In the Twin Cities area, basement remodeling often falls into one of two categories: older homes and newer homes. When referring to “newer” homes, it’s in reference to those homes built from the 1990’s to present time, and these types of remodeling projects are often the least complicated. The basements were built with a finished room in mind.
For this type of project, you’re looking at an average cost of anywhere between $67,000 and $78,000 for a 20’ x 30’ entertaining area and a 5’ x 8’ full bath. What you get for this price typically includes:
For the entertaining space:
- 25 feet of framed walls to enclose the mechanical room
- Electrical wiring to code
- 12 recessed lights
- 4 surface mounted lights
- Minor plumbing for bar area (Price assumes plumbing was roughed in when the house was built)
- Insulation of exterior walls
- 4 six panel painted doors
- Laminate floor or carpet
- 10 linear feet cabinets in the bar area
- Laminate countertops in the bar area
- Stainless steel sink
- Small under the counter refrigerator
- Door trim
- Floor trim
For the full bath:
- Framing walls
- Electrical outlets and fan
- Minor plumbing modifications (Price assumes plumbing was roughed in when the house was built)
- Fiberglass shower surround
- Shower fixtures and shower head
- Standard toilet
- Shower door
- Resilient vinyl floor
- Recessed medicine cabinet
- Cultured marble top
- Towel Bars
- Toilet paper holder
- Light fixture
- 5 panel painted door
- Door handle
Of course, higher-end basement remodels, with multiple bedrooms, fireplaces, theater rooms, and game rooms, can significantly exceed these average costs. But that’s a discussion for another time.
As far as basement remodeling in older homes (or those homes built between the 1930s and 1990s), the project can be a bit more challenging. This is largely due to the plumbing, electrical and heating, which is often in the way and needs to be either moved or built around.
Plus, the plumbing and heating isn’t already set up for a basement finish and will require installation — not to mention, the need for an electrical panel upgrade.
This translates to a higher price per square footage. However, most of these older homes are smaller, so the overall cost for the entire project is not significantly more than the average cost of the same project in newer homes.