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It is generally more affordable to finish a basement than an attic, though it ultimately depends on how you plan to use the space. The average cost to finish a basement ranges from $7 to $23 per square foot, while attic renovation costs $30 to $60 per square foot. However, a simple attic conversion to a storage space will cost significantly less.

Assuming you are going for a full remodel for an average-sized basement with a reputable contractor, the process can take up to two weeks or more. Remember that basements have many stairs and often difficult access—it’s not like working in the entryway. The shuttling of materials, increased need for ventilation and safety precautions, and making sure everything can be removed through a doorway all increase time and cost.

When choosing materials for finishing basement walls, consider factors such as moisture resistance, durability, and fire resistance. Opt for materials specifically designed for basement environments, like moisture-resistant drywall or cement board. Insulation with vapor barriers can help regulate temperature and prevent condensation. Consider using mold-resistant paints or coatings. 

Research and consult with experts to select materials that are suitable for your specific basement conditions and intended use. Prioritize quality and compatibility to achieve long-lasting and aesthetically pleasing results.

Yes, finishing a basement is worth the money in most cases. Although the project is a relatively expensive one, finishing a basement adds usable square footage to your home and typically increases your home value. Many times, your finished basement will add value that’s equal to or greater than the cost of finishing.