How much does it cost to renovate a 1000 sq ft basement?
Expect to pay $7,000 to $23,000, or $15,000 on average, to finish a 1,000 square foot basement. Add around $6,500 if you want to hire an interior designer and another $2,650 for furniture.
Is remodeling a basement worth it?
A finished basement can increase your property’s value by 70%. While a basement does not add to the overall square footage of the house, that fact is usually beside the point for homeowners. Finished basements often function as an informal living room/family room, office, home classroom space, and guest rooms.
How much value does a basement remodel add?
In the United States, on average, finishing a basement will give you a return of 70 to 75% of your investment. For example, if you spent $1,000 on improvements, it would increase the value of the property by about $700. If you spent $10,000 on improvements, it would increase the value of the property by about $7,000.
How much does it cost to install a bathroom in the basement?
Adding a bathroom in a basement costs $8,000 to $15,000 on average. You’ll save $500 to $1,000 if you have a rough-in drain already in place – typical in newer homes and usually near the main drain line.
Do appraisers look in basements?
One of the main factors appraisers consider is the size of the home. They take into account the total square footage, the size of each room, and the number of bedrooms and bathrooms. They’ll also look to see if your home has a crawlspace, attic, or basement, which all add value.
How much is an unfinished basement worth?
While finishing the basement certainly adds to the value of a home, it’s not always as significant as you might think. According to Remodeling Magazine, the national average for recouping basement finish or remodeling cost is 79%….SHARES.
| Market | National Average |
|---|---|
| Job Cost | $43,112 |
| Resale Value | $33,911 |
| Cost Recouped | 79% |
How much does it cost to put a bathroom in a basement?
Is it worth it to Remodel Your basement?
The basement is a perfect space that could be transformed into a warm and welcoming area for your family and friends to enjoy. A basement redesign, though time-consuming and cost-intensive, not only adds to your living space, it can also increase the value of your home.
What can you do with an unfinished basement?
But an unfinished basement — though sometimes helpful for providing extra storage space — doesn’t add a whole lot of value to your home. A renovated basement, on the other hand, can provide a space to entertain, relax, cook, play, or accomplish your personal goals.
What are the benefits of finishing a basement?
The two main benefits of finishing a basement are to add usable space and to add value to your home.
What are some cool ideas for a basement?
A modern basement with recessed electric fireplace. A lot of great contemporary elements in this space in Denver. Take a look at those cool lights above the bar. Unique lighted resin side panels (3form) on the bar. The best way to figure out how to put your finished basement to use is to determine what your home is missing.