How Much Will it Cost to Remodel Your Basement?
Understanding cost and budgeting factors for your basement remodel
Custom Basement Remodeling Costs
The cost of your basement remodel depends on what you want to change. More complicated projects that involve a lot of changes to the space tend to be more expensive. Most basement remodels fall into one of three types of projects. Read their descriptions to see which one best fits your expectations for your remodel.
Select One
Basement FinishingBasement Finishing
SMALL BASEMENT
— 300 – 800 SQ FT —
$75,000 – $100,000
MEDIUM BASEMENT
— 800 – 1,200 SQ FT —
$100,000 – $175,000
LARGE BASEMENT
— 1,200 – 2000 SQ FT —
$175,000 – $520,000
Before
After
When you already have an unfinished basement that is dry, sealed, and up to code, you may want to finish the basement. This is almost always the least expensive basement remodeling option and can be a great way to easily add living space to your home.
The process of finishing a basement involves several steps. First, your team will add wood-framed walls and insulation to the inside of the basement’s exterior concrete walls. If you plan to split the basement up into separate rooms, they’ll frame the interior walls in, too. Then, they’ll add drywall and paint to the walls and ceiling, install finished lighting fixtures, and add flooring.
Many homeowners choose to finish their basements so they can use them more frequently. Media rooms, music studios, kids’ play areas, or home gyms are all popular uses for a finished basement. Keep in mind that simply finishing a basement will only add living space. If you’re looking to add a kitchen, bathroom, or utility room to your basement, that falls outside the scope of basement finishing.
- Minor layout changes
- Framed walls
- Drywall throughout
- New flooring
- Lighting fixtures
- Fresh paint
Custom BasementCustom Basement
SMALL BASEMENT
— 300 – 800 SQ FT —
$150,000 – $200,000
MEDIUM BASEMENT
— 800 – 1,200 SQ FT —
$200,000 – $275,000
LARGE BASEMENT
— 1,200 – 2000 SQ FT —
$275,000 – $350,000+
Before
After
Homeowners often opt for a custom basement remodel to change the space’s function, like adding a mother-in-law suite, bathroom, or laundry room.
Custom basement remodels offer flexibility in transforming the basement into a more functional and livable area. These projects typically involve altering utilities, like plumbing, electrical, or HVAC, and may require concrete cutting, structural retrofitting, or small-scale excavation.
Basement remodels with plumbing changes can be especially challenging because the concrete must be cut in order to access or add plumbing lines under the foundation. Adding a bedroom might also fall into this category if doing so requires adding an egress window. This may require additional excavation and cutting of concrete walls.
- Major layout changes
- bathroom, kitchen, or laundry utilities
- Concrete cutting
- Updated backsplash
- Lighting fixtures
- New flooring
Foundation RemodelFoundation Remodel
SMALL BASEMENT
— 300 – 800 SQ FT —
$200,000 – $300,000
MEDIUM BASEMENT
— 800 – 1,200 SQ FT —
$300,000 – $450,000
LARGE BASEMENT
— 1,200 – 2000 SQ FT —
$450,000 – $1,000,000+
Before
After
Foundation remodels involve significant structural and concrete work beneath the home. They are the most expensive type of basement remodel, requiring alterations to the basement structure itself, like converting crawl spaces to full-height basements or replacing the foundation entirely.
These projects may necessitate raising the house on industrial jacks or excavating to lower the basement floor, both of which are costly and carefully planned. Another common scenario is replacing a compromised foundation, which is common in older homes. This option allows for the complete redesigning of the basement foundation, which is highly customizable but also costly and intrusive.
A foundation remodel may include:
- Major structural alterations
- Foundation replacement
- Full house lift
- Crawl space conversion
- Basement dig-down
Basement Finishing
SMALL BASEMENT
— 300 – 800 SQ FT —
$75,000 – $100,000
MEDIUM BASEMENT
— 800 – 1,200 SQ FT —
$100,000 – $175,000
LARGE BASEMENT
— 1,200 – 2000 SQ FT —
$175,000 – $520,000
Before
After
When you already have an unfinished basement that is dry, sealed, and up to code, you may want to finish the basement. This is almost always the least expensive basement remodeling option and can be a great way to easily add living space to your home.
The process of finishing a basement involves several steps. First, your team will add wood-framed walls and insulation to the inside of the basement’s exterior concrete walls. If you plan to split the basement up into separate rooms, they’ll frame the interior walls in, too. Then, they’ll add drywall and paint to the walls and ceiling, install finished lighting fixtures, and add flooring.
