How much does it cost to finish a basement? This is a question that many homeowners ask themselves when they are deciding how to spend their hard-earned money. If you want an answer, then you have come to the right place. We will give you an average of how much people pay on average in the United States for finishing basements and how certain factors can increase or decrease this amount.
What Is the Average Cost of Finishing a Basement?
The average cost of finishing a basement is $25 and $50 per square foot. This means that the typical basement finishing project will cost around $30,000. However, this being an average cost, you will likely fall somewhere higher or lower than a flat $30,000.
Factors That Raise or Lower the Cost of Basement Finishing
What is the cost of a basement finishing project depends on many different factors, most of which are within your control—but of few of which are not. Here at the factors to keep in mind.
- Where You Live: If you live in a high-cost-of-living area, you should anticipate paying more than the national average.
- The Finishings You Choose: Finishing a basement can include anything from hanging drywall to adding a spa, so how much you pay depends on the choices you make.
- The Size of Your Basement: Since you pay per square foot, a larger space means a higher cost.
- The Expertise of Your Contractor: More experienced contractors tend to charge more for their work.
- The Difficulty of the Project: The more difficult the work that needs to be done, the higher your cost will likely be.
- How You Divide the Space: The more walls and doors you need, the more you will pay.
- The Purpose of the Spaces: If you want a home theater, anticipate spending more than if you just want an open area for storage.
How to Save Money When Finishing Your Basement
If you are looking to save money on your basement finishing project, there are a few ways that you can do this.
- Scale down the scope of your project.
- Choosing more affordable finishes or shop sales.
- Go DIY on some aspects of your project.
- Look for more affordable providers.
- Start with basic finishing, then steadily complete your dream project.
If you are on a budget, you don’t need to give up your dream of having a finished basement. Allow RS Basements to help. We offer expert basement finishing in Cumming, GA & Alpharetta that doesn’t break the bank.
Not yet convinced that your project is worth the cost? Read: Is Finishing Your Basement Worth It?