Basement finishing often consists of lighting, built-in shelves, waterproofing, framing, plumbing, wiring, drywall, flooring, an HVAC system, and egress windows, transforming unfinished basement space into useable living space.
When putting up a basement finishing estimate, the family room or living room (between 204 – 480 square feet) will be the most expensive, costing between $10,000 and $20,000. The bathroom (45 – 72 square feet) is located on the lower end. The closer you go to high-end materials, such as hardwood flooring, copper piping, or imported marble, the greater the cost. A 600-square-foot basement finish costs between $23,960 and $28,240 with average-quality materials.
Basement Finishing Cost per Square Foot
The typical cost to finish a basement is $32 to $47 per square foot or around $39 per square foot. A 500-square-foot open-plan basement will cost roughly $20,000 to finish, while a 1,500-square-foot basement with three rooms and a bathroom will cost around $57,000 to finish. Basement building prices might easily be treble or triple if high-end materials are used.
Basement Finishing Labor Cost
The typical labor cost to finish a basement is $16 per square foot or around 30% to 40% of the total cost of your renovation job. On average, the labor cost to complete a 500-square-foot basement is $8,000.00. This includes all types of professional labor, such as carpenters, plumbers, electricians, and general laborers. The more specialized assistance you require, such as a master carpenter or master electrician, the greater the expense.
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