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Kitchens and bathrooms are typically the most expensive rooms to renovate. The high cost is due to several factors, including expensive appliances like ranges, hoods, and refrigerators, as well as costly fixtures. The 'bones' of the room, such as electrical and plumbing, are also expensive to move or replace. Because of the vast amount of prep work, finishing, and specialized labor involved in a relatively small footprint, these projects can cost double or more than a living space remodel. Even when trying to renovate on a budget, kitchens and bathrooms will likely carry a hefty price tag.

The average cost of remodeling a basement is $30 to $75 per square foot. If your space is unfinished and looks like it may need more help, use the higher number when calculating your estimated basement remodeling costs. A good rule of thumb is to add an additional 20% to the top of your estimate to cover any “what if” situations.

A finished basement does not always count as square footage, as this varies by state regulations. In areas that allow below-grade spaces to be included in a home's official square footage, the basement must typically meet certain conditions. These conditions often include having a functional egress and being a livable space with flooring, finished walls, and temperature control. To be certain, contact your local assessor to confirm your area's specific policies regarding basement square footage.

The time it takes to finish or remodel a basement can vary significantly, ranging from a few weeks to several months or even up to a year. On average, the construction phase can take four to eight weeks, but the total project time can extend to three or four months when including planning and permits. The timeline depends on several factors, including the basement's size, design complexity, the scope of the work, and your contractor's availability. A more detailed breakdown for an average-sized basement might include: framing (3-5 days), electrical and rough-in plumbing (3-5 days), drywall installation (5 days), flooring (2-3 days), and final touches like painting and trim (about a week). If preliminary work like installing a waterproofing system or addressing structural issues is needed, the timeline could extend to six to twelve months. Factors like difficult access, material transport, and ventilation needs can also add to the project's duration.