Many homeowners choose to finish their basements so they can use them more frequently. Media rooms, music studios, kids’ play areas, or home gyms are all popular uses for a finished basement. Keep in mind that simply finishing a basement will only add living space. If you’re looking to add a kitchen, bathroom, or utility room to your basement, that falls outside the scope of basement finishing.
- Minor layout changes
- Framed walls
- Drywall throughout
- New flooring
- Lighting fixtures
- Fresh paint
Custom Basement
SMALL BASEMENT
— 300 – 800 SQ FT —
$150,000 – $200,000
MEDIUM BASEMENT
— 800 – 1,200 SQ FT —
$200,000 – $275,000
LARGE BASEMENT
— 1,200 – 2000 SQ FT —
$275,000 – $350,000+
Before
After
Homeowners often opt for a custom basement remodel to change the space’s function, like adding a mother-in-law suite, bathroom, or laundry room.
Custom basement remodels offer flexibility in transforming the basement into a more functional and livable area. These projects typically involve altering utilities, like plumbing, electrical, or HVAC, and may require concrete cutting, structural retrofitting, or small-scale excavation.
Basement remodels with plumbing changes can be especially challenging because the concrete must be cut in order to access or add plumbing lines under the foundation. Adding a bedroom might also fall into this category if doing so requires adding an egress window. This may require additional excavation and cutting of concrete walls.
- Major layout changes
- bathroom, kitchen, or laundry utilities
- Concrete cutting
- Updated backsplash
- Lighting fixtures
- New flooring
Foundation Remodel
SMALL BASEMENT
— 300 – 800 SQ FT —
$200,000 – $300,000
MEDIUM BASEMENT
— 800 – 1,200 SQ FT —
$300,000 – $450,000
LARGE BASEMENT
— 1,200 – 2000 SQ FT —
$450,000 – $1,000,000+
Before
After
Foundation remodels involve significant structural and concrete work beneath the home. They are the most expensive type of basement remodel, requiring alterations to the basement structure itself, like converting crawl spaces to full-height basements or replacing the foundation entirely.
These projects may necessitate raising the house on industrial jacks or excavating to lower the basement floor, both of which are costly and carefully planned. Another common scenario is replacing a compromised foundation, which is common in older homes. This option allows for the complete redesigning of the basement foundation, which is highly customizable but also costly and intrusive.
A foundation remodel may include:
- Major structural alterations
- Foundation replacement
- Full house lift
- Crawl space conversion
- Basement dig-down
What Affects the Cost of Your Basement Remodel?
There are several factors that may influence the cost of your basement remodel. Here are the 3 most important ones to consider when planning your project.
1. Level of Customization
The more customized your basement remodel designs, the more the project will cost. Custom work requires more labor and higher-quality products, so be prepared to pay more for custom features.
2. Labor & Construction Administration
Some homeowners prefer to have a more involved role in organizing or constructing their basement remodel. Others simply want to hire a contractor who will handle the entire process. The more involved your contractor is in managing and constructing the project, the more expensive it will be.
3. Product & Material Quality
Nobody wants to remodel their basement just to watch it fall apart a year later. However, high-quality materials and craftsmanship for your basement remodel often come at a higher cost.
Frequently Asked Questions
What is Lamont Bros.’ process for a basement remodel?
As a design-build firm, we work with homeowners to thoroughly plan out their basement remodel project before moving them to construction. Check out our Process Page to learn more about the design-build experience.
Can you keep the cost of my basement remodel within my budget?
Absolutely. At Lamont Bros., we’re committed to keeping you in charge of the cost of your basement remodel. One major benefit of the design-build process is that you’ll know exactly how much your remodel will cost before it ever begins construction.
Do you offer financing for basement remodeling?
Although Lamont Bros. does not directly offer financing for basement remodels, we do partner with several lenders to provide our clients with a variety of financing options. Whether you need $50,000 or $500,000, we’ll work with you to find a lender who meets your financing needs.
How is Lamont Bros. different from other contractors?
Lamont Bros. is a design-build firm, meaning we offer full-process remodeling services and oversee both the design and construction of a remodel. Design-build firms are but one of many types of contractors available to you.
To ensure that you’re able to hire a contractor who meets all of your kitchen remodeling expectations, check out our 3-Step Guide to Choosing a Remodeling Contractor.
Is a basement remodel a good investment?
When designed well and kept to a reasonable budget, a basement remodel can be a great investment in the value of your home and the quality of your life while you live there. Market data suggests that a basement remodel can add up to 80% of its cost back to the home’s value upon completion.