So... your thinking your basement could add a lot of valuable living space to your home? You're right. If you have a basement, you can increase the square footage of living space in your home by 30-50%. But most people haven't the slightest clue what a project like this would cost.
Remodeling projects will vary greatly in price based on size, finishes, quality of material and workmanship. So it is very difficult to figure out what your project might cost without talking to someone and getting a quote. But there are some generalities to make sure you're thinking in realistic terms when it comes to budgeting for a basement project.
Home builders often use a square foot price of $100 per sq.ft. when talking about new construction. Most contractors don't bid basement jobs in terms of square foot price, but for the sake of understanding costs, that is what we will be talking about. A simple basement; floor-walls-ceiling-electrical, no bath or bar, might run in the range of $30-$40 per sq.ft. When you start to add in cabinets, granite countertops, plumbing fixtures, pricier floors, and architectural details like archways, molding and ceiling treatments, that average can quickly go up to $50-$70 per square foot.
In order to help get a realistic frame of mind, finishing 1000 sq.ft of your basement will probably cost $30,000- $60,000. Again , there are a wide range of factors in determining the cost. Call a professional contractor to quote your families needs.
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