We would like to renovate our basement and we would like to determine a realistic budget before we request estimates so we don't waste anybody's time. The area of the basement is 800sq ft and the length of the exterior walls is 100ft.
This is a finished basement but everything has to be redone: framing, insulation, drywall, ceilings, flooring. We will remove the existing drywall and insulation but leave the ceiling for the contractor to remove it.
This is one main area, an existing room, and a staircase that should be finished with laminate; no kitchen, no bathroom, no custom cabinets, no new walls, just pot lights and laminate flooring.
I would appreciate any suggestions so we can decide whether or not we can afford it.
A basic basement renovation would put you in the ballpark of $35/sq.foot +/- depending on the quality of floor, subfloor, doors and trim. Also don't forget the price of building materials have increased heavily in the past year.
Hope this helps.
Thank you, Eddie, for your quick reply. I did read about the price increase for wood-based building materials and I am assuming that you factored this in when you suggested $35/sqft.
I hope to hear from other pros as well.
The $35/sq.foot includes all materials to the paint. This sq.foot number used is to give the homeowner a good idea as to how much they could be paying. It could be less,it could be more.
For example, when the ceiling/ walls are removed there could be many electrical/ plumbing code violations. A professional estimate will determine the price and justify the work need.
Thank you again, Eddie, for the clarification.
We decided to remove the existing drywall/insulation ourselves so we can fix potential cracks beforehand.
We also suspect there are code violations with the electrical/duct work and we are trying to avoid surprises and hope to get accurate estimates upfront.
Would it be safe to remove the ceiling ourselves so that contractors can see the problems and provide accurate estimates? When I say safe I mean dangers related to electrical wires and also the possibility that the popcorn ceiling contains asbestos.
Thank you again Eddie, your advice is very much appreciated.
Thank you, Marcelino and John, your replies are very much appreciated.
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