Basements can be a great additional hangout space in your home. If your basement is not finished and plan to begin the process of finishing it, it is important to keep in mind that there is a lot that goes into finishing a basement. These steps include adding walls, flooring, smoothing the ceiling, plumbing, electricity inspections, etc. This process can be rather costly, you can expect to spend about $18k for your basement.
If you are wondering if finishing your basement will add value to your home, you must consider what the plan will look like, whether you are creating more rooms, or simply creating one big living room area. Adding more square footage to your home will most definitely increase the price of the house at the time of selling.
Another factor to consider is the flooring you will choose for your basement. If you think your basement will be experiencing lots of traffic, you will want to go with vinyl floors. Vinyl floors are not very expensive, you can expect to pay around $350 for the whole floor, depending on the size of your basement. Another option would be tile floors. These are ideal if there will be a kitchen and bathrooms in the basement. While using tiles will cost you about $1,600 for the whole basement, these are ideal for summer time as they keep floors cool. Subsequently, carpet floors are always an option. Carpet is good for those with children as it is safer. Carpet floors will cost around $1,500.
For your ceilings you could opt to leave the pipes hanging out on your ceiling and just have a painter paint over them, this will normally cost between $300-500. You could also add dry wall for a more uniform look to match the rest of your home. This will cost about $15 per panel, so the final cost will depend on the size of your basement.
Warner, Felicity. “Answers to Your Basement Finishing & Remodeling Cost Questions.” Better Homes and Gardens, 27 July 2017, www.bhg.com/home-services/advice/cost/finishing-a-basement-costs/.