Remodeling your basement can transform it from an outdated space into something warm, comfortable, and inviting. Although some parts of this task such as insulation and painting are DIY-able, you should hire professionals for plumbing or electrical work that requires skilled laborers. Labor costs could run between $50-$100 an hour; to stay on budget consider shopping sales or using recycled materials whenever possible. Don't forget the cost of obtaining a building permit - which typically starts around $450!
The most popular basement renovation involves adding a bathroom. This increases both your property value and allows you to utilize all available square footage efficiently. Many homeowners also choose to add an additional bedroom; if this is part of your plans for selling in the future, however, make sure it meets all safety regulations; additionally, remember that any additional livable space won't be taxed at the same rate as above-ground space.
Other additions can include closets, walls, doors and windows. Framing a basement typically costs an average of $1,795 without factoring in drywall and insulation costs. Foam board or fiberglass batt insulation options such as foam board are recommended as cost-effective solutions that provide ample insulation; alternatively high-end options like spray foam can offer better performance and durability than their cheaper alternatives; an egress window may further add to this total. Furthermore, existing foundation damage must be addressed prior to beginning a project; any hazardous materials like asbestos removal typically costs $2100 to remove.
