About this calculator: This tool will give you a ballpark estimate of the cost to finish your basement. There are a LOT of variables associated with determining an exact value. This calculator does as good a job as can be expected given a single input variable: square footage. Obviously your cost will be determined on your exact choice of design, number of rooms, type of rooms, number of bathrooms, quality level of materials, who does the work, who manages the work, etc, etc.
Assumptions: The flooring in this calculator is carpet. For hardbood flooring or tile your cost will be higher. The costs estimated here are from finishing your basement using typical materials. If you want high end bathroom fixtures, flooring, etc add another 20% to the bottom line. This estimate includes adding one new full bathroom with rough-in plumbing in place.
Ways to save money:
- Be your own general contractor and save 20% right away. It does take a lot of time, but it was worth the savings for me. I recommend that you...1. Read this book to learn the basics of each task 2. Find reputable contractors by using angie's list (craigslist contractors are usually cheaper but I would avoid). Use promo code SAVE25 to save 25% at angie's list.
- Get 'labor only' bids and buy the materials yourself. This allows you to use a 10% off coupon at Home Depot or Lowe's (available on eBay). Use a 5% cash back credit card (see the current 5% cash back calendar at rewardo.co).
- Rent the tools you need at Home Depot or buy used on craigslist.
- Do at least some of the work yourself - everyone can paint.