How Much Will it Cost to Remodel Your Basement
Understanding cost and budgeting factors for your basement remodel
Custom Basement Remodeling Costs
The cost of your basement remodel depends on the scope of changes you want to make. Larger, more complex projects with significant alterations typically come with a higher price tag. Most basement remodels fall into three main categories. Explore their descriptions to determine which one aligns best with your vision for the space.
Select One
BASEMENT FINISHING
SMALL BASEMENT
300- 800 SQ FT
$20,000 - $40,000
MEDIUM BASEMENT
800 - 1,200 SQ FT
$40,000 - $80,000
LARGE BASEMENT
1,200 - 2,000 SQ FT
$90,000 - $120,000
Before
After
If your basement is already dry, sealed, and up to code, finishing it is an excellent option. This is typically the most affordable way to remodel a basement and a great way to quickly add usable living space to your home.
Finishing a basement involves several steps. First, wood-framed walls and insulation are added inside the concrete exterior walls. If you’re dividing the basement into separate rooms, interior walls will also be framed. Next, drywall is installed and painted, followed by finished lighting fixtures and flooring.
Homeowners often finish their basements to create functional spaces like media rooms, music studios, play areas, or home gyms. However, it’s important to note that finishing a basement focuses solely on adding living space. Adding features like kitchens, bathrooms, or utility rooms would require a more extensive remodel.
Typical elements of a cosmetic refresh include:
- Minor layout changes
- Framed walls
- Drywall throughout
- New Flooring
- Lighting fixtures
- Fresh paint
CUSTOM BASEMENT
SMALL BASEMENT
300- 800 SQ FT
$150,000 - $200,000
MEDIUM BASEMENT
800 - 1,200 SQ FT
$200,000 - $275,000
LARGE BASEMENT
1,200 - 2,000 SQ FT
$275,000 - $350,000+
Before
After
Homeowners often choose a custom basement remodel to repurpose the space, such as adding a mother-in-law suite, bathroom, or laundry room.
Custom remodels provide the flexibility to make your basement more functional and livable. These projects typically involve updates to utilities like plumbing, electrical, or HVAC systems and may require tasks like concrete cutting, structural retrofitting, or minor excavation.
Remodels involving plumbing changes can be particularly complex, as accessing or installing new plumbing lines often requires cutting into the concrete foundation. Similarly, adding a bedroom may require installing an egress window, which could involve additional excavation and cutting into concrete walls.
- Major layout changes
- Bathroom, Kitchen, Laundry. Utilities
- Concrete cutting
- Lighting fixtures
- Plumbing fixtures
- New Flooring
FOUNDATION REMODEL
SMALL BASEMENT
300 - 800 SQ FT
$200,000 - $250,000
MEDIUM BASEMENT
800 - 1,200 SQ FT
$250,000 - $350,000
LARGE BASEMENT
1,200 - 2,000 SQ FT
$350,000 - $450,000+
Before
After
Foundation remodels are extensive projects involving significant structural and concrete work beneath the home. They are typically the most expensive type of basement remodel, as they require substantial alterations to the basement structure, such as converting crawl spaces into full-height basements or replacing the entire foundation.
These projects often involve raising the house with industrial jacks or excavating to lower the basement floor—both costly and highly detailed processes. In older homes, foundation replacements are common when the existing structure is compromised. This allows for a complete redesign of the basement foundation, offering customization but at a higher cost and greater disruption.
A foundation remodel may include:
- Major layout changes
- Bathroom, Kitchen, Laundry. Utilities
- Foundation under-pinning & repair
- Lighting fixtures
- Plumbing fixtures
- Additional basement height
What Affects the Cost of Your Basement Remodel?
Several factors can impact the cost of your basement remodel. Here are the three most important ones to consider when planning your project:
Level of Customization
Highly customized designs typically come with higher costs. Custom work involves more labor and premium materials, so plan for additional expenses if you’re opting for unique features.Labor and Project Management
Some homeowners prefer to take on certain aspects of project management, while others rely on a contractor to handle everything. The more responsibility your contractor assumes for managing and constructing the remodel, the higher the overall cost.Quality of Products and Materials
Investing in durable, high-quality materials ensures your remodel stands the test of time, but these often come at a premium. While budget-friendly options exist, higher craftsmanship and materials often require a larger investment.
Frequently Asked Questions
As a design-build firm, we work with homeowners to carefully plan every detail of their basement remodel before moving into the construction phase. Visit our Process Page to learn more about the design-build approach.
Absolutely! At Pegasus Construction., we’re dedicated to helping you stay in control of your basement remodel budget. One of the key advantages of the design-build process is that you'll have a clear understanding of the total cost before construction even begins.
While Pegasus Construction doesn’t provide direct financing for kitchen remodels, we do partner with trusted lenders to offer a range of financing options. Whether your project requires $10,000 or $1,000,000, we’ll help connect you with a lender that suits your financial needs.
Pegasus Construction is a design-build firm, providing comprehensive remodeling services by managing both the design and construction phases of your project. While design-build is one approach, it’s just one of several contractor options available to you.
When designed well and kept to a reasonable budget, a basement remodel can be a great investment in the value of your home and the quality of your life while you live there. Market data suggests that a kitchen remodel can add up to 80% of its cost back to the home’s value upon completion.
