Your basement holds so much potential for what it can be for you and your family. From a guest suite to an at-home theater and gaming space, imagine the possibilities with a basement remodel. Explore what type of basement remodel would be the best fit for your family, learn about the costs associated with it, then adjust your choices of finishes and features to fit within your budget. What are the popular types of basement remodels homeowners choose and what can you expect a basement remodel to cost in Charlotte, North Carolina?
What kind of space you decide to transform your basement into depends on your hobbies, needs, and what brings you relaxation and joy. Here are a few ideas for the most popular basement transformations that homeowners choose.
Picture your favorite bar. Is it a sports bar with lots of wood, lighted bar signs, and beers on tap? Is it a posh wine bar with a lounge area and sleek lighting? Or maybe a bar that you’d imagine if you could create a space that includes several parts from your favorite watering holes. Think about the details. Consider lighting on dimmer switches, the type and amount of storage you’ll need to stock your space, and the style and finishes on the bar itself. Amenities like a wine cooler, a sink, a dishwasher, an icemaker, a Bluetooth speaker system, and soundproofing will make your in-home bar the place you’ll want to escape to while staying right at home.
Many homeowners see the basement as the perfect opportunity to add something that seems like a dream luxury, but is completely attainable. A home theater consists of a projector or large tv, a stellar sound system, plenty of comfortable seating, proper lighting, and a place to keep refreshments. Create a hybrid theater/game room with the addition of game consoles and increased wireless internet accessibility.
If you frequently host visiting friends and family, a guest suite to give them their own space as well as retaining your own could be a great remodeling plan. The plan for adding a guest suite is not unlike adding a primary suite to your home. You’ll want to plan for a bedroom, a kitchenette, a three-piece bathroom, and a sitting area. Depending on your available square footage, the floor plan can resemble a one bedroom apartment or a studio apartment where the bedroom and living space are in one open area.
With so many people still working from home, turning a spare bedroom or flex room into a home office has been an increasingly popular remodel or update. Locating your home office in the basement is a great way to create more space from the rest of the happenings in the home. You won’t hear footsteps going past your door, noise from the living room, or other interruptions that can happen when you’re only a closed door away. Include a wet bar and a bathroom and your home office will supply everything you need to get through the day uninterrupted.
Much like the at-home bar remodeling idea, a billiard room under your own roof can offer a great respite from the day. Invite friends over for a game of pool, have the game on in the background and offer everyone their favorite beverages and snacks from the built-in bar.
When factoring the cost of a basement remodel, the current condition of your basement, the complexity of your remodel, and the grade of the finishes will affect the cost. However, as a place to start, you can expect the standard remodel to start at $15 per square foot. So, if your basement remodel will consist of 1,000 square feet, expect the cost to be around $15,000.
Remodeling your basement provides one of the highest returns on investments (ROI). A finished basement with livable space can have an ROI of around 70%.
Cost averages are great as a basis for reference, but there are many factors that go into determining the cost of your unique basement remodel.
Everything from flooring to light fixtures will push and pull your cost in either direction. If budget is a concern to accomplish the basement remodeling plans you’re hoping for, consider compromising one grade of finish for another. In other words, if you’re hoping to install a high-end sound system but it requires a sizable amount of your budget, compromise on the grade of tile or fixtures in the bathroom. If you’re hoping to install wine and beer taps with custom-made cabinetry, perhaps compromise on hardwood floors and opt for luxury vinyl tile.
To keep your budget under control, lean on your designer and builder to help you choose finishes that accomplish your design goals while reigning in a runaway budget.
The electrical wiring, plumbing, and structural stability of your home becomes compromised after several decades of use. If your home is an older home, these systems will need to be assessed and possibly updated prior to finishing your basement. The only way to know the condition of your home for sure is to hire a professional to perform an inspection. This can be done by the remodeling company or an independent agent.
The costs associated with remodeling your basement will greatly depend on how finished, or unfinished, your basement is currently. If you’re starting with a space that isn’t insulated, has a concrete floor, and no ceiling or drywall, your cost will be higher than if your basement is already climate controlled with electricity and plumbing.
As already mentioned, this guide will give you a base understanding of what you can expect the cost of a basement remodel to be. So many different options go into remodeling a basement, however, in the end, the costs can vary quite drastically. The actual cost of your remodel may be very different from what’s explained here depending on the complication of the remodel, the age of your home, whether your basement is a completely raw space or not, and the amenities you’d like to include.
Use this cost explanation for planning but also reach out to a professional remodeler to get a more accurate understanding of what your basement remodel idea might cost. At Hopedale Builders, we’re focused on the client’s vision for their space, even when the vision is just the beginning of an idea. We’re reliable problem solvers that can work with you to develop the best layout, finishes, and amenities that will transform your underused space into a place where you’ll want to spend as much time as possible. Contact us to schedule a consultation today.