage area, or a full bar.

Cost Factors for Basement Remodeling

Basement Bathroom Addition: Are you thinking of adding a bathroom to your basement, or is there one already? The cost of installing a completely new bathroom will be much higher than upgrading the current one. Averagely, rates range between $2,500 and $5,000.

Framing the Basement

If your basement space is open without any separations, you will need to frame it to define every room. Framing a 1,000 sqft basement costs about $1,000, but the prices can change based on your basement design.

Electrical Wiring and Lighting

Installing lighting and electrical channels can cost between $1,000 and $1,500 on average. Switches and other fixtures cost between $90-$250 for every square foot.

Costs of Plumbing

Plumbing in the basement needs special attention to make sure that it is well connected to the sewer line. The sewer line may fail to be deep enough to let the bathroom use gravity like others above ground. Installing a toilet will cost up to $2,500 for a non-gravity toilet.

Cost of Flooring

Basement flooring requires special attention because of its position, which is below ground. Another layer may be added that acts as a barrier for moisture.

Construction Permit Fees

You may require a building permit from your local authorities for your renovation project. The contractors mostly handle this fee; however, it adds to the financial bill.

Before doing renovations to your basement, always have it planned out for maximum benefits. This includes making sure the needs of your family rhyme with the kind of renovations that you want to be done.

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