Here is a snippet from the full article which posted on my basement finishing website. You can check out these links to read more:
1. How do you finish a basement
2. What does it cost to finish a basement
Top 5 â€œcost of a basementâ€ factors:
- Finished square feet of your basement -Â Â I use 1,000 square feet as a good estimate butÂ measure your basementÂ to be more exact.Â This affects almost every cost related to basement finishing from framing to drywall. Itâ€™s probably the biggest factor in determining the cost of a basement.
- Labor costsÂ â€“ New York, New York can be double the price of Nashville, TN.Â Of course, if youâ€™re like me, youâ€™ll do most of the work yourself and then labor cost doesnâ€™t matter.
- BathroomÂ - Â Full or Half?Â Tile or laminate? Â Super awesome shower with 10 jets of body-spray or tiny $10 shower head. Add about 5k to your basement cost for a regular full bathroom.
- Escape Hatch? -Â Yes or No? What I mean is, do you require an egress window? Â Is there a way out of your basement without using the steps? If not youâ€™ll have to build one and that means expensive backhoes digging up your backyard and tearing down part of your basement wall.
- FlooringÂ â€“ engineered wood, carpet, or simulated wood laminate? Flooring options can add a thousand dollars or more depending on what you get. Â But, if you need to go cheaper, I stained my concrete floor for about $280. I plan to add carpet eventually but for now the kids love riding their bikes down in the basement.
Cost of a basement by phase of construction
Here is a breakdown ofÂ cost by phase for my basement. Keep in mind I was my own labor, general contractor, etc. Â This does not include books, permits or basement power tools. Â You can see all of the details including my exact budget in the â€œbasement cost estimatorâ€ which you can get by subscribing to the newsletter.Â
|Video and Audio (Wiring only)||300||2.1%|
|Trim and Doors||2,000||14.1%|
How to save on the cost of a basement
- You do the painting -Â I know.Â Painting is slow and boring. But pool tables aren't, theyâ€™re awesome.Â And if you did your own painting youâ€™d save enough to buy a pool table.
- Do you own trim-work. Â A little further up on the â€œhandyâ€ scale, I realize this. But you only need aÂ mitre saw, aÂ nail gunÂ and 3 or 4 weekends. When youâ€™re finished you can use those tools to build yourself a great little basement bar with the money you saved.
- Be your own general contractorÂ and you can save big on the cost of a basement. You donâ€™t have to do everything, just coordinate all the trades, design and scheduling. You might be able to save 8-10k on average.
- Buy reconditioned Tools Â â€“ Â Used power tools are 30-50% less expensive and in my experience work as well as new tools. I only buy reconditioned tools.
- â€œFollow the big dogâ€Â Say What? One of my best tips for saving money on the cost of a basement and itâ€™s free to anyone who signs up for the newsletter.
Sorry, the final tip I save for my newsletter subscribers but email me if you want it, I'm happy to share it privately even if you don't signup Â :-)
Like I said I have a bunch of other articles plus some of the top questions about basement people typically have at my basement finishing website:Â
1.Â How do you finish a basement2.Â What does it cost to finish a basementI will definately blog some more here on the Trulia site if people are interested and read it. Â Ping me if you have a quesiton - I'm not a professional contractor but I'm really good at Google and I have finished my own basement - fully inspected, looks great!Â