Things to Consider

Estimating the Cost of a Finished Basement

Every basement is unique and the cost will vary depending on the customer’s individual wants and needs. Generally, variables such as total square footage finished, types of rooms included (bathroom/ bedroom), finishes, architectural elements, and specialty items such as wine cellars, wet bars, theater rooms, etc. will all be part of determining the final cost.

To give you a more specific idea, according to the Denver Post, “Basements can be finished for $30 to $75 per square foot, compared with room additions, which range in cost from “$150 to $200 per square foot.” Upstairs square footage typically ranges from $150 to $250 per square foot depending on your location.

Our basements generally start at $40 a square foot as we are focused on delivering distinctive, high-quality basements as well as an exceptional customer experience.

Usability Factor

One of the most important values of finishing a basement includes benefits that can’t be measured in actual dollars and cents. For example, how do you measure the improved quality of life and enjoyment one gets by adding an entertainment area with lots of space for young children, an extra bedroom/bathroom for guests, or a home theater? This usability factor is often overlooked and difficult to measure. However, it is a major component of the actual value of a basement-finishing project.

One thing to consider is the more you make your basement feel like an extension of your house, the more enjoyment and pleasure you will ultimately receive from the space. That is why we feel it is important to use similar architectural features and finishes consistent with the rest of your house. 

Resale Value

There are many factors that can affect the resale value of homes, including:

  • Whether the lower level compliments the rest of the house with the same feel, quality, and finishes

  • Addition of high demand rooms such as a bedroom and a bath in the space

  • City and area in which you live. 

  • Value of the house itself and the rate at which property values are changing.

Ultimately, if resale value is a major factor in your decision to proceed with your basement finishing project, the best course of action is to speak with a professional real estate agent familiar with your specific neighborhood.