How to Compute the Cost of Finishing a Basement

by Rebecca S.

Wondering what the cost of finishing a basement will be like? Well the first thing that has to be done is to make a careful analysis of the various pros and cons of remodeling your basement. You will have to make an estimate of how much damage it has suffered over the years and how much repair it will entail. The basement, being in the very foundation of the house, tends to suffer a lot of water damage, thanks to the water table. Therefore, damp spots, damp patches on the wall, peeling paint, fungus and cracks on the walls are common problems that all basement face. If the basement is to be transformed into another room for the house then it has to be repaired so that there are no damp spots or cracks or leaks. The electricity in the basement also has to be well secured to ensure there is no hazard and the  plumbing has to be very well taken care of so that pipes don’t spring a leak. The best part about a basement that is made into another room is that the space that is there – which is usually considerable, is used in a proper fashion. Do not let the cost of finishing a basement deter you from making the basement into an optimized space.

Factors in the cost of finishing a basement

The cost of finishing a basement will involve many factors, including repair work and what exactly you want to do with the basement. Decide first, what you want the basement to be and depending on that the cost will rise or fall. For example, if you want the basement to be transformed into a simple play area for kids, all you really need to do is install a few shelves and shift the contents of the boxes onto them, and clean up the area well. Then add a carpet, a bean bag and a television to the mix, install lights and carve out a window so that there is enough natural ventilation. This will not cost you as much as say, transforming the basement to make it your own personal home theater. For that you will have to add special effects like speakers and perhaps a power recliner, Styrofoam or acoustic wall panels to make it soundproof, plush chairs, lush carpeting and such like. It is a good idea to get a basement finishing cost estimate and then figure out how much you are willing to spend and on what.

How to estimate cost of finishing a basement

When you want to estimate the cost of finishing a basement it is a good idea to first get an idea of what the repairs will cost. That is usually a major chunk of the cost. Once that is out of the way you can ensure that your other costs can be contained because then it is up to you what you want to spend on. For example, say you have a basement floor that has been damaged by water – you will have made the necessary repairs and you will not be able to scrimp on anything. However, once the basic repair has been done and the damage has been contained you can choose whether you want to spend a bomb on the kind of flooring you want to lay out or whether you want a basic but simple style. This will determine your overall cost. Then if you wish to have fancy tiles or textured paint, the cost will go up. Depending on what your budget is, you can buy whatever decoration items you need. Consider typical basement finishing costs when you start remodeling.

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