Basement dig out vs. a new addition. If you live in an area where property taxes are high, or your lot will violate zoning code by adding an addition, a basement dig out will make sense. Say you have a 2 story 2000 sf home and you need 1000 sf of extra living space. An addition will cost more than a basement dig out.
Average Cost to Finish a Basement: The Basics. The average cost to finish a basement is generally between $25 and $50 per square foot, but costs can go as high as $90 per square foot depending on how extensive the renovations are and the materials and labor you choose. For most basements, the average cost works out to around $30,000.
Here's what Zillow Advice users had to say: "Depends on what you add to the basement. You may get twice as much value back by adding a bedroom, bathroom, family room. Utilize the finished space to add benefits to your home." -real estate broker Mick Nazerali, November 01 2011 "That's hard to quantify.
Installing a bathroom in your basement will add $10,000 to $15,000 on average to your basement remodeling costs. RELATED: How Much Does it Cost to Finish a Basement? Some basements already include a floor drain, and if you have piping for a utility sink or washing machine hookup, you have a head start.
Upstairs there are 4 bedrooms (one of which is pretty small), a master bath and a hall bath. There's also a 1/2 bath on the main floor. There is a large, nicely finished basement that is kind of divided into 2 sections, although there's just a large doorway but no door between them.
Finishing a basement to create an extra bedroom typically costs about half as much as building a home addition. A basement-to-bedroom conversion won't steal any space from your yard, either. Total Basement Finishing can help you employ this cost-effective solution to add space and value to your home. To get started on a basement bedroom, schedule a free estimate with one of our dealers!