How Much Does It Cost to Start Finishing a Basement?
If you have an unfinished basement, you can save money by doing some of the work yourself and tackling a partial remodel as your budget permits, rather than hiring a contractor for everything at once. The price you pay depends on the specific project and whether you hire a professional. The figures below are from 2011 and come from DIYorNot.com.
By Harper Young
Partially refinishing a basement can hide appliances.
Because an unfinished basement is cheaper than a finished one, homebuyers can save money upfront. Then, as budgets allow, do-it-yourselfers can gradually make the space livable by completing partial remodels until the basement is fully finished. What a partial refinishing project costs depends on the task and on whether the homeowner or a contractor does it. Prices are as of 2011 and from DIYorNot.com.
Walls
To quickly and inexpensively turn a cold basement into a livable space, homeowners can frame walls, add insulation, and install wallboards. A do-it-yourselfer can complete this in about 32 hours for the cost of materials, which usually run $470 for a 20-by-30-foot space. Tools required include a saw, a carpenter's square, a level, scissors, staplers, and screw guns. If a carpenter is hired, the job will be finished in 25 hours and done more professionally, but it costs about $1,559.
Ceiling
A basement with finished walls may be livable, but the clutter of ductwork, pipe, and wire near the ceiling may be an unwelcome distraction. During winter, that area can also trap heat that should be circulating into the living space. A suspended ceiling covers the mess with acoustic tiles on a metal grid. Handy homeowners can cover a 300-square-foot space in 24 hours for about $650. Contractors charge $1,113 but can complete the job in 17 hours. Costs rise if the installation includes lighting.
Flooring
Installing carpet tiles is one of the more convenient ways to finish a basement floor, since they can easily be replaced if damaged. They range in size from 12 to 22 inches and lock together. Do-it-yourselfers can complete 180 square feet in about six hours at a cost of $890. Professionals charge $1,071 and complete the job in five hours. Wall-to-wall carpeting involves more effort but offers a more finished look. Homeowners can complete the job in nine hours for $500 in the same-sized room with good quality nylon carpeting and padding. Pros take about four hours and cost $740.
Labor
The cost of using professionals varies because their wages depend on their location in the country. For example, the Bureau of Labor Statistics puts the wages of carpenters, as of May 2010, at a mean $21.10 throughout the United States, with a low of $11.85 and a high of $34.45. Hiring one in Hawaii and Alaska costs the most money because wages there run a mean $31.81 and $29.14 per hour, respectively. These are the highest-paying states for the profession. Rates drop in South Dakota, where wages are a mean $14.81 per hour, and Texas, where the pay is a mean $15.59 per hour.
