There are several good reasons to renovate the basement in your home, whether you’re hoping to maximize the functionality of an existing space for your family or create a specialty area such as a gym, game room, or wet bar.
By transforming your basement into a useful, inviting space, you can further enhance the appeal of your home and increase its long-term value. This transformation doesn’t happen overnight. It requires a significant investment of time and money, which may leave you trying to decide whether finishing your Delaware basement is worthwhile.
As with most home improvement projects, the cost of remodeling your basement in New Castle County will depend on a variety of factors, including the current size and condition of the space and how you envision using it in the future.
When finishing your basement, you can choose a number of different features to add, all of which will impact the price. The cost of your basement remodel also depends on whether you’re starting with a completely unfinished basement—which may lack a ceiling, insulation, and proper utilities—or if you’re simply renovated your finished basement to support a new function.
In general, the average cost to finish a basement per square foot is between $50 to over $300 per square foot. Depending on the scope of your project, plumbing, framing, and other elements involved.
For a 1,000-square-foot basement, your basement remodel in Delaware will likely cost between $50,000 and $150,000, depending on whether you choose a basic-, mid- or upper-level renovation. To remodel or finish a 1,200 square foot basement with upscale finishes and elements like a bar, new bathrooms, bedrooms, and living spaces, expect to invest $150,000 or more.
To give you a better idea of what to expect price-wise to accomplish your specific vision, below are a few popular basement remodeling projects and their average costs in Delaware.
For most basement remodels, a portion of your budget will involve the upfront work, which includes space planning and layout design, the services of a dedicated project manager, and all labor and materials. The cost often does not cover demolition, adding egress windows, or your permitting fees, which will need to be factored separately into your overall project price.
The cost to build a basement wet bar is an average of $25,000, although some custom bar projects can exceed the $50,000 price point. This price encompasses countertops, cabinetry and storage, shelves, lighting, plumbing, electrical wiring and outlets, refrigeration units, a sink, and design fees.
Like installing a wet bar, building a bathroom in your basement is a more complex project because of the type of fixtures and electrical wiring and plumbing that are often involved. On average, the cost of adding a bathroom to your basement is about $45,000 to $60,000 or more.
Another popular use for a finished basement is a home theater or media room. Taking into account the cost of acoustic materials, risers, seating, quality carpeting, and a full audio/visual setup, you could pay about $30,000 to $60,000 to convert a basement into an upscale home theater.
You also could choose to turn your basement into a full-blown in-home apartment or in-law suite. To create a completely outfitted living space for a relative or tenant, you will need to add space for a bed, as well as bathroom and kitchen facilities. Typically, the cost for an in-law suite in a converted basement is about $150,000 to $250,000 or more.
Converting your basement into a home gym may be one of the cheaper options because it doesn’t require a bunch of fancy features or new plumbing. You just need a well-ventilated, comfortable environment with the right type of flooring and equipment to accommodate your particular fitness routine. The cost to professionally convert a basement into a gym is generally between $20,000 and $35,000.
For many homeowners, the basement is an uninviting, uninhabitable space that is hidden beneath an otherwise comfortable home. It rarely or never gets used—making it virtually wasted space. Instead of neglecting or forgetting about your basement, you could turn this area into an entertainment room, extra bedroom, playroom, wine cellar, art studio, home gym, or even a sub-level garage, any of which are worth the estimated basement finishing cost.
When weighing cost versus benefit, it’s good to note that finishing a basement tends to produce an approximately 70% return on investment (ROI), because you’re functionally creating more livable space on your property. The ROI for a basement remodel depends on what new type of room you create, ranging anywhere from about 55% for installing a basement bathroom to significantly more for a complete in-home apartment.
Additionally, there is value to be gained beyond a tangible ROI. With a well-planned basement remodel in Delaware, you can create a haven of higher functionality and style that offers more space to entertain, house visiting family members, or efficiently store items, while also reducing moisture and rot problems. This additional residential space can make it feasible for your family to remain in your beloved home and community in New Castle County instead of having to move elsewhere as you grow in size or your needs change.
There are many reasons to finish a basement in Delaware! If your basement is a damp, dark space that serves mostly to hold your furnace and boxes of seasonal clothing, your home could benefit from a basement remodeling. Below are some reasons to remodel your basement.
Any time you are considering a basement renovation or transforming an unfinished basement into a habitable space, it is best to consult a qualified contractor who does basement remodeling in Delaware. After all, you want to make sure you maximize your ROI and end up with the new room you envisioned from the start.
Bromwell Construction Company offers a number of different basement remodeling services that range in cost so that you can select the option that best suits your needs and preferences. We’ll walk you through the basement remodeling process to ensure you’re prepared. From basic renovations to complete transformations, we can provide an individualized estimate and other valuable insight to steer you toward the right renovation and help you accomplish your personal goals for this special space. Contact us today to get started with an estimate. We service homeowners in Wilmington, North Wilmington, Greenville, Hockessin, Brandywine, Pike Creek, Newark, Bear, New Castle, Middletown, Sussex County, Kent County, and more.