When it comes to basement renovation, the national average price for a finished basement ranges between $5,000-$70,000. That said, unless you're adding in an elaborate home theater or building in separate rooms with high-end finishes, most Thumbtack customers report paying, on average, between $5,100-$7,150 for their remodeled basement. A finished basement provides you additional living space, increases your home’s value, and offers great return on investment when it comes to home improvement projects.
In choosing the best décor for the basement, try to create some sense of continuity with the rest of the house. Start by creating an open stairwell leading from the rest of the house. It makes the basement feel open, lighter and connected to your home. Next, make sure that anyone descending the stairwell isn’t jarred by the contrast in décor with the space above. As much as you need to create defining styles for different sections of the basement, ensure there is a flow from the décor above to the one below. Otherwise, your basement is going to feel like some far off disconnected place and not part of your home.
When it comes to basement remodels, the most costly way is to start with bare bones. If all you have is concrete walls and floors, you need to add framing, electrical, plumbing, flooring and trim. Basement finishing in a newer home that already has plumbing and electrical roughed in, a watertight foundation and some insulation installed—but no final finishes (like drywall or paint or carpet)—usually costs less than remodeling an already finished basement. This is because when you already have a finished basement, the pros will need to do demolition at the beginning of the project, which can add $500–$1,500 to overall costs.
Homeowners wishing to enclose basement appliances should take note of air-supply requirements for both the furnace and water heater, which are powered by electricity or natural gas, oil or propane. Fuel-burning appliances use room air for combustion and require an unrestricted air supply. Any enclosure requires installation of a louvered door between living areas and the furnace room to ensure an adequate air supply and ventilation in your basement. Without sufficient air, a house may fill with dangerous gases, including carbon monoxide or radon.
Basement remodeling adds value to your home, increases your useable living space, can protect your foundation from moisture damage, and looks great. Many people remodel a basement to create space for an aging parent or to make room for more children. Another reason for basement remodeling is to create a rentable space that is separate from the rest of your home for a long-term renter or for short-term renting.
A focal point wall is a great way to build architectural interest in the basement by installing brick tiles for durable and easy-to-maintain walls. This multi- purpose room and entertainment area, features a pool table, game table and home bar transforming a boring basement into the family room where everyone can relax, unwind and enjoy. Many finished basement ideas incorporate a home bar, game area and dining table to provide plenty of opportunities for entertainment and fun.