Basement Finishing Costs Explained

Basement Finishing Costs Explained

Some basements need more finishing than others.

So how much is your basement remodeling project going to cost you?  This is a very common question we are asked as a home remodeling contractor.

Many homeowners do not realize how much effort, material and professional labor goes into finishing a basement in a New Jersey home. The basement is generally the largest unfinished space in your home and there are many structural issues along with finishing issues that will need to be addressed, these all take time and skill.

New Jersey Basement Remodeling Is Estimated By Square Footage

If you’ve done a little bit of research before hand you may have found that other New Jersey homeowners are paying anywhere from $30 – $120 or more per square foot of finished basement space.

So for example your 670 square foot basement might cost an estimated $32,160 to finish (based on a $48 per sq ft estimate). This would be a very mid-range finished basement, completed by a professional contractor.  The price will go up as the scope of the project increases and the material choices get more luxurious.

Like any other remodeling project the little details and materials will greatly affect the final project cost.  So for example your 970 square foot basement could easily cost you $92,150+ (based on $95 per sq ft estimate) if you are looking at lots of custom construction work and high-end material choices that will raise your price considerably.

This is why sticking with a rigid budget, or allowing for a small cost overrun is an important part of your basement remodeling project.

Another Note:  The cost to remodel or finish the basement is usually half what it would cost to build the same space onto your existing home with an addition, or new level added to the home. It’s for this reason that basement remodeling has become so popular.

Don’t Forget Electrical, Flooring, Plumbing and Paint!

Depending on what type of electrical or plumbing you have in your basement already it could be very easy or very difficult to hook up for your new basement.  Maybe you’d like a beautiful downstairs bathroom or a small bar or kitchen for entertaining?  If plumbing and electrical are not already in place at the location they will need to be run in.

Don’t forget the flooring, paint and all the finishing details too, which also take a considerable amount of time and skill.

Basement Remodeling Seems Expensive?

You may be already thinking the numbers quoted above sound very expensive. Maybe you’ve heard of someone else doing it for less, or another “professional” contractor offering to do it for much less. The pricing examples above (and they are only examples) would reflect having a true, licensed, insured professional remodeling contractor complete your project.

Everybody “knows a guy” that can probably do it for much less but is the quality going to be the same? Do you get a warranty? Do you get the knowledge of certified tradesman? Are you getting the materials you’ve specified?  There are so many unknowns and this is why it’s best to choose a professional remodeling contractor.

Basements are not DIY projects and definitely not for someone who isn’t knowledgeable about basements.

Your basement is a sensitive structural area of your home. One wrong move like removing a column, cutting a beam or chopping out a footing could cause the upper level of the home to collapse or become a serious building code violation and you’re in for a very expensive repair bill.

Who Finishes Basements in Passaic, Morris and Sussex Counties NJ?

When you choose G Custom Builders for your home construction or remodeling project you’re partnering with a small team of talented craftsman.  We will be prompt in our communication, we will show up when we say we will and we hold ourselves to very high standards for our work.

Every project we complete for our customers helps us build our base of word-of-mouth referrals.  As a contractor your reputation in the local community is everything and take that commitment seriously.

If you’d like to receive an estimate for your next construction or home remodeling project in Sussex, Passaic or Morris County NJ then give us a call at 973-534-5920 or fill out our contact form and we’ll get right back to you.