How Much Does It Cost to Finish a Basement?
Being one of the leading basement finishers in central Massachusetts, one of the most common questions we get asked is how much this project costs. This usually depends on these key factors:
- Materials
- Basement size
- Basement type
- Labor
- Permits
Average Cost to Finish a Basement
Searching Google for an average basement cost can be tricky because you can always find what you want to hear on the internet. With labor costs and material costs in Massachusetts rising, so do renovation projects.
After collaborating with our sales and quoting personnel here at ZB, we came up with some rough numbers that may help give you an idea. Our basements range from around $80-120 per square foot. Some other things that will make the price fluctuate are if you are adding a bathroom, moving walls, adding a kitchenette, if there is electrical & plumbing, and high-end finishes.
Basement type
Another factor that could affect the price of this project is the existing home structure.
There are 3 different types of basements:
- Partial Basement: the square footage will be smaller than the square footage of the house’s main floor plan
- Full Basement: square footage of this basement is the same size as the home's main floor plan
- Walkout Basement: The front of the basement is underground and the back is evident with a door to the backyard
The cost per square foot stays the same for all of these basement types. On the other hand, square footage changes so depending on the basement type the cost may change. Full basements are the most common type of basements in Massachusetts.
Basement Customizations
Basement customizations are another factor that could impact the overall price.
Some customization options are:
- Bar
- Home movie theater
- Bathroom (half or full)
- Kitchenette
- Multiple rooms that are separated
More rooms call for more materials like walls and electrical on each side. A bathroom calls for walls, electrical, plumbing, and bathroom materials. All of these options are unique and cool ideas but will drive costs up a bit.
Renovation Labor
As previously stated above, labor costs are rising so the cost of projects goes up as well. Usually, basement finishes call for a few different subcontractors to come in for carpentry, electrical, plumbing, etc.
Permits
There are some permits that the basement will need throughout the project. These permit costs vary depending on the town and what exactly is done.
It is always best to work with a company that pulls permits because then you know that the work will be up to code and will be inspected. This will help make sure there are no mishaps that will affect you down the road.
Conclusion
With all of these factors considered it is a great idea to finish your basement to increase home value. You can expect somewhere around a 70% return on your investment.
If you're in the greater Lancaster, Hudson, Clinton, Berlin, Holden, Bolton, Stow, West Boylston & Shrewsbury, MA areas,
give us a call today to go over what you have in mind!
