Cost to Finish Basement: How To Stay Under a Budget

by Rebecca S.

The cost to finish basement will depend on two main elements essentially – one, how much money you will have to spend on the repair of the basement, and therefore the amount of damage your basement has suffered over the years will factor into your budget. Secondly, the cost will depend on what exactly you want to do with your basement – depending on what you want to transform the basement into, you will have to spend money accordingly on tiles, paint, fixtures etc. The basement is often left unadorned and sparsely decorated because it is not used as a room in the house. It is used to store items that are no longer of any use in the house but cannot be thrown away because they have a sentimental value attached to them. However, if you want to transform your basement into a working room that adds value to your home overall, then you will need to be a little harsh and let go of all the various items of the house that are absolutely useless and are just gathering dust and grime. Give them away, donate to charity, and hold a garage sale – whatever suits you. Once you have de-cluttered the basement, you can figure out what to do with it and accordingly fix the budget around the cost to finish basement.

Factors that go into cost to finish basement

When you are trying to figure out cost to finish basement, it might be a good idea to first make an assessment of how much repair work your basement entails. Being in the very foundation of the house, the basement is sure to have some amount of water damage from the water table – the damp spots and leaks are all hall marks of popular basement issues. Wiring, plumbing, pipes, cracks, shoddy paint etc. are all problems you will need to address. You cannot think about scrimping where repair work is concerned, especially if you are thinking about making a room out of the basement because you will want it to be absolutely perfect in terms of safety and livability. Once the repairs have been made, you will need to ensure that the basement is well ventilated as well. Basements generally have one window and this will not do if you want to make it into a room. Installing another window ( or two) putting in fixtures etc. making sure that the water pipes don’t leak and all that will take a fair bit of money. You cannot help that expenditure but you can certainly control what comes next and therefore manage the finished basement price.

How to manage cost to finish basement

The cost to finish basement can be curtailed once you have finished with the repair. The basement can double up as many things – as a nanny’s room, a guest bedroom, a play room for the kids in the house, a beautiful spa space for personal use, a steam and sauna room, a home room, a home theater, a room for band practice – and some people have even gone so far as to install a swimming pool in their basement. Depending on what you want to do with your basement, your costs will rise. For example, if it is a matter of turning the basement into a kids room, all you will need to do is to throw down a few comfy rugs, a few throw pillows, a large mattress and install a few shelves for the kids to keep their stuff on. However, if you want the basement to be transformed into a home theater or a room for music practice you might have to install Styrofoam or acoustic tiles on the walls or on the ceiling, and this would be a little hard on the pocket as compared to the former option. A cost to finish basement calculator might prove to be helpful.

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