How Much Does It Cost To Finish A 1,500 Sq. Ft. Basement: Let’s Break It Down!

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The expense of finishing a basement varies greatly based on the project’s size and complexity. But it’s like a long-term investment. So make your choices wisely.

How much does it cost to finish a 1,500 sq. ft. basement?

A complete basement finishing system will cost around $50,000 – $60,000. Wall, ceiling panels, and a comfy ground surface are included as well. If you want insulated wall panels, it’d cost $4.75 per square foot.  Before the area is finished, it’ll require some finishing touches. A professional crew can finish a basement in roughly 45 days.

We’ve created this piece to help you decide how you want to do your basement. Along with an estimate for each scenario. We also offer hints for maximizing the return on your investment.

Sounds about right? Then hold on to this wagon and don’t let go till the end!

Cost To Finish A 1,500 Sq. Ft. Basement Calculator

You can calculate your costs from here:

ItemBudgetStandardLuxury
Couch$800$1,300$1,700
Loveseat$400$800$1,500
Recliner$250$500$800
Coffee Table$80$170$800
Side Table$60$110$500
Bookcase$250$450$800
TV Stand$150$300$650
Football Table$400$650$1,200
Pool Table$1,800$2,800$2,500
Bar Cabinet$400$775$1,500
Bar Stool$20$50$250
Toilet
Pressure Assisted Toilet$125$250$500
Up- Flushing Toilet$250$400$1,300
Sewage Ejector System$940$1,300$4,400
Composting Toilet$200$600$1,100
Showers
Fiberglass And Tub Combinations$80$1,300$1,800
Shower Stall$800$1,300$1,700
Fixtures
Sink Faucets$150$450$750
Showerheads, Faucets, And Shower Panels$100$400$1,000
Light Fixtures, Scones, Shower Lights$50$250$1,000
Mirror$40$100$160
Vent
Fan$80$150$400
Installation$250$500$800

Cost Estimates: Finishing A 1,500 Sq. Ft. Basement

A finished basement can enhance the value of your home. And such a project requires a big investment of time and money. Thus, many homeowners wonder how much it costs. Figuring out the cost of finishing a basement is quite similar to figuring out the cost of building up or building out. But there’s no easy answer. 

The average cost to complete a 1,500 sq. ft. basement is $50,000 – $60,000. This is the national average which varies with every decision you make. Generally, for open plan basements, it costs you around $48,000. For 2-3 rooms, you might have to spend around $68,000 – $70,000. If you want to do it yourself, it’ll save you a figure of $24,000.

The cost of completing a basement varies hugely on the size and scope of the project. For 1500 sq. ft., we’ve figured out the following figures:

OperationOpen PlanWith Rooms
Framing$1,235$2,612
Trim$385$816
Drywall$1,975$4,180
Plumbing$200$200
Wiring installed$1,200$2,543
Electrical panel$920$920
Ceiling$2,165$2,165
Flooring$1,350$1,350
Doors$70$276
Fridge and Stove$1,380$1,380
Bathroom$2,875$2,875
HVAC 1.5 Ton$1,955$1,955
Insulation$5,177$7,932
Egress window$690$1,380

The approximate price points are based on the cost of labor plus any materials needed. Prices are per linear foot of finished space. Each basement is unique, but our figures will give a rough idea for your space.

Our estimates don’t include the cost of any structural changes necessary to complete your project. This will provide a general ballpark estimate for what it might cost to finish the project. Including finishing that you might do yourself.

Such as spending extra money on stairs that meet the code and making your stairs non-slip. And also electrical outlets in each room (about $3,000 to $6,000).

Budget Allocation For Different Parts Of The Basement

It’s better to estimate all the costs and factors you’ll need to cover for this project. So let’s see how we can break the factors of expenditure.

Design Cost

Interior designers charge roughly $7,250 to help turn your basement into a usable living area. Depending on the extent of the job, they may charge $5 to $15 per square foot or $50 to $200 per hour. The first session to examine what you want to accomplish with the area might cost up to $500.

ItemAverage Cost
Couch$1,300
Foosball Table$650
Bookcase$450
Coffee Table$170
Side Table$110
Pool Table$2,800
Loveseat$800
Tv Stand$300
Bar Stool$100
Recliner$500
Bar Cabinet$765

The sky’s the limit depending on how you want to use the area. The furniture’s quality is also important.

