How Much Will It Cost To Remodel Your Basement?
Understand cost and budgeting factors for your basement remodel
Basement Finishing Costs
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 – 2,000 SQ FT
$175,000 – $520,000

When you have an unfinished basement that's already dry, sealed, and up to code, finishing it is typically the most cost-effective remodeling option to add living space to your home. The process involves adding wood-framed walls with insulation against the concrete exterior walls, framing any interior walls for room division, installing drywall, painting, adding finished lighting fixtures, and installing flooring. Many homeowners finish their basements to create media rooms, music studios, play areas, or home gyms. Note that while finishing adds living space, adding kitchens, bathrooms, or utility rooms falls outside standard basement finishing scope.
- Minor layout changes
- Framed walls
- Drywall throughout
- New flooring and paint
- Lighting fixtures
Custom Basement Cost
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 – 2,000 SQ FT
$275,000 – $350,000
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.
- Major layout changes
- bathroom, kitchen, or laundry utilities
- Concrete cutting
- Updated backsplash
- Lighting fixtures
- New flooring
Foundation Remodel Costs
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 – 2,000 SQ FT
$450,000 – $1,000,000
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.
- 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, 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 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
Building long-lasting remodels requires the right materials and level of craftsmanship. These high-quality materials and craftsmanship often come at a higher cost.
Ready to Get Started?
Step 1
Schedule a call with a Design Consultant
Step 2
Invite us to your home for an initial evaluation
Step 3
Align on budget and meet to discuss the design
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.