According to HomeAdvisor, the cost of a basement, based on the national average, is approximately $37,000. This cost includes raising a foundation, installing a foundation, installing a sump pump, sealing the basement or foundation, and installing flooring, cabinets and countertops. Keep in mind as well that actual prices can vary extