How Much Does a Basement Remodel Cost? [2024 Data]
Normal range: $12,019 - $34,512
A basement remodel costs around $22,769 on average. Depending on size, labor, and materials, the cost ranges from $12,019 to $34,512.
If you have already invested in a finished basement, it may be time to consider upgrading with a remodel. Basement remodel costs range anywhere from $3,250 on the low end} to $56,000 on the high end, though most homeowners spend an average of $22,769. Basement remodeling is a popular home improvement project that offers a significant return on investment (ROI). This project can provide anything from extra living space or a new guest suite with a bathroom to a home gym and entertainment area.
- Average
- $22,769
- Low end
- $3,250
- high end
- $56,000
Basement Remodel Cost by Size
Unsurprisingly, a larger basement will be more expensive to remodel. An average basement remodel can cost anywhere from $30 to $75 per square foot. However, higher-end remodels with luxury features can creep over $120 per square foot.
| Basement Size | Average Square Footage | Average Cost |
|---|---|---|
| Small basement | 300–700 | $6,500–$16,200 |
| Medium basement | 700–1,500 | $17,000–$24,000 |
| Large basement | 1,500–2,000 | $21,000–$34,000 |
| Oversized basement | 2,000–4,000 | $30,000–$75,000 |
Cost to Remodel a Basement by Project Type
If your basement is already finished, the sky is really the limit in terms of remodeling possibilities. Depending on your needs and budget, this often-forgotten space can be transformed into nearly anything that could be found on the upper levels of your home.
With that in mind, the cost of remodeling your basement is only limited by your imagination—and your budget.
Bedroom
If things are starting to feel cramped upstairs, adding a bedroom in the basement might provide more breathing room—not to mention another bedroom on your spec sheet if you sell your home down the road.
However, be aware that this remodel project has very specific codes and guidelines that must be followed. In addition to walls and floors, a bedroom must also include a closet and a window that is large enough to provide an emergency escape if the stairs are inaccessible.
A basement bedroom remodel that includes all the necessary components costs anywhere from $3,000 to $10,000.
Bathroom
If the upstairs powder rooms aren’t cutting it for your household anymore, consider adding a bathroom on the lower level. A basement bathroom installation will cost anywhere from $6,600 to $16,500 but can have an ROI of 63%, according to the 2022 Remodeling Impact Report from the National Association of Realtors.
If you already have plumbing in your basement, you can expect your costs to fall on the lower end. But if you need plumbing, framing, floors, and ventilation installed, your costs can reach the higher end of the average.
Home Theater
Take movie night to the next level (the bottom one) with a tricked-out home theater. Creating a basement theater with all the bells and whistles, including seating, sound system, projector, and large screen, will cost around $12,000.
Bar
Building a basement bar can be an ideal centerpiece for entertaining at home. From prefab DIY islands to custom pieces with a sink and tap handles, the possibilities are endless. An average basement bar installation costs $8,000.
Gym
There’s no excuse to skip a workout if you only need to walk downstairs. While certain machinery like step climbers might not work in a basement with lower ceilings, popular gym equipment such as treadmills, weights, and punching bags would all fit nicely.
Depending on the components you include, a basement gym addition ranges from $300 to $15,000.
Office Space
If you work from home, be it full- or part-time, it may be time to create a more permanent and productive office space away from the household noise. A basement office costs around $500 to $3,000, depending on how high-end you’d like it to be.
Adding new lighting, framing, flooring, and a door are all potential components that can be included (at a cost).
Cost to Hire a General Contractor
A general contractor would be the professional of choice for such a large project. They will have access to other pros as needed—electricians, architects, plumbers, etc.—so you should only have to deal with one point person. General contractors charge between 10% and 25% of the total project cost as their fee. It’s rare for a general contractor to charge hourly for such a large job.
Cost to Remodel a Basement by Location
While all basements are underground, location matters a great deal. You can often scale the cost of the remodel by the cost of living (COL) for the area, adding a premium for hard-to-access areas like tight basement stairwells in New York City or San Francisco.
