Carrying out a basement remodel is an excellent way of adding usable space to the home. Some common things done include rebuilding the walls, installing new floors and windows and adding fresh furniture. The remodeling process may also involve installing a new bathroom, renovating the ceiling, and doing electrical work.
In most cases, basement remodeling is a significant investment that comes with valuable returns. In addition to the added usability of the home, remodeling also increases resale value.
Here are several factors that will influence your basement remodeling cost.
If installing a bathroom or sink in your basement, you will need to have them connected to your main water supply. This requires the work of a plumber, who may charge between $50-$70 per hour.
If you’re adding a new floor and remodeling the walls, this can cost about $3000 for the new floor and $800 for hanging drywall. The type of floor you select will also influence the cost.
Depending on where you live, you may need permits for different parts of the project. Permit costs range between $100-$3000.
If adding drywall to the ceiling, it may cost $1.50 per square foot, or about $15 for a standard 8’ by 4’ drywall panel.
Working with a general contractor is the best option for your basement remodel. The contractor will handle subcontracting to other personnel such as plumbers, floor installers, and electricians. Carefully select a general contractor who understands your needs and goals for the basement. The contractor will also influence your basement remodeling cost and provide opportunities for saving.