If you own a house and have the option to add a basement, you have no reason not to continue this upgrade. Basements are the perfect way to put together additional space for different purposes: a game room, a home theater, a car garage or just storage space. There are no downsides, except for one big question that comes to mind when you stumble across this topic: how much does it cost to build a basement?
Well, there are certainly some costs involved, but it’s not as expensive as you might think, especially if you know what to look for when starting this process. The good news is that the basement gives your property enormous added value. So if you are ever ready to sell it, the investment will be worth it. It is a long-term investment with a handful of benefits that cannot be ignored.
The cost of building a basement depends heavily on how much work is required to assemble it. The price can range from $ 25 to $ 3 per square foot. It all depends on what materials you choose, how expensive the work is, how much excavation and sanding is required, and other influencing factors covered in this article.
How much does it cost to build a basement? Let’s find out.
Basement costs: what is included?
Image source: Steinhafels
Let’s start with a list of aspects that cannot be overlooked if you are planning to build a basement for your house. All of this is necessary and should be taken into account when determining the final cost:
- How do you ensure sealing and drainage? You need to avoid water-related damage in the long run. Even if good water resistance increases the end cost, it is worth considering.
- What are you going to do with it? An unfinished basement is perfect for storing things you don’t want to rest in the house. A finished one means additional rooms that have an enormous impact on the total value of the house.
- Will it be a walk-in basement? If so, additional costs may arise.
- What kind of basement do you want? The cost of a cellar varies depending on the type. Panel designs are the cheapest, while foundations in some cases can cost more than the house itself.
- Remember that you need to test the floor beforehand. In some cases, soil content can be problematic and require expensive materials. Running a test can cost anywhere from $ 10 to $ 100.
- How deep should your basement be? Depending on the intended use, the depth of the cellar can vary, as can the costs. Digging below the frost line brings with it other problems that need to be addressed – frost protection, exchange damage, and so on.
- The city you live in affects how much work it costs. This is a normal economic aspect to consider before proceeding with this upgrade.
Make it easy for yourself: cellar cost calculator
Image source: Picture perfect house
Once you’ve decided to start digging a foundation, prices start at around $ 10 and rise to $ 20 per square foot. The price depends on the condition of the floor under your house, which you should test before choosing a basement. The equipment used by the excavation team can also affect costs.
When calculating the cost of building a basement, always consider its purpose. Basement foundations are much more expensive than plate cellars, but have an enormous ROI. Again, you first have to decide what you want to do with your basement. The difference is consistent: an unfinished basement can reach a maximum of $ 25 per square foot, while a finished basement can reach $ 100 per square foot.
The lowest price a basement can cost is $ 10,000 and can be around $ 180,000. Basements can be used to add storage or living space to any house. In addition to the obvious advantages, basements can also provide resistance to the house, keep moisture away and insulate against cold. The last aspect is why basements are usually more common in colder areas.
Start right: Build a basement for a new house
Image source: ELM Construction LLC
For new buildings, the cost of building a basement drops significantly to $ 30,000. Most of the expenses relate to excavations, but if you start with a basement plan for the new building, it is much easier and the labor rate is lower. Contractors will work in your favor and find the best deal that includes everything you want to add to the basement. Pay attention to which contractor you choose and there is a significant chance of reducing some costs.
Image source: Hanley development
In poorly built basements, the foundation may need to be changed at some point. You can see how much it costs to build a basement, but there is no way to predict what repairs will be needed in the future. The only way to stay away from uncomfortable situations is to make sure that the basement is well built from the start. A badly designed foundation will eventually tear and repair costs can be higher than completely rebuilding the basement.
If you are building a new building, make sure that the basement plan is put together carefully. Keep an eye on the contractor and double check if details have slipped. Examine the foundations of existing buildings and check for signs of damage.
Image source: Cypress Hill Development LLC
Cracks are the most obvious and dangerous signs and leaks. All of this requires repairs that should be done as soon as possible to avoid further damage. Foundation repairs can range from $ 400 for light cracks to $ 11,000 for cracks, which can affect the overall resistance of the structure of the building.
Unmanageable repairs require the reconstruction of the basement or structural changes. The cost varies from $ 20,000 for minor changes to $ 100,000 for major changes – all in addition to the initial cost of the basement.
Finally, complete a basement
Some people prefer to leave the basement unfinished and finish it on another occasion. If this is your situation, the cost to complete the basement can range from $ 25 to $ 50 per square foot on average, and from $ 90 for fancier results.
For an average size fully completed basement, the cost would be approximately $ 30,000. The price is reasonable, considering that a finished basement can add many rooms to a house. The costs vary depending on the flooring, wall covering, plumbing, lighting, etc.
After learning how much it costs to build a basement …
Image source: Meriwether Inc.
It may seem expensive and involves a lot of effort, but building a basement always offers an enormous return on investment. Selling a home with a finished basement is faster because home buyers prefer this feature to the detriment of homes that require upgrades. Basements create more living space without spending thousands of dollars on a new house.
The benefits are numerous, so the costs are justified regardless of the purpose you are trying to achieve. Knowing how much it costs to build a basement is just the first step in a long research journey that will ultimately lead to a decision. Good luck!
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