Remember that the least expensive options will be in suburbs between 30 minutes and two hours from a major city. Outside of that zone, you’ll pay surcharges for travel. Also, basements are not common in every city and state. So the fewer basements in the area, the higher the quote is likely to be.
| Location | Average Cost |
|---|---|
| New York, NY | $25,000–$48,000 |
| Los Angeles, CA | $21,000–$36,000 |
| Seattle, WA | $20,500–$34,000 |
| Columbus, OH | $18,000–$24,000 |
| Birmingham, AL | $15,000–$20,000 |
| Indianapolis, IN | $17,000–$22,000 |
Additional Basement Remodel Cost Factors
A basement remodel goes far beyond putting up drywall and rolling out the beige carpet. It is a complicated procedure that involves a number of cost factors. Consider the below aspects before signing off on a construction contract.
Permits and Inspections
Make sure to budget permits as part of your basement renovation costs. While the specifics will depend on the county or city where you reside, most basement remodel permits range from $500 to $2,000.
If you are working with an experienced company, they will typically take care of obtaining permits, but be sure to read the details of your contract and verify this piece.
Framing
If you're framing an unfinished basement, you'll need to install framing for the walls. Expect to spend between $4 and $10 per square foot for professional installation.
Insulation
Your basement may not need quite as much insulation as the rest of your home, depending on how much of it is protected by the surrounding earth. Adding insulation to a basement remodel averages between $1.50 and $2.50 per square foot. Remember that basement ventilation is also essential and could add to the price of insulating.
Drywall
Once the framing is complete and the mechanicals are in place, the next step will be drywall at between $1.50 and $3 per square foot.
Flooring
Keep moisture in mind when choosing a floor for your basement remodeling project. Common flooring choices include vinyl, vinyl laminate, tile, or carpet. Expect to spend between $3 and $11 per square foot for most basement floors and between $6 and $20 per square foot for tiled areas.
Painting
No basement remodeling project is complete until the wall and ceiling are protected. The cost of a professional painting of walls, ceilings, and trim work in a basement averages $4.70 per square foot of finished space or $2.75 per square foot for just the walls.
Plumbing
Does your basement smell musty? Does water collect in certain spots after a big rainfall? You may need to add a french drain or install a sump pump.
The cost of these projects depends on the size of your basement and the severity of your issues. Expect average costs of between $30 and $100 per linear foot of french drain and $1,275 for sump pump installation.
To add a bathroom or laundry room to your basement remodel, expect plumbing installation costs of between $4.50 and $6 per square foot of the rooms.
Electrical
Electrical issues can hide in your basement for years without you ever knowing they exist. For example, your wiring may not be up to code, or water damage near your wiring could lead to disaster if not treated. Or maybe your wiring just isn’t up to par for the big plans you have for your remodel.
Whatever the case, it’s best to leave all types of electrical work to a professional. Depending on the work that’s needed, you’ll pay between $85 to $1,000 for an electrician or between $3 and $9 per square foot.
Windows
Remodeling your basement is an excellent opportunity to lighten up a dark basement space. Each window will cost an average of $230 to $780 to install into your basement, plus potential landscaping costs to make them useful. Egress window installation can reach $2,300 per window if digging an egress well is necessary.
Mold Removal
Basements are prone to water damage. When removing drywall or flooring, you may find that mold has started to grow in your basement. If it’s a small amount of non-toxic mold, you can treat it yourself using a DIY mold removal method.
But if you need to jack the foundation or fix slab leaks, your costs may be more. The average cost for foundation repair is between $2,000 and $7,100.
Asbestos Removal
Asbestos may be a concern during your remodel if your home was built before the 1980s and your basement has vinyl flooring or millboard installed between 1952 and 1982.
There’s no DIY test for it (nor should you try to test it on your own). If you’re at all worried about asbestos, it’s best to hire a local asbestos removal company. It is not something you should tackle on your own, as mishandling can lead to mesothelioma and other asbestos-related conditions.
If you have asbestos, you should expect to spend an average of $2,100 to remove it.
Waterproofing
Several waterproofing methods are available to ensure water doesn't infiltrate your new basement remodel. The average cost of keeping water out ranges from $5 to $10 per square foot.
Foundation Repairs
If you notice cracks starting to develop behind your drywall or underneath your newly ripped-up flooring, it may be a sign that your foundation needs attention.
Minor repairs (like a small crack in the floor) are relatively affordable to fix, usually around $500.
But if you need to jack the foundation or fix leaks, your costs may be more. The average cost for foundation repair is between $2,000 and $7,100.
