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The cost to remodel a basement is between $12,100 and $33,400 for the average homeowner. The price you pay can be as little as $3,500 or as much as $50,200, depending on the size and condition of your basement and the type of remodel you're doing. 

If you're doing a simple project like adding a home office to your basement, you can expect to pay anywhere from $500 to $3,000. However, if you're adding a bathroom, which is an extensive project, you can expect to pay between $6,600 to $16,500.

The cost to finish a basement is $18,400 for the average homeowner. However, this cost could be as little as $2,800 or as much as $34,500, depending on the basement size and the materials needed. If your basement is already outfitted with electrical and plumbing, expect the cost to fall on the lower end. 

For example, the drywall cost for this project averages around $1,750, but other features, like hiring a plumber, cost between $45 and $200 per hour.

Although homeowners often use the terms basement remodeling and basement finishing interchangeably, they are quite different terms. 

Finishing a basement is the process of taking a basement space that is not habitable and adding elements to make it usable. This includes adding plumbing, flooring, and insulation.

Remodeling a basement means taking an already existing finished basement and changing it, often by adding or removing walls, adding plumbing, or changing the existing flooring.

Unless you have extensive experience in construction work, remodeling a basement is best left to a professional. There are several tasks associated with this project that require exact precision, including:

• Replacing insulation 

• Replacing carpet or other flooring 

• Adding heating and cooling

• Adjusting or adding walls and doors

• Altering or adding plumbing elements

If any of these elements is done incorrectly, it could severely impact the quality of your basement remodel and be dangerous. Changing a basement often comes with code safety requirements, like egress windows and proper ventilation. Therefore, leaving it up to a professional is often the best decision.

Since DIYing a basement remodel isn't typically advised, there are some ways that you can still save money on this project without putting yourself in danger. Some ways to save money on a basement remodel include:

• Painting walls yourself versus including in the cost of the remodel 

• Installing light fixtures yourself

• Choosing prefabricated fixtures, like cabinets, over custom ones

• Choosing a budget-friendly flooring option, like laminate or vinyl flooring, and add rugs where necessary