A basement remodeling job is a great way to add a lot of additional space to your home. In most homes, the basement is the same total square footage as the first story, which means that you can potentially double your square footage.
A basement remodel is not an easy job. It involves a lot of materials and a good deal of time. You need to determine the time and materials necessary to complete the job in order to calculate how much it will cost.
There are a wide variety of materials which may play into the basement remodeling cost. Some of these materials may not be necessary. Much of what will determine the materials you need is what you plan on doing with the room. A simple family room or playroom will require far fewer materials than a separate apartment.
You will need to frame every wall required to form any room you plan to finish. If your basement has standard 8-foot ceilings, then you need to frame the walls using 8-foot studdings, bottom plates (sole), and top plates from 2x4 lumber. With all the studs spaced 16-inches apart, a 30-foot wall will require 23 studs plus one extra at the corner of a meeting wall. The cost of studs varying greatly according to lumber grade and availability at the time, your 30-Ft wall would cost between $175—250 dollars (including nails) just to frame.
Drywall comes in 4x8-foot sheets, which works well in most basements because it will reach the ceiling. Using the same 30-foot wall, if you put drywall on one side then it requires 8 sheets. If you put drywall on both sides, you need 15 sheets. It is not exactly doubled because you use half of a sheet on each side. The average cost of drywall is around $12 for ultra-light panel and over $20 for Mold Tough drywall panel per sheet, the later probably not a bad option when finishing a basement. This adds an extra $180 to $300 to cover both sides of your 30-foot wall, plus the cost of Drywall compound, tape, and paint.
If you will be installing a bathroom, bar, or sink, then you will need plumbing. Basements typically have plumbing, but you will still need to run it to the location. PVC pipes work well for this task.
Schedule 40 PVC comes in 10-foot poles. If you need 30-feet, you will need 3 PVC pipes, couplings, and a T-coupler. PVC piping costs around $.30/Ft, the straight couplings, and T coupler $1. If you need to go down the wall, then buy an L coupler, which costs $1. Running a cold and hot water line will cost you around $40 with the PVC cement.
Concrete works well for a basement, but it is not suitable for a usable room. To use the room, you will need to install flooring. Tile and laminate are relatively inexpensive options. They cost between $1 and $7 per square foot. Carpet is also a good idea. It costs between $1 and $12 per square foot.
To install electricity, you will need to add one or more new breakers to your panel to supply the basement. They will cost around $25 each and you will also need to run electrical wiring at about $40 for a 50-foot spool, and install electrical boxes, light fixtures, switches, and receptacles. Receptacles and switches cost $4 each and electrical boxes around $2.
6. Putting it All Together
To truly calculate the whole cost of remodeling your basement, take a lot of measurements to determine exactly how much of each material you need. You will also need to account for any tools you may need to rent or buy.
These prices are estimates with a wide range of material options and upgrades available. It is also assumed you will be doing the work yourself rather than hiring out. Be aware of the building codes in your area for guidance about everything from the type of approved lighting to the number of outlets that are required. For example, you may have to pay a professional electrician to install the wiring up to code. Expect to have a few hundred dollars in permit fees too. Of course, once the room is done, you will need furniture, equipment, appliances, and decor.