Learn more about the components of a finished basement that affect the final cost.
Adam Albright
Finishing a basement involves converting it from a storage area to a functional living space.
The project often includesinstalling walls,new flooring, lighting, plumbing, fixtures, and entertainment features.
Credit:Adam Albright
Components of a Finished Basement
The term finished basement can mean a lot of things.
However, municipal building codes will likely define it precisely.
Such regulations are often detailed, depending on your state and city laws.
Essentially, finishing a basement is a full-scale construction project and an interior design job rolled into one.
Here are some important factors to consider.
Basement Size
The square footage is often used to justify the cost of the total finishing project.
However, the cost per square foot varies greatly by the materials used to complete the job.
The size affects the cost of flooring, as well as the amount of furnishings in the space.
Basement throw in
The three types of basements are unfinished, partially finished, and finished.
Unfinished basements rarely have insulation, drywall, or non-concrete flooring.
Get quotes from different contractors before you decide who to work with.
Building windows to let in natural light (or adding exterior doors) is expensive.
Location
Your location will affect the project cost based on local labor and materials.
However, location dictates the variety of materials and contractors available.
Greater competition can lower overall costs.
Materials
Prices vary based on quality, quantity, and availability.
Expensive or imported materials increase a projects overall cost.
For example, laminate and carpet flooring can cost between $3-$15 per square foot.
Costs range from budget-friendly, builder-grade products to custom luxury-finish selections.
Its definitely OK to mix types to both save and splurge in your basement, Hampton says.
Permits and Inspections
Building permits are usually required for any construction project that changes the building structure.
In some states, building permits for basement finishing projects are billed as a flat fee.
In others, they are a percentage (usually 1 to 2 percent) of the project cost.
Most contractors include these fees in their final quote.
Scope of Work
Finishing a basement can be as simple as putting in drywall and flooring.
The simpler the job, the less expensive the total costs.
However, if you plan to turn it into alegal accessory dwelling unit, costs can soar.
An open floor plan reduces framing, drywall, and insulation costs.
If your needs grow, add appliances and modular furniture rather than hard walls.
Many of our clients think ahead to the future when it comes to designing their basements.
Think of separate entrances, mini kitchens, and evenlaundry amenities such as a washer and dryer.
These compliance measures ensure you get value for the cost.
