How Much Does it Cost to Remodel a Basement? [Updated February 2019]
If you're looking for a great way to take advantage of under-utilized living space in your Atlanta-area home, remodeling your basement can be the perfect project. It allows you to increase useable space without increasing the existing footprint of your home.
Facts and Figures—How Much Does it Cost and What is the Return?
The 2019 Remodeling Cost vs. Value Report [www.costvsvalue.com] is a very helpful tool for getting an idea about the costs of various remodeling projects. The report provides average costs for projects by specific regions.
In 2017, most Atlanta homeowners spent an average of $70,474 on basement remodels. That resulted in an average added value of $46,009 for a 65.3% return on investment (Numbers for 2019 are not currently available, but the existing numbers provide a solid baseline). These costs are based on three basement areas that include a 20-by-30-foot central entertaining area with a wet bar, a 5-by-8-foot full bathroom, and a 24-linear-foot partition enclosing a mechanical area.
[Read More: 4 Fantastic Finished Basement Designs]
What Features Are Included in This Newly Remodeled Area?
The remodeling begins with replacing the drywall on all walls and ceilings, including mudding, sanding, painting, and finishing with trim. Where necessary, insulation is added to exterior walls. All electrical wiring is redone to code. Five paneled, hardboard doors with locks are also included to delineate spaces within the remodeled basement.
The central entertainment room area employs a snap-together laminate flooring system. The remodel includes 15 recessed ceiling light fixtures as well as three surface-mounted lights. The bar area features vinyl floor tile and 10 linear feet of raised-panel oak cabinets topped with laminate countertops. Bar fixtures include a stainless steel sink with a single-lever bar faucet and an under-the-counter refrigerator.
The newly refurbished bathroom includes resilient vinyl flooring; a vanity with a cultured marble top, a lighting fixture, and a recessed medicine cabinet; a two-piece, fiberglass shower unit; a standard white toilet; and a light, a fan, and towel rack.
These improvements provide an additional 640 square feet of useable living space—while tastefully hiding the mechanical space behind a partition. If you’d like a visual of what this kind of basement entertainment room could look like, we invite you to check out this basement we recently remodeled in a 1920s Tudor home in Virginia Highlands.
Other Underground Options
Who couldn’t use an extra 640 square feet of space? But what if an entertainment area with a wet bar isn’t what you had in mind? What else could you use the space for? While it’s been traditional to use renovated basements as family entertainment spaces, your basement can unlock a number of ways to use extra space, including:
- An Office
- A new bedroom
- Needed storage space
- A Media room
- An Art studio
- A child's playroom
- A Wine cellar
- A Craft room
- A Music room
In some cases, you may be able to create an entirely separate living area for older children or as an in-law suite. An accessory dwelling unit (ADU) adds additional functional space to your house and can dramatically increase the value of your home.
[Updated February 2019]