Dig deep to add valuable square footage to your home
Before breaking ground, check that your state or climate is conducive to basements.
Basements are great for providing increased storage, space for entertainment, and increasing resale value.
The average cost to build a full 2,000-square-foot basement with no existing crawl space is around $110,000.
If you already have a crawl space, you can add a basement for about $45,000.
Alternative options include a home addition or converted attic.
If it feels like you’re outgrowing your current home–but you don’t want to move–you may wonder if you can add a basement to your house. While adding a basement adds usable square footage for entertaining, living or storage, there are a few things you should keep in mind before making the decision. Learn the benefits and drawbacks of adding a basement to an existing home–so you can decide if it’s the right move for you.
If adding a basement to your home is on your wishlist, then you’re likely suffering from a storage or space problem. Building up isn’t always an option, so why not see if there’s room to build below? This is especially true if you already have a crawl space underneath your home.
If your bedroom closets are overflowing with extra stuff, clothes, or holiday decorations, a new basement can give you a significant storage boost.
Basements also allow people to hang out downstairs and away from the kitchen while you’re prepping dinner. An added bonus: The concrete walls offer good soundproofing for your kiddos’ drum set and act as a perfect overflow room during large parties.
Because you’re creating additional square footage, you’re likely going to see an increase in the value of your home. However, you will need to waterproof your basement to ensure it retains that value. To keep things dry, the cost of waterproofing a basement can run an additional $20,000.
“Basements are often below the water table, so waterproofing is key,” says Bob Tschudi, Angi Expert Review Board member and general contractor in Raleigh, NC. “Keeping water out involves a combination of waterproofing and water-pumping. Fortunately, there are ways to keep your basement dry in many places.”
While basements bring plenty of benefits, they do come with some drawbacks. You need to consider flooding, the initial construction costs, and whether it’s even possible to build one in your home.
In states such as Florida and Georgia, you’re unlikely to find any basements at all. This is because both the climate and local aquifers make it impossible to build more than a few feet into the ground.
The soil in these areas is also prone to shifting, making the basement likely to collapse. These areas also tend to experience high amounts of rain, so you’ll need to look into tips to prevent basement flooding.
While adding a basement to an existing house does increase its value, it’s not likely going to recuperate the initial cost to add on. The average cost to build a full basement is around $110,000 for 2,000 square feet if there’s no existing crawl space. Adding a basement to an existing house with a crawl space, or even a partial basement, costs closer to $45,000 for 2,000 square feet. A local excavation company can give you an idea of how extensive your project will be.
This doesn’t include the cost of finishing the basement, which is typically around $20,000 for the inside and around $10,000 for waterproofing the outside. You’ll also want to add in flooring, have your HVAC system hooked up, and ensure the walls are complete. Some flooring options perfect for basements include vinyl, ceramic tile, and stone tile.
While the scary stories you were told as a kid about spooky monsters in the basement weren’t true, the basement is an ideal spot for pests. The high moisture combined with low lighting makes basements a prime candidate for all the creepy crawlies and critters if not sealed properly.
If you’re still undecided about whether you should add a basement, there are a few other options you can consider to accomplish your goal of additional space.
The cost to build on a home addition is around $140 per square foot. So if you only need around 200 square feet of extra space added on, you’re looking at spending around $28,000.
Maybe you consider the attic an unused space. If you can’t build down, why not look into building up? The average cost to convert and finish an attic into a bedroom is around $19,000, depending on the square footage.
An enclosed porch can give you additional square footage without having to dig out a basement. Building a new screened-in porch costs an average of $25 to $120 per square foot, making it a more affordable option with the added benefit of great views and fresh air that you won’t get in a basement.
Renovating an existing garage can add usable space to your home. Converting a garage costs between $6,000 and $27,000, and can be a great way to create additional space if you don’t use your garage for cars. If you want to keep using your garage to park your car, but want the added bonus of additional storage space, finishing a garage costs around $5,000.
If you’re looking to maximize the amount of space in your existing home and you don’t plan on leaving anytime soon, you might want to consider adding a basement. You’re going to get the most square footage possible, and you don’t need to deal with the stress of moving into a bigger home.
However, if you live in warmer regions, a basement may not even be an option for you. You also need to put a hefty amount toward getting a basement, so if you only need an extra bedroom, then adding another room or finishing the attic is a better option for you.
The difficulty of adding a basement to an existing house can vary depending on the house’s location, the size of the basement, and the type and condition of the existing foundation. Adding a basement is a job best handled by the pros, so you’ll need to enlist professional help for this project.
Building up by adding square footage to the top of your home is often less expensive than adding a basement, but it depends on the specifics of your house, your property, and supply costs. Because building a basement requires excavation, it can be a more expensive option than building up.
Lifting a house and adding a basement is one way to add usable square footage. Lifting or jacking a house is a complex process, and it can be expensive, not to mention that you won’t be able to live in your house while it’s lifted, due to safety concerns. Lifting a house should only be done by experienced professionals.
