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2020 Average Cost to Finish a Basement

Updated: Jan 22, 2021

Converting your unfinished basement into a useable space is a great way to add square footage to your home. An unfinished basement provides a blank canvas that can be converted into many different room options that serve your wants and needs. From an open room, added bedrooms, hang out room for kids, wet bar, gathering area, to even a gym.

Average basement remodels cost between $10,000- $30,000. The different options you select for your space as well as the level of finish will affect your overall price. On average costs are between $45-$55 per square foot of livable space. We prefer to provide an estimate based on the desired remodeling. Once we are moving forward with the project we will bring subcontractors to review the project and give us their bids. Then we Utilize Builder Trend to line item out the cost plus our fee. We operate on a cost-plus basis because this simple method ensures there are no hidden costs and you can use any savings on upgrades.

Most basement costs are based on square footage with specialty trades increasing the price. Specialties items can include:

-Adding plumbing for a wet bar or bathroom

-Special power requirements

-Cabinetry for custom bars

- Audio Visual Data


-Adding Walk outdoor options

Lastly, remember that if you are adding mechanical, electrical, plumbing, or doing a structural change you will need a building permit.

Great options for basements:



-Home Theater

-Home gym

-Custom Bar

-Walk-in wine cellar

- Home Office

If you are looking to remodel your basement and would like design advice and an estimate then be sure to give us a call. 719-220-0734.

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