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Save money on your basement finishing project by making cost-effective decisions such as minimizing structural changes and avoiding costly construction revisions. DIY simpler tasks such as painting or basic cleanup to reduce labor costs. You can also opt for energy-efficient fixtures and materials that may qualify for rebates or tax incentives.

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.

Finishing an unfinished basement adds the most value, with an average return of 70% or $22,400. A bathroom addition in the basement will provide an ROI of 75%, but the higher cost will leave you with a lower actual return of $9,000, on average. Finishing a basement and adding a kitchen, bathroom, and bedroom to rent the space will leave you with the highest possible ROI, as you could see well over 100% if you rent the space out long-term.

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.