For many, the basement goes mostly unused and acts only as a storage space for extra belongings. However, you can convert it into a room that is more suitable for living by finishing it. Before you start, though, you should consider how much it will cost to do so. Here is a breakdown of basement finishing costs that you can use as a guide.
When speaking of finishing a basement, the cost is usually broken down by square feet to bring standardization to the pricing when dealing with basements of all shapes and sizes. Within each square foot, you add up the cost of the individual materials that that section will include. So, to illustrate, someone may say that one square foot of basement space takes $20 to finish. Within this $20 exists the price of putting in flooring, ceiling, drywall, and framing. You then multiply this one-square-foot amount by how many square feet there are in your basement. At the same time, people also use total estimates on how much it will cost for the entire basement taken as a whole. Naturally, the larger the basement, the higher the cost.
If you’re looking for a catch-all average for finishing costs per square foot, however, you’ll be hard-pressed to find any consistency. Various sources quote different prices, with some putting the average range lower and some higher. To gain a reasonably accurate estimate of how much it will cost to finish your basement, you should talk with your neighbors and perhaps look online for what is reasonable in your area. No matter where you live, basement dimensions are important to factor in.
As your basement finishing costs consist of more than one form of labor, your preferences also greatly affect how much you will have to spend. On top of the basics listed above (floor, ceiling, drywall, framing), you’ll also need to think about whether you want a bathroom, kitchen, more lighting, paint, and windows added to your basement. These will require different specialized professionals, which will in turn contribute to the overall cost of the project. The larger your bathroom, the more plumbing costs you will collect. The more lights you have installed, the more you will need to pay an electrician.
Within each category, you will also have a choice between different styles and materials. If you have a limited budget, it may be smarter to choose more affordable options when it comes to external fixtures like the structures of lights or cabinets in a kitchen area. However, there are also components you shouldn’t skimp on. Flooring and drywall should be made of strong, moisture-resistant materials so that you don’t run into serious problems later. You should also have your basement waterproofed with effective methods such as epoxy injection and sump pump installation before you finish the basement so that water does not get inside through cracks in the concrete and ruin the materials you have just added on.
For reliable basement waterproofing in the Chicago area, call The Real Seal. We’ll make sure your basement can handle the surrounding moisture from the outside so that it will stay free of problems once you finish it.