It is a common question to many that how much a basement costs. There are many factors that influence the bottom number. In general, the average cost of a basement runs between $10 and $35 per square foot. If a basement is 1,000 square feet, then the cost would be between $10,000 and $35,000.
Different Costs of Basement
Several factors influence the cost of finishing a basement. The top five factors include finished square feet, cost of labor, bathroom, egress window and flooring. If the basement is not already poured, that is also an added cost.
Finished Square Feet
A general estimate is 1,000 square feet to give an idea, but it is best to do exact measurements of the basement before beginning. This will aid in determining the cost to finish the basement.
Cost of Labor
This is dependant upon where you live. Some regions have higher cost of labor than other regions. Get estimates from several contractors. If you are able, do the work yourself to save money.
Obviously adding a bathroom to the space will add to the overall cost of the basement. A basic bathroom will add about $5,000 to the cost.
Most areas will require an egress window to be added to the design. This is just an emergency exit if the basement is not a walk-out.
The type of flooring will add a significant cost to the overall price of a basement. Stained concrete will add only about $300 whereas engineered hardwood floors could add up to $7,000.
Cost to Pour a Basement
The cost to initially pour a basement does vary by region and by contractor. It is a good idea to get several estimates from contractors in the area so that you can compare the services offered and the prices. Research what needs to be done to prepare the area for the basement and then go with the contractor that best fits the need of the project. The cost for a basement to be poured should run between $8,500 and $10,000.