Get matched with top basement remodelers in Savage, MN

Finishing a basement can provide a great return on investment, by increasing the market price of your home when you want to sell. Beyond that, there are many reasons to finish your basement. Doing so expands the usable square footage of your home, so you can enjoy it more, even as your family grows. Renovating your basement costs less in terms of time, energy, and money than having to search for and buy a new home.

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.

Building a bar in the basement will likely add value to your home, although it’s unlikely that you’ll see a significant return on investment (ROI) unless you plan on using the space for you and your guests. If you think you’ll use the area frequently, though, it’s probably worth the investment, and you should see a bump in value if or when you sell your property.

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.