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Top 5 Basement Budget Factors

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Top 5 Basment Budget Factors

Finishing your basement can be a very rewarding home improvement to invest in. Many basements go unused, yet they often offer a significant amount of space that could be put to good use, whether it’s as an additional living area, another bedroom, a home office or an entertainment space, just to name a few ideas.

Of course, depending on what your budget is and what you’re aiming to achieve out of the project, a basement remodel can vary in cost. The following are five of the main factors that will affect what it will cost to finish your basement:

1. The Size of Your Basement

The bigger your basement is, the more expensive it’s going to be in order to remodel it. While this might seem obvious, there are a number of reasons that factor into why your basement’s square footage has such a big effect on the final price. First of all, the bigger your basement is, the more materials you will need, whether it’s hardwood flooring or drywall. Additionally, the more materials that need to be used, the longer it will take to get the project done. And, finally, the longer it takes to get the project done, the more labor is required.

2. The Amount of Labor Required

One thing to keep in mind is that the cost of labor varies from one place to the next. It’s going to be more expensive to get your basement refinished in an urban area than it is in a rural area as a result of demand. In fact, the time of year can have an impact as well. Labor is often more affordable during the winter seasons because fewer people are investing in home improvement projects during this time.

However, the amount of labor will also depend on what you’re doing to your basement. If it’s just a matter of installing flooring and some drywall, it won’t require quite as much labor than if you were also redoing all of the basement’s lighting and adding different rooms to the basement.

3. The Addition of a Bathroom

One of the things that will really add to the cost of your basement remodel is if you’re planning on installing a bathroom. Adding a new bathroom to your basement is going to require a lot of materials and labor, since numerous fixtures, such as a shower, toilet, and sink, will all need to be purchased and installed.

Additionally, you may need to hire a plumber and an electrician to work on the plumbing and lighting of the bathroom, both of which can be quite complicated depending on where the piping and wiring are located within your home.

4. The Addition of an Exit

Many basements do not have their own exits. In fact, some basements don’t even have windows. You’ll want to add some kind of an emergency exit for your basement, whether it’s by installing windows that you can fit through if you need to crawl out or by building an actual exit to the exterior of your home that you can walk through. As you can imagine, this will take a lot of construction work to achieve.

5. The Flooring

Unfinished basements typically only have concrete flooring, which means you’re going to want to install a new floor. The cost of doing so will vary widely depending on the material you choose as well as the square footage of your basement.

These are five of the major factors that will affect the cost of your basement remodel. For a free basement remodel consultation, contact Majestic Home Solutions today.

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