Get matched with top basement remodelers in Early, TX

A finished basement does not always count as square footage, though this varies by state regulations. You may live in an area that allows for below-grade spaces to be considered in a home's official square footage. In those cases, the basement must meet certain conditions, like having a functional egress and being a livable space with flooring, finished walls, and temperature control. Your local assessor can confirm your area's policies regarding basement square footage.

There are several small, inexpensive upgrades you can make to upgrade your basement. Although you still need to adhere to building codes and obtain permits when necessary, you can complete small but mighty tasks like painting the masonry walls and installing entertainment devices to make the space more usable. 

It’s less expensive to finish your basement than it is to build an addition to your home. The average cost to refinish a basement is $32,000 (between $7 and $23 per square foot) while building an addition to your home costs $50,325 ($80 to $210 per square foot). Depending on the size of your basement and other factors, like moving plumbing and electrical, refinishing a basement is a more cost-effective option in most cases.

When considering finishing your basement, take into account a few pros and cons:

Pros

• Can increase the value of your home

• Separate space from the rest of the house 

• Customize and personalize the basement to suit your needs and style

• Increase the amount of living space in your home

Cons

• May not regain enough value to cover the cost of finishing

• Lack of natural light if it’s below ground level

• Moisture or flooding can cause costly damage

• Installing plumbing and electrical can be messy and costly