In the United States, on average, finishing a basement will give you a return of 70 to 75% of your investment. For example, if you spent $1,000 on improvements, it would increase the value of the property by about $700. If you spent $10,000 on improvements, it would increase the value of the property by about $7,000.
What adds the most value when finishing a basement?
The appraised value of finished basement space is generally 50% to 60% of the value of the main level square footage. To maximize the cost/value ratio, the market experts recommend keeping the basement budget below 10% of the existing home’s value. Staying between 5-10% is a good plan.
What should be done first when remodeling a basement?
- Step 1: Clean Out Your Basement.
- Step 2: Complete a Moisture Test in the Basement.
- Step 3: Research Local Building Permits and Building Codes for Basements.
- Step 4: Gather Materials and Tools.
What is the cheapest way to remodel a basement?
- Start With One Area Of The Basement.
- Confirm There Aren’t Any Moisture Issues In The Basement.
- Basement Flooring On A Budget.
- Painting The Basement Yourself.
- Find Unique Items To Decorate The Basement At Bargain Stores.
- Choosing Your Ceiling On A Budget.
How much does it cost to finish a 1500 sq ft basement?
Finishing a basement typically costs between $7 and $23 per square foot with an average of $25 per square foot. Most homeowners can expect to pay from $2,800 to $33,985, or $18,395 on average, for a 400 to 1,500 square foot space. The price includes labor, materials and any permits you need.
Does adding a bathroom in the basement add value?
Adding a basement bathroom can increase your home’s resale value by 10%-20%. It also can turn a wasted space into an enjoyable addition to your home. The average basement bathroom will cost $3,000-$25,000, depending on the existing plumbing and condition of your basement.
What kind of flooring is good for a basement?
The best type of flooring for basements is vinyl. Vinyl flooring can come in the form of vinyl plank and vinyl tile, giving it the ability to look nearly identical to hardwood and stone products with the added benefit of being waterproof. Vinyl flooring is made of PVC making it durable and waterproof.
Should I insulate basement walls?
Walls. Basement walls should be insulated with non-water sensitive insulation that prevents interior air from contacting cold basement surfaces—the concrete structural elements and the rim joist framing.
What to Know Before finishing a basement?
- Check the Foundation. Before starting any construction in your basement, assess the state of the foundation.
- Identify Code Violations.
- Eliminate Water Issues.
- Insulate Properly.
- Assess the Ceiling.
- Work Around the Essentials in Your Design.
What type of drywall is best for basements?
Due to the often damp conditions of the basement, be sure to choose sheetrock that is at least moisture-resistant (often call greenboard) but be on the lookout for products that are specifically resistant to mold and mildew (some kinds of purple board).
What can I use for basement walls instead of drywall?
- Wood Planks. Wood planks are an age-old drywall alternative that has certainly stood the test of time well.
- Veneer Plaster.
- Lath & Plaster.
- Plywood and Sheet Wood.
- Texture Wall Panels.
- Brick & Masonry.
- Exposed Concrete Block.
- Cement Board.
How can I cover my basement walls cheaply?
Fortunately, you can cover basement foundation walls quickly and inexpensively. Attach wood furring strips, Z-shape channels, or 2×4 studs to flat, dry masonry walls, then add insulation and cover the strips or studs with drywall.
Why you should not finish a basement?
Finished basements can end up with mold and other moisture related problems behind the finished walls. Be sure you understand the details of waterproofing and proper ventilation. Ventilation and Dehumidification – Merely installing a dehumidifier can actually create problems by drawing water through foundation walls.
Should you finish basement ceiling?
A typical basement ceiling is an unsightly maze of plumbing pipes, wires, ductwork, and structural bracing. But take heart: Hiding all those systems with a finish material will give your basement instant credibility as usable living space.
Does a finished basement count as square footage?
Does a basement count toward overall square footage? As a general rule of thumb, listing agents and appraisers don’t count a finished basement toward the overall square footage, especially if the basement is completely below grade—a term that means below ground level.
Where do I start when finishing a basement?
- Apply for a Permit. Getting a permit is essential to the job.
- Take Care of Dampness. You never want to install drywall in your basement before checking for water or high humidity.
- Pick Your Materials. Drywall or plaster?
- Gather Your Tools.
- Install Insulation.
- Frame the Walls.
- Install Utilities.
- Mount Drywall.
How much does it cost to drywall a basement ceiling?
Drywall: It costs around $1.50 per square foot to hang drywall in your basement. Ceiling: Basic ceiling installation can cost as little as $1-2 per square foot. But, if the project is complex, it can cost around $6 per square foot.
How much should I charge to frame a basement?
It costs an average of $1,200 to frame a basement, with a typical range of between $500 and $1,600. It can cost as little as $250 to frame a small basement and as much as $4,000 for a large one. There are three types of basements: masonry wall, poured concrete, and precast panel.
How do you put a toilet in a basement without breaking concrete?
You can tie a bathroom tub or shower into an upflush toilet system, which eliminates the need to break into the concrete floor. The system sends the wastewater from the shower drain and toilet to a holding tank before being pumped to the main sewer line.
How much does it cost to install a full bathroom in a basement?
Adding a bathroom in a basement costs $8,000 to $15,000 on average. You’ll save $500 to $1,000 if you have a rough-in drain already in place – typical in newer homes and usually near the main drain line.
What increases house value the most?
- Clean and declutter.
- Add usable square footage.
- Make your home more energy-efficient.
- Spruce it up with fresh paint.
- Work on your curb appeal.
- Upgrade your exterior doors.
- Give your kitchen an updated look.
- Stage your home.
What is best for basement flooring over concrete?
In some instances, we recommend underlayment for vinyl flooring on concrete. Not only will your floors be smoother and more even, but they’ll also have better insulation, sound absorption, and cushioning. Sometimes, LVT is manufactured with built-in underlayment, and some is designed to be installed without any.
What flooring is best over concrete?
- Engineered Wood. Natural hardwood flooring offers undeniable beauty and durability.
- Vinyl. As a longstanding choice for kitchens and bathrooms, vinyl has a reputation for extreme water resistance.
- Laminate.
- Carpet.
- Tile.
Should basement flooring match the rest of the house?
Also, your basement and main floor do not need to be perfectly matched. It is possible to achieve different designs from floor to floor to produce more overall variety. However, it is important that your flooring either fits, matches, or compliments your desired home or floor look.
Should my basement ceiling be insulated?
Yes. Faced insulation is actually recommended on basement ceilings and ceilings in general. The covering or “face” of the insulation prevents it from falling out and trickling down into the basement air. This is especially advantageous if the insulation is made of fiberglass, which can harmful if it’s ingested.