I'm looking to finish a 1000 square-foot basement to code. It already has an egress window, a bathroom rough-in, and some lighting installed. I want to create a large recreation room with a bathroom using basic finishes. Since I don't have experience with DIY projects, I'm planning to hire a contractor for the work. What kind of costs should I expect for this renovation?
3 Answers
Consider that things like adding extra electrical outlets and lighting fixtures can add to the costs significantly. If your electrical panel is near the work area, it won’t be too bad, but if it’s not, that could drive the price up. Also, make sure to think about the plumbing if you need to make adjustments there. A bare-bones finish might start around $25K, but it could certainly go up, especially in higher cost of living areas.
Based on my own experience, you might be looking at anywhere from $20,000 to $100,000 for a project like this. It seems pretty broad, but it greatly depends on how much work is needed and the contractors in your area.
I recently finished a basement of a similar size and it ended up costing me about $15K. I handled some of the demolition and framing myself but paid for the electrician and drywall work. If you're thinking about hiring all of that out, I’d estimate somewhere around $25K-$30K if you're doing most of the labor yourself, but hiring out could easily bump it to $50K or more depending on the contractor.