The Average Price of Basement Remodels

Cheaper Options

• If you are handy about doing work yourself and simply want to add basic touches like panelled walls, carpeting and even a dropped ceiling, you can reduce your remodelling budget to about $5,000.

Considerations

• The cost of basement remodelling is closely linked to the original state of the basement itself. If it needs extensive work in adding insulation or dealing with moisture control before the building work even starts, it could make a significant difference in cost. If a basement is ready to finish, estimate between $20 to $25 per square foot to remodel; if a lot of preparation work needs to be done, make that estimate closer to $90 per square foot.

Preparation

• Think about how you plan to use the expanded living space in your basement before you start to create your budget. That will help to determine the extent of expertise you need to complete the project. For example, to build storage space, you may simply need carpentry skills, but more exhaustive remodels will also require plumbing and electricity skills.