Being one of the original 13 colonies (and the first state), there are many older homes in Delaware. Many of these houses include basements, some of which need to be finished or remodeled. If you have a basement that needs to be updated, you might be wondering exactly how much it will cost to turn it into a more usable space.
There are many factors that impact the cost of a basement remodel, including the size of the basement, the amount of work that needs to be done, and your plans for the space. Depending on what you choose, you could spend anywhere from $10,000 to over $50,000 to remodel your basement in Delaware. If you are in the market for a basement update, Carl Deputy and Son Builders can work with you to renovate your house in a way that meets your needs and fits your budget.
Based in Felton, our team offers new construction and renovation services to homeowners throughout Kent and Sussex Counties in Delaware and the Eastern Shore of Maryland. We will listen carefully to your hopes for your basement renovation and help you make design choices to stay within your budget. To learn more, reach out to our design and construction team today.
Have questions about building a home or making home renovations? Sometimes talking directly to an expert is easier than reading a post. Speak with a builder at Carl Deputy & Son Builders > (302) 284-3041
How Much Will My Basement Remodel Cost?
Typically, basement remodels cost between $10 and $100 per square foot. The cost may vary significantly based on area and the specific contractor that you choose. Depending on the size and complexity of your project, a basement remodel could cost you anywhere from $10,000 to more than $50,000.
Factors That Affect the Cost of a Basement Remodel
As with any construction project, there are a lot of different elements that go into the total cost of a basement renovation. Some of these factors are outside of your control, such as the current state of your basement (completely unfinished versus partially finished). Other factors, like the types of finishes and materials that you choose, are within your control.
Basement Size
First, the size of your basement will impact the total cost of the remodel. If you have a 1,200 square foot basement and are quoted a cost of $20 per square foot, the renovation will cost you $24,000. If you have a smaller basement at 700 square feet, then the renovation would cost $14,000.
There isn’t much that you can do to change the size of your basement. However, if you simply want to add some more living space, you could choose to update a portion of the basement. For example, you might turn one half of the basement into a play area for your kids and leave the other half unfinished for storage, laundry, and more.
Existing Basement Condition
Second, the current state of your basement will impact the overall cost of the renovation. If your basement is completely unfinished, it will cost more to renovate it compared to a partially finished or fully finished basement.
An unfinished basement usually has concrete (or even dirt) floors, concrete walls, exposed pipes and/or ductwork, and little (if any) insulation. By comparison, a partially finished basement may have drywall on the walls and some type of flooring. If the contractor has to install plumbing, wiring, flooring, drywall, and other basic elements, it will cost more than simply updating an already finished basement with new features and finishes.
Similarly, if the basement has any type of structural issue, then the construction team will have to address that before they can move onto the more cosmetic aspects of construction. For example, if your basement has moisture issues, then the source of the leak will have to be found and fixed. The contractor may also install waterproofing to prevent similar issues from arising in the future.
Labor
Third, the cost of labor will affect the overall price of your basement renovation. In most construction projects, labor accounts for about 40% of the budget. This makes it the single largest expense for renovations.
The total cost of labor will depend on things like the type of specialty work being done and the amount of work needed. If you want tile work, to rewire the basement, or to do structural work, then you might need to pay for experts to get it done correctly. Our construction company works with trusted craftspeople to ensure that your house is built to the highest possible standards.
Features & Finishes
Fourth, the features and finishes that you select will play a role in the overall cost of the renovation. This includes both the cost of the materials as well as the scope of the renovation. If you want to add a kitchen to make your basement a potential rental unit, for example, then you will have to factor in the cost of appliances, countertops, and cabinets. If you add a bathroom, then the cost of plumbing it in and all of the fixtures will be an added expense.
Any type of changes to the structure of the basement will make a renovation more expensive, such as adding or moving walls, doors, or windows. Other aspects of the renovation may add to the total cost as well. If you want custom cabinetry for a game room, for example, then that will be more expensive.
Fortunately, this is the aspect of the renovation where you can control how much you spend. While you can’t change the size of your basement or its type, you can also keep the cost lower by choosing a simpler design and materials. Our design team can work with you to help you make choices that fit within your budget. We have experience working at all price points, from extensive 6-figure basement renovations to more modest $15,000 remodels (that still have quite an impact!).
Ultimately, the cost of a basement remodel will depend on the individual project. It is often a great investment in making your home more livable and adding to the value of your house. If you are interested in a basement remodel, reach out to our construction firm to learn more about our options.
ROI of a Basement Remodel
In Delaware, not all houses have basements. A lot of Delaware is along the coast of the Atlantic Ocean. These houses typically don’t have basements because of the higher water table and the potential for flooding.
In inland Delaware areas, basements are much more common. However, historical houses often lack basements. Some new construction houses also lack basements because of the cost or difficulty of excavation.
If you do have a basement, it might mostly function as storage and a place to do laundry. Unfinished basements can be dark and dreary – not somewhere that anyone wants to spend time. While having a place to store holiday decorations and other items is useful, many people would love to make their basement more livable and expand the square footage of their house.
A basement renovation can add square footage and functionality to your house. For example, a basement can serve as a perfect playroom for younger kids, a hangout spot for teens, or a workout area/gym for the whole family. It can also make your home more valuable, particularly if the renovation includes adding a legal bedroom, bathroom, and/or a space that qualifies as a rental.
According to a report from the National Association of Realtors, a basement remodel is one of the top four interior renovations when it comes to return on investment (ROI). On average, you can expect to recoup 86% of the renovation cost when you sell your house. For example, if you spend $75,000 on a basement renovation, you could add $64,500 to the value of your home.
The return on investment will be based in part on the type of renovation you have done and how much livable space it adds to your home. Some common basement remodel options include:
- Refinishing stairs and/or making them compliant with the local building code
- Adding an egress point (a door or window that can serve as an exit and entrance during an emergency)
- Creating a family room, play room, game room, or other living space
- Adding flooring and walls
- Creating a one-bedroom apartment
- Adding a bathroom
For older homes, a basement remodel may also include dealing with foundation and/or structural issues, such as cracks in the foundation or flooding.
Of course, for most homeowners, the driving force behind a basement remodel isn’t to increase the potential sales price of their home. It is to make the most of a home that they already love. If you are thinking about remodeling your basement, Carl Deputy and Son Builders can help you turn your dark, dreary basement into a gorgeous, welcoming space.
Considering a Basement Reno? Give Us a Call.
A basement renovation can be a great way to expand the living space in your home, allowing you to stay in your current house while updating it to meet your needs. The cost can vary significantly, from $10,000 for a smaller basement update to more than $50,000 for more extensive work. We can help you remodel your basement to meet your vision while staying on budget.
Carl Deputy and Son Builders work with clients throughout Delaware, with a focus on Kent County, Sussex County, and the Eastern Shore of Maryland. We build custom homes, semi-custom homes, and perform luxury renovations of all types for homeowners. Our goal is to help you achieve your dreams without overspending. To learn more, give us a call at 302-284-3041 or fill out our online contact form.