Labor Cost

Finishing a basement costs an average of $16 per square foot in labor. Alternatively, roughly 30% to 40% of your renovation project. On average, it costs $10,000 – $12,000 to complete a 1500-square-foot basement. 

Carpenters, electricians, plumbers, and general laborers are all included in this category. The bigger the expense, the more skilled assistance you require. A master carpenter or electrician, for example.

Framing Basement Cost

The average cost of materials to frame a basement is $1 per square foot. And also $2.70 to $3.39 per square foot for drywall that’s ready to paint.

A wood framework is installed while framing an existing basement. Which is a part of the insulation packing, wiring, and piping process. All of them are put between the wall and the drywall layer.

Framing Basement Walls

The cost of framing basement walls with 2′ x 4′ wood is around $2.50 per square foot. When constructing inner basement walls, use a wood frame to frame the concrete walls.

It’s the very first thing you do, and it’s also the most commonly utilized framing material. The frame will be attached to the floor and extend about 3″ from the wall. In preparation for the drywall, studs will be fastened to the boards.

Insulating Basement Walls

The temperature and moisture will be better controlled with insulation. It can be used as an extra soundproofing agent. Spray-applied closed-cell foam insulation costs between $700 and $4,000 per cubic foot. Or $32 – $80.50 per inch of thickness sprayed

Basement insulation is best done using foam. Because it’s not permeable to air. As a result, condensation will not form between the insulation and the concrete walls.

Drywall Cost

The cost of drywalling and finishing a basement begins at $1.60 per square foot installed. Joint tape, mud/compound, and sanding are all examples of this. The number of walls in your basement layout determines how much drywall you’ll need. 

You’ll need to pay roughly $1,800 for an open-plan basement. If you want to add rooms, you’ll need to budget roughly $4,000.

Add the widths of each wall together to figure out how much drywall you’ll need. After that, you’ll calculate the entire perimeter and divide it by 4′ (panel width). You’ll be able to calculate the total number of panels required this way.

In a basement, moisture-resistant drywall is better. And their prices range from $11 to $25 per conventional panel. If you don’t want to use this, you can use wood planks, plastic panels, or plywood.

Ceiling Cost

The typical cost of installing a basement ceiling is $3.50 to $4.30 per square foot. When putting in ceiling joists and R-11 insulation batts, as well as ceiling drywall.

In most cases, extra equipment is required for optimum working access. 12″ drywall on walls, for example, costs $1.13 per square foot. Ceilings using 12″ drywall cost $1.35 per square foot.

Installing tongue and groove wood or tile panels and plates on your ceiling will cost $2.59 – $4.88 per square foot.

Depending on how thick you want the coverage, spray popcorn on the taped walls for $0.34-$0.70/sq.ft.

Texture may be added for $0.33 to $0.89 per square foot, with a troweled look costing the most.

Flooring Installation Cost

The cost of scoring and polishing the existing concrete floor in the basement is $2 per square foot. While epoxy basement floor coating might cost up to $3 per square foot. Also, epoxy is very good for garage floors too.

Install wood flooring joists for $1.74 to $3 per linear foot installed for other floorings. Also, installing plywood flooring costs $0.99 to $1.49 per square foot.

Consider placing steel floor joists in your basement since it’s prone to moisture problems. But you can consider good-quality wood for your stairs and floor. It adds an aesthetic look to your basement. For a total of $4.08/sq. ft., cross-bridging and board sheathing are also included.

A brief of the costing for the flooring is portrayed below:

MaterialCost Per sq. ft.1,500 sq. ft.
Carpet$1$1,353
Polished Concrete$2$2,707
Epoxy Paint$2.5$3,384
Ceramic Tile$2.5$3,384
Porcelain Tile$3$4,060
Vinyl or Linoleum$3$4,060
Laminate$6$8,121
Engineered Wood$6$8,121
Bamboo$7$9,474
Hardwood$10$13,535

You must’ve noticed that the costs don’t stay with the rates as you’re doing a large project. It’s very normal. Sometimes you’ll save and sometimes you’ll have to spend more.

Room Finishing Cost

A subterranean living room costs an average of $19,000 to complete. While a tiny 12×12 room costs $4,600 to $6,800. If the rough-in plumbing is already done, a bathroom or kitchenette will cost at least $3,000.

