For many who are considering them, one of the top benefits of a potential basement finishing project is to bring great return on investment (ROI) and increase home value. By adding a room and additional space and storage potential to a given home, real estate market value often increases significantly.
At Blue Dawn Drywall, we’re here to provide comprehensive, high-quality basement finishing services at your convenience. Our drywall and painting contractors will help you assess every piece of this project and how it might impact your ROI, which starts with a firm understanding of your costs in each desired area. In this two-part blog series, we’ll dig into several of the important components and factors that play a role in the final cost of your basement finishing project.
The single largest factor in how much your basement finishing will cost is how you want the new space to look and which features you want present. There’s a huge amount of variability here depending on the space in question and your desires, which is why basement finishing costs range so significantly from home to home. Our contractors will sit down with you for a pre-project consultation where we go over every major component and design you’re looking for, plus the material and installation costs involved and any obstacles that might require working around.
Because basements are the lowest point in a given home, they are prone to moisture concerns if they’re not finished properly. This makes waterproofing during the finishing process very important, along with areas like drainage, vapor barriers and sump pumps in the space. Once again, we’re happy to spend some time going over the basement’s waterproofing needs before we get started, so you have an understanding of what they’ll cover and cost.
Once waterproofing is finished, it’s time to get started with actually laying out the design of the project. The first big step here is framing new basement walls if needed, which you can usually expect to cost between $2 and $5 per square foot in most cases. We’ll inform you of material options and layout considerations before getting started.
Permits and Approvals
Depending on the precise nature of the job you’re undertaking, you may need to secure certain permits or approvals from the state or your local municipality before getting started. These costs will vary widely based on your needs, but may be present for areas like adding new square footage, altering major home systems or other major considerations.
Insulation and Soundproofing
If insulation isn’t already present for the basement area, installing it is very important for regulating temperature and maintaining low HVAC and energy costs. Expect drywall to cost between $2 and $6 per square foot. In addition, if you desire soundproofing for the area, it usually tends to cost around a dollar per square foot, sometimes even a bit less.
For more on the factors that play a role in basement finishing costs, or to learn about any of our drywall installation or painter services, speak to the staff at Blue Dawn Drywall today.