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It costs an average of $32,000 to finish a basement, and most projects total between $15,000 and $75,000. If you just want to make the space look a bit nicer and don’t need to convert the basement to legal living space, you could spend as little as $3,000 to install drywall and flooring. On the other end of the spectrum, your costs could rise to $100,000 if you want to make structural changes to the space, repair existing structural damage, waterproof your basement, or install a kitchen and bathroom along with living space.

Some older homes have toilets in the basement to combat sewage backups. This type of toilet, also known as a Pittsburgh potty, acted as a safety valve over the incoming sewer line. If a line backed up, it would back up into the toilet because it was the lowest fixture in the home, keeping it out of sight and away from the finished areas of the house.

Basement toilets were also used by workers with messy jobs, like those who worked in coal mines or steel mills. This way, they could clean up and avoid tracking dirt through their home.

Common mistakes when finishing basement walls include neglecting proper insulation, insufficient moisture management, and poor ventilation. Not addressing these issues can lead to mold growth, water damage, and discomfort. Additionally, inadequate planning, improper framing, and rushing the project can result in subpar outcomes. 

It's essential to follow best practices, seek professional guidance if needed, and prioritize thoroughness and attention to detail.

The cost of finishing a basement is about $18,400 on average. As you can see, the framing portion of this project costs less, because you’re essentially just dealing with laying the foundation for a finished basement. The finishing portion of the project involves a lot more intricate work and design, as well as high-end materials.