DIY vs. Hiring a Pro to Remodel a Basement
As you can see, the cost of basement remodeling depends on many factors. If you already have a finished basement and are only adding some minor finishes and upgrades, you may be able to save money on labor by doing it yourself. But if you’re inexperienced or short on time and tools, hiring a basement remodeling contractor to do the work for you can be well worth the money.
Your general contractor will handle everything from project planning, ordering materials, scheduling deliveries, installation, and more—pretty much anything and everything in between.
A general contractor costs about 10% to 25% of your basement remodel cost. So if your project costs $40,000, you’ll likely pay a contractor anywhere from $4,000 to $10,000 for their time and expertise. While that may seem like a lot of money, working with a professional can save you a lot of time and energy.
Remodeling vs. Renovating a Basement
"Wallpaper works best in lower-traffic rooms that don’t get very much moisture. Rooms like kitchens and bathrooms are not ideal for wallpaper since those are considered high-moisture areas and can cause the paper to peel."
— Gregory Pittman, Director of Commercial Painting Services at Five Star Painting
Homeowners looking for a total overhaul—either by choice or due to unforeseen damage—would be better off going for a remodel. This involves removing key elements and making large changes to the room such as adding walls or a bathroom. This is the more expensive option but can completely transform your space.
A renovation is a lower-cost option that can still have a large impact, albeit more visual than structural. A renovation may involve painting, changing the flooring, and removing a piece of drywall or two. Basement renovations are a great choice for homeowners who want to spruce up the space but don’t want to undergo major construction.
How to Save Money on Basement Remodeling Costs
While the cost of finishing your basement includes a significant investment, a finished basement can add value to your home. However, there are several ways to save money and budget for your basement remodeling costs to maximize the investment.
Obtain at least three price estimate bids for the project from different contractors. Avoid choosing a company that offers hugely discounted pricing, as the deal is likely not what it appears.
Balance your finish and fixtures between basic and luxurious as your budget allows.
Perform some of the preparation work, such as demolition, yourself.
DIY the finish trim work and painting if possible.
Work with a designer that can work with the existing plumbing and electrical to minimize those costs.
Don't bother finishing the space around things like the furnace and water heater—simply wall them off and account for adequate access.
Be creative at the recycled building materials store and try incorporating some reused and bargain materials into your design.
Does Remodeling a Basement Increase Home Value?
Basement remodeling offers a return on investment, or ROI, of around 70%, making it a worthwhile project. Also, having the extra space to work, play, or welcome out-of-town guests can help everyone feel a bit more relaxed. For potential buyers, a remodeled basement is a very attractive aspect of a home (which is reflected in the ROI).
Families with young children or kids in college will especially appreciate the separate space that often feels detached from the main house. A 70% ROI is one of the highest returns for a home improvement project, and the increase in serious buyers may even allow you to collect multiple quotes, turning your house sale into a “seller’s market” gem.
How Angi Gets Its Cost Data
Home is the most important place on earth, which is why Angi has helped more than 150 million homeowners transform their houses into homes they adore. To help homeowners with their next project, Angi provides readers with the most accurate cost data and upholds strict editorial standards. We’ve surveyed thousands of real Angi customers about their project costs to develop the pricing data you see, so you can make the best decisions for you and your home. We pair this data with research from reputable sources, including the U.S. Bureau of Labor Statistics, academic journals, market studies, and interviews with industry experts—all to ensure our prices reflect real-world projects.
Want to help us improve our cost data? Send us a recent project quote to costquotes@angi.com. Quotes and personal information will not be shared publicly.
Frequently Asked Questions
Assuming you are going for a full remodel for an average-sized basement with a reputable contractor, the process can take up to two weeks or more. Remember that basements have many stairs and often difficult access—it’s not like working in the entryway. The shuttling of materials, increased need for ventilation and safety precautions, and making sure everything can be removed through a doorway all increase time and cost.
The average cost of remodeling a basement is $30 to $75 per square foot. If your space is unfinished and looks like it may need more help, use the higher number when calculating your estimated basement remodeling costs. A good rule of thumb is to add an additional 20% to the top of your estimate to cover any “what if” situations.
For most basement remodels, you’ll want to hire a general contractor. This is for a number of reasons, but the main two are that general contractors have dedicated teams they are comfortable with, and hiring one means you only have to deal with one pro. You may also be able to get a better project quote as well since they can lump all their work and subcontracting into a single quote.