Convert Unused Lower Levels Into Livable Space | Cost Guide

Many new homes are built with an unfinished basement. This saves money up front in construction costs and gives a family the opportunity to grow into their home.

A lot of people choose to finish their basement in order to add living space for entertaining guests or as a hangout area.

No matter what the reason, finishing a basement can come with a considerable price tag.

However, it's generally a good investment as a basement remodel fetches 80% to 90% of its investment cost at resale.

How Much Does Basement Remodeling & Finishing Cost? #

The average cost to remodel or finish a basement is $15,000 to $35,000, depending on the size, layout and types of rooms added. Most homeowners spend $23,000 to add basic living spaces like a family room, bedroom and bathroom.

Basement Remodel Cost Factors

• Size of basement
• Finishes like flooring & lighting
• If full bath/wetbar is added
• Level of customization

Partial Finish Costs

• Paint, lights & flooring only: $3,000 - $8,000
• Single open living space: $10,000 - $15,000

Full Remodel Costs

• 2+ rooms with bathroom: $23,000 - $35,000
• High-end media/entertaining space: $50,000+

Demo & Framing

• Gut walls, remove debris: $2,000 - $4,500
• Build out non-load-bearing walls: $5,000 - $12,000

HVAC

• Improve ventilation: $800 - $1,500
• Install ductwork, vents: $3,500 - $6,000

Plumbing

• Install bathroom/wetbar sink: $900 - $2,000
• Rough-in shower/toilet drains: $1,200 - $2,500

Electrical & Lighting

• Can lights, outlets & wiring: $2,500 - $4,000
• Home theater pre-wiring: $1,200 - $1,800

Flooring

• Laminate floors installed: $1,200 - $3,500
• Porcelain tile floors: $3,500 - $7,500

Finishes & Paint

• Drywall, mudding & taping: $2,500 - $7,500
• Paint all walls & ceilings: $800 - $1,700

Total costs range $15k to $35k+ for most finished basements adding family rooms, bedrooms and bathrooms. Luxury media rooms or entertainer spaces run $50k+.

Real-World Basement Remodeling Costs #

Here are some real-world quotes from homeowners on how much they paid to remodel their basements:

• "We gutted our basement to the concrete walls and installed 2 bedrooms, 1 full bath, new electrical and plumbing. The total remodel cost was $32,100." - James T., Ohio

• "I had just one large family room finished very basically - with carpet, drywall, lights and paint. Spent $15,300 total." - Anne B., Texas

• "We splurged and turned our basement into a luxury entertaining area with a theater, wet bar and wine cellar. Spent $62,900 altogether." - Kevin R., Pennsylvania

• "I had 2 bedrooms with tall ceilings framed out from scratch, installed laminate floors, added a full bathroom, lighting and painted all the walls. Paid $29,500 total." - Olivia S., Maryland

• "Did a simple refresh of our outdated basement - installed luxury vinyl plank flooring, added recessed lighting, painting and refreshed bathroom. $9,800 total." - Noah P., Arizona

• "Had leaks that had to be fixed before finishing, but now have an inviting family room and play area space. Cost $23,600 altogether." - Emma C., Nevada

As you see, a full remodel with multiple finished rooms typically runs $25,000 to $35,000. But costs can vary from $10k for basic refreshes to $60k+ luxury designs.

Do I Need a Permit for a Basement Remodel? #

Yes, in most cases a permit will be required for any significant structural, electrical, or plumbing work done when finishing a basement. Relevant permits include:

• Building permit - Needed for any framing, structural changes
• Electrical permit - Required when adding lighting, outlets, wiring
• Plumbing permit - Needed if installing bathroom, wetbar, laundry

Permit Triggers

Common basement work needing permits:

• Adding walls and bedrooms
• Running new drain lines
• Upgrading electrical panel or circuits

Cost of Permits

• Building: $800 - $1,500
• Electrical: $100 - $300
• Plumbing: $150 - $500

Check with your local building department on permit needs for any basement remodeling.

Work without proper permits can pose safety risks and prevent being able to sell the home.

Resources:

• Why You Need a Permit to Finish a Basement
• How Much Does Finishing a Basement Cost? (2023)

Use Our Free Service & Find Basement Remodel Pros Near You #