A bedroom, according to real estate brokers, must include a closet, door, and window. Which is also advised by property appraisers.

The costs and layout of a basement room are shown below as an example:

RoomSquare FeetCost
Living Room480$18,930
First Bedroom168$6,626
Second Bedroom154$6,073
Third Bedroom176$6,941
Bathroom72$2,840
Hallway40$1,538
Kitchenette80$2,840

These costs will differ as your preference of the sizes you want to keep for these rooms.

Bathroom Cost

It costs roughly $49,000 to finish a basement and add a bathroom to its plan. The average cost of adding a bathroom is $15,000 for a modest 30 to 50 square foot addition. A deluxe installation of 100 square feet with spa-like elements may cost $90,000.

Knowing how you want to use the space can aid in the creation of the ideal bathroom. In a leisure room, workshop, or children’s play area, a half-bath with a stool and sink works nicely. A complete bathroom complements a basement with a bedroom or en suite.

Do you, for example, have enough space to install a bathroom? 40 square feet is required for a complete bathroom with a tub/shower combination. Only 30 square feet are required for a half-bath.

Creating a bathroom with a separate water closet might take up to 100 square feet. Making pop-up drains for your bathroom faucets can bring you extra benefits. Here’s what we have found:

ToiletsPrice
Pressure assisted toilet$125-450
Up-flushing toilet$400-1,300
Sewage Ejector System$940-4,400
Composting Toilet$200-1,100
ShowersPrice
Fiberglass and tub combinations$1,070-1,180
Shower Stall$820-1,720
FixturesPrice
Sink faucets$159-750
Showerheads, shower panels, and faucets$100-1,000
Light fixtures, scones, shower lights$50-1,000
Mirror$40-160
VentPrice
Fan$80-400
Installation$250-500

These were the basic concepts you’ll need for finishing a basement that size. However, there are other additions that you can consider. It’s a long-term investment, so why not make it as comfortable as possible.

Cost For Additional Rooms

Consider converting the area into rooms that you require and designing the space effectively. It helps the area to become comfortable and productive. Here are some additions you can consider for your basement.

Mini Gym

What do you think about keeping a set of gym equipment in some corner? Sounds about right? Just bring in simple types of equipment. Like a treadmill, yoga mats, bike or spinning machine, punching bags, and a few weights. It should not cost you more than $600 – $1,000.

Basement Kitchenette

The average cost of installing a kitchenette in your basement is $45,600. The cost of cabinets, ranging from $500 to $7,500 per five linear feet, is included in the total. It also provides pricing for installing countertop 10 square feet that range from $250 to $1,200

Installing appliances accounts for the majority of the expense, ranging from $1,675 to $23,600. Costs for plumbing, electrical, and sink installation are also included in the project total.

The fact is that many of the amenities are the same. However, the overall cost is less than that of a full kitchen extension. Because of its significantly smaller size, of course. A kitchenette takes up around 70 square feet. While an expansion takes up approximately 200 square feet.

Workshop

People sometimes avoid woodworking because they believe it requires a large garage or workplace. However, a modest hobbyist woodworking shop may be set up in any location. Even if it’s in the basement. 

It only takes a little planning and preparation to create a small workshop. A simple workshop of 100 square feet costs $3,000 to $20,000 to set up. Alternatively, $30 to $200 per square foot.

Game Hall

Install a game system and include everything a teenager could desire. Such as food, a powerful sound system. Also enough storage for headphones, controllers, and speakers. You can set up a classy setup with $6,000 to $12,000.

Home Theater 

Basement home theaters are becoming increasingly popular. Install all speaker and subwoofer wire underneath the subfloor. Make room for reclining seats and snack tables in your design.

These were just some ideas that you could put into your planning. It will make your basement more artistic and splendid.

Cost For Additional Basement Renovation

Sometimes, there’s some extra work that you need to take care of before or during the process. These can trouble you in the future if you don’t take care of them right away.

Foundation Repair

Foundation repairs typically cost between $2,320 and $6,750 for most properties. The cost of substantial repairs requiring hydraulic piers might range from $10,000 to $15,000.

Plumbing

Small plumbing repairs, such as unclogging a sink or cleaning a drain, range in price from $75 to $250. Larger jobs, such as repairing a water heater or sump pump, cost $500 to $800.

Electrical Overhaul

Repairing or installing outlets, fans, switches, or lights costs between $141 and $419. While major electrical repair, such as replacing a service panel, might cost anywhere between $2,000 and $6,000.

Mold Removal

Mold cleanup costs an average of $2,330. Most homeowners pay between $1,500 and $3,150, or $15 to $31 per square foot. A minor mold removal job costs between $500 and $1,500 on average. A larger project will cost between $3,000 and $6,000.

Asbestos Removal

Asbestos removal costs range from $20 to $65 per square foot on average. The average homeowner spends between $1,210 and $2,820 on their property. Siding, tiling, insulation, ceilings, and piping abatement for the entire basement may cost anywhere from $15,000 to $30,000.

We hope you took this part with importance!

Timeline To Finish Your Basement

It’s very obvious for you to feel lost with so much at hand. Lucky for you, we’ve created a timeline so that you know what to do. The following table will show you which task to do during which stage. And also how many days you’ll have to keep for each task. So have a look:

WeekEstimated DaysTask/s
Week 12Framing
3HVAC, Plumbing, Gas setting, Electrical rough-in
1-2Drywall, insulation & inspection
Week 22Hanging drywall
5-6Texturing, taping, and mudding drywall
Week 32Installing doors, windowsills, trim, fireplace mantle
5Painting
Week 41Installing lights and electrical trim, and HVAC trim
1-2Shower and floor tile replacement
1Installing door frame and knobs and cabinets
1Masonry at fireplace and countertop templates
1Mirrors and interior glass shower door
Week 51Drywall touchup.star fireplace and finish setup
1Countertop installation
1Install external shower door & mirrors, plumbing trim
1-2Carpeting the basement floor
Week 63-4Any additional attachments
1Final Inspection, overall painting touch-ups
1Final cleaning and walkthrough

With this, we’ve also completed all the aspects you need to care about during this long-term project.

Tips To Minimise The Costs

Although it’s a big project, there are ways that you can save a little money. And use this to add any special touch as we mentioned above-

Research

Do your homework before starting a basement finishing project. This includes looking up comparable homes in your area. And getting quotes from many contractors. You should also check with your local government. That is to make sure you’re aware of the permission and inspection procedures.

Hiring a Contractor

Check to see whether a contractor has at least 5 years of experience before hiring him. Inquire whether he’ll provide a labor and material warranty. It’s also essential that they provide precise start and finish dates.

Stylish and Budget-Friendly

Consider using mid-grade materials and the usage of space in the future. Choose less expensive solutions for items that will have no negative long-term impact. 

It’s not a good idea to cut corners by using low-quality building materials. You might, however, choose from a variety of low to mid-priced light fixtures, switch plates, etc.

Prepare and Track a Timeline

Prepare a timeline for yourself as we’ve shown one for you above. List the things you want to do or add to your basement. This will also help you to avoid unexpected expenses. Keep track of all costs related to your project in a spreadsheet. Regularly deduct them from your budget categories.

Do It Yourself

We’ve mentioned somewhere near the start that DIY techniques will save you a lot of money. For a basement size like this, you’ll be able to save $20,000 – $30,000. But it will take you a lot of time. Again a project of this size can’t be executed fully with DIY options. But certain things don’t require the pros so you have to choose between time and money here. 

Following these will surely save you a big portion of the money. And also save you from unexpected expenditures. Also, if you ever need to renovate your basement in the future, you’ll not need major expenses.

FAQs

Question: How long does finishing a basement take?

Answer: From start to completion, a basement usually takes 4 to 8 weeks to complete. Permits must be obtained before the start of construction. But the time also depends on the size of your basement.

Question: How much will I need to spend if I convert my basement into my bedroom?

Answer: The cost of turning your basement into a bedroom is around $22,200. To maintain the area up to code, you’ll need to pay around $3,900 for an egress window. After that, you just add drywall, flooring, and any other finishing touches you choose for a bedroom.

Question: How much will it cost to waterproof my basement?

Answer: waterproofing your basement can be a great idea. Sheeting for waterproofing systems costs $3.50 to $6.50 per sq. ft. or $6,000 overall.

Winding Up

That’s all folks! We hope you now know how much does it cost to finish a 1,500 sq. ft. basement.

Till then, keep on building your dream!

Richard Allen