The cost of finishing a basement is not cheap. The most common costs include drywall and paint. Then there are the materials needed to complete the project. A drywall ceiling costs $1-$6 per square foot. If you intend to use the finished area for sleeping and entertaining, a fire exit is required. A basement finisher might need to excavate land or reframe an exterior wall depending on the space.
The cost to finish a basement depends on the size of its finished area. In some cases, costs can exceed the original price. You will need professionals to complete a variety of tasks. If you are looking to add features to your basement's design, the cost to hire a professional might rise. You'll also need to pay for the materials used for the project, which will raise the cost of the job.
Installing flooring is like any other home improvement job. The cost of installing flooring can vary from $1,500 up to $4,500. While luxurious hardwood can run up to $15 per foot, laminate flooring and carpeting are typically between $2 and $5 per square. You can save money by purchasing second-hand furniture from Craigslist and Nextdoor, OfferUp, Facebook Marketplace and Facebook Marketplace.
The quality of the materials and how many are used will affect the price of a kitchen, bathroom, or bedroom in your basement. You should estimate around $3,000 for a simple bathroom renovation. A basement with a bedroom and a bathroom will cost around $50,000. However, if you are adding a bedroom, you may need an egress window and additional windows. If you plan to install a greenhouse, expect to spend another thousand to two thousand dollars. A basement finished can increase the value and function of a house.
The cost of hiring a basement contractor is the most expensive part of the project. The hourly rate for a general contractor is anywhere from $25 to $100. The amount of work required and the size of your basement will affect the price. Some contractors charge by hour, while some charge by day. The project's complexity will affect the general contractor's fees as well as insurance costs. The best contractors will be familiar with local building codes and will make the necessary upgrades if necessary.
The amount of customization that you desire will affect the cost of framing a basement. Framing a basement with top-end finishes will cost you anywhere from $2800 up to $33,985. This includes the installation ductwork and insulation. It is possible to spend a lot on a ductless minisplit system to heat and cool, but it's not necessary. Radiant heat is an alternative. A home theater system will cost only a fraction compared to a finished basement.
FAQ
How do I choose a good contractor?
Ask family and friends for referrals when looking for a contractor. Online reviews are also a good option. It is important to confirm that the contractor that you choose has worked in the same area as you. Request references and make sure to verify them.
What order should renovations of the home be performed?
You must decide where everything will go when you renovate your home. If you intend to sell your home in the near future, you need to think about how you will present it to potential buyers. The design of your kitchen and living room should be considered. Once you have chosen the rooms you want to remodel, you can start looking for contractors who can help you. You can then begin your renovations once you have hired an expert contractor.
What should I think about when buying a house?
Make sure you have enough cash saved to pay closing costs before buying a new house. If you don't have enough cash on hand, then you might want to think about refinancing your mortgage.
Can I renovate my whole house myself?
If you are able to do it yourself, why not pay someone else?
It doesn't really matter how much you love DIY. There will always be times when you just can't do it. You might not be able control many of the variables.
For example, if you live in an old home, you might find that the wiring is outdated and you would need to hire a qualified electrician to make sure that your electrical system is safe and reliable.
Also, you should consider that some structural damage may not be possible during renovations.
Additionally, you may not have the right tools to complete the job. For example, if your goal is to install a new sink in your kitchen, you will need to purchase a plumber’s snake, which is designed to clear blocked pipes.
There are also plumbing codes that require you to have a licensed plumber working on your project.
Let's just say that you must know what you can do before you undertake such a daunting task.
If you aren't sure if you have the skills or knowledge to tackle the task, get help from your family and friends.
They can offer advice about what to do and where to go for more information.
Statistics
- A final payment of, say, 5% to 10% will be due when the space is livable and usable (your contract probably will say "substantial completion"). (kiplinger.com)
- Rather, allot 10% to 15% for a contingency fund to pay for unexpected construction issues. (kiplinger.com)
- Most lenders will lend you up to 75% or 80% of the appraised value of your home, but some will go higher. (kiplinger.com)
- Design-builders may ask for a down payment of up to 25% or 33% of the job cost, says the NARI. (kiplinger.com)
- ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.' (realhomes.com)
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How To
Do you prefer to renovate the interior or exterior?
Which one should I do first?
There are many factors to consider when deciding which project to start with. The most common factor when choosing a project is whether it is old or newly built. There are many factors to consider if the building is older, such as its roof, condition, windows, doors and flooring. When the building is new, there are many things to consider such as its location, size, number, style, and so forth.
The roof should be the first thing you look at if the building's age is a concern. You should start the renovation if you feel the roof is at risk of falling apart. You can proceed to the next step if the roof is in good condition. Next, take a look at the windows. The windows should be inspected for damage or dirt before you do anything else. Next, check the doors for debris and clean them up. You can now begin to install the flooring if everything looks fine. Make sure that the flooring is solid and sturdy so that no matter how hard you walk on it, nothing breaks. After you have completed these steps, you can move on the walls. Take a look at the walls to see if any cracks or damage are present. If the wall looks good, you can proceed to the next stage. The ceiling can be finished after the walls have been examined. It is important to inspect the ceiling and ensure it is strong enough for any weight you may place on it. Once everything is in order, you can proceed with your renovation.
If the building was built recently, then you would probably want to start with the exterior. Take a look at the outside of your house. Is it well maintained? Is there any cracks? Does it look great? You should fix any exterior problems. You don't want your home to look poor. Next, make sure to check the foundation. Repairing the foundation is a good idea if it appears weak. You should also inspect the driveway. It should be smooth and flat. If it isn’t then it is time to repair it. Also check the sidewalk when you are checking the driveway. If the sidewalk is uneven, it should be replaced.
Once you have completed these inspections, you can now move on inside the house. Look at the kitchen first. Is it clean and well kept? If it is messy, then you should probably clean it up. Next, make sure to inspect the appliances. You should make sure that they are in working order and in good condition. If they're not, you can either replace them or repair them. Check the cabinets after this. If they are stained or scratched, then you should probably paint them. You can then move on to the bathroom if they are in good condition. You should inspect the toilet here. If it leaks then it's time to replace it. If the surface is just dirty, it should be washed. Next, check out all the fixtures. Make sure that they are clean. If they are filthy, clean them immediately. The countertops should be inspected as well. They should be repainted if they are chipped or cracked. Use a sealant if they're shiny and smooth.
The last step is to check the furniture. Verify that the furniture is not damaged or missing. If something is missing or damaged, then you should likely find it. If it is damaged, you should probably fix it. After everything has been checked, you can go outside to finish the job.