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Whether it’s more affordable to gut a house than build a new one depends on the markets where you'd be buying and selling. However, it’s usually less expensive to renovate a home than to build new construction.
Most homeowners pay between $100,000 and $200,000 for demolition and remodeling costs, whereas the average cost to build a new home is between $139,000 and $531,300.
Yes, most general contractors require an initial down payment. A reasonable deposit is typically between 10% and 25% of the total project cost, although this can vary by project size and location. This upfront payment helps the contractor cover initial costs like materials, permits, licensing, and hiring subcontractors. The remaining balance is usually billed according to a schedule outlined in your contract, often tied to project milestones or completion dates. Be cautious of contractors who ask for a large deposit of 50% or more, as this could be a red flag for a scam.
If you don’t have a crawl space but have a partial basement you want to make deeper, you can expect to spend a little less—between $40,000 and $90,000 on average. However, if you’re not adding new finished square footage, you won’t see much in the way of ROI.
For most basement remodels, you’ll want to hire a general contractor. This is for a number of reasons, but the main two are that general contractors have dedicated teams they are comfortable with, and hiring one means you only have to deal with one pro. You may also get a better project quote since they can lump all their work and subcontracting into a single quote.
Yes, you can add a bathroom to an unfinished basement, but you’ll want to take proper precautions if doing so. As with any bathroom addition, you’ll need to make sure that it’s approved by local building authorities first. With unfinished basements, you especially need to keep an eye on proper ventilation practices.
The Houck, AZ homeowners’ guide to basement remodels
From average costs to expert advice, get all the answers you need to get your job done.
Hiring a bad basement remodeler can wreak havoc on the look and longevity of your unfinished space. Here are red flags to look for as you vet basement contractors.
