A basement renovation which is done correctly can result in a stunning space that can serve as an extra room or any other function you can imagine. However, before undertaking this project it is critically important to factor in the costs, which will vary depending on a wide range of factors.
What Factors Influence Cost
If the basement has leaks which need to be fixed, or a foundation which is sinking, this can greatly increase the costs of renovation. The price will also depend on the geographical area you live in, as well as the soil and type of repairs that are required. If additional square footage which is livable is added to the basement as a result of the renovation, it will significantly increase the value of your home, while the opposite is true if any problems develop.
Is Your Basement Unfinished Or A Remodel?
Are you starting from a basement which is unfinished, or do you plan to complete a basement which already exists with professional assistance? The answer to this question will largely determine what you will pay. Beginning from scratch won’t require demo, which will lower your costs. However, framing will be required to define the spaces or rooms, and system upgrade will be required for expansions of your electrical, HVAC or plumbing systems. You’ll spend the most on finishing and flooring, and when factoring in the material for the ceiling, carpets and drywalls the costs and will rise.
Remodeling a finished basement is considerably more expensive. You will need demo, and system upgrades will be necessary for electrical and HVAC. If you have hardwood floors that need to be upgraded the costs can easily shoot up. The total average national price for remodeling existing basements is about $18,859.
The Square Footage Is Also Important
The size or square footage of the basement is another factor will determine your overall costs. Even if you decide to do the project yourself to save money (which is not recommended unless you have professional experience), you will still need to contact a plumber and electrician. In addition to the square footage, finishing touches such as ceiling or flooring will influence the costs to varying degrees. Any basement project involving electrical systems or plumbing will require a permit in most jurisdictions, which won’t cost a lot, but is something that will need to be factored in.
Inspect The Foundation
When remodeling your basement it is highly recommended to inspect your foundation. If you notice that the piping has become rusted, the problem could be humidity. Waterproofing the basement is essential and installing a dehumidifier will allow you to keep dampness to a minimum. Older homes in many cases will have a foundation which sags as a result of ground shifting or decay in the materials used in the original construction. It is possible to correct foundation beams, but it requires specialized tools such as the pneumatic jack. Even then, fixing the foundation could take days, and may require a team.