An average basement remodel costs $25 to $65 per square foot or $12,500 to $65,000 total with labor, depending on the size and scope of the project. Common basement remodeling jobs include:
Remodeling a basement has a 65% to 70% return on investment (ROI). The exact value a basement remodel has will depend on the changes made and the square footage.
When selling a home, the Multiple Listing Service (MLS) separates the above ground square footage from below grade square footage. Above ground spaces are worth about twice as much as lower-level rooms.
A basement remodel takes 3 to 8 weeks on average, depending on the size and changes made. The following factors may increase the project timeline:
Some use the terms remodeling, renovation, and finishing interchangeably, but they're technically different from each other:
Yes, you need a permit to remodel a basement. Building permits cost $500 to $2,000 when structural changes are involved. Permits make sure your changes are done properly and up to code. Remodeling without a permit is risky and can negatively impact your home's resale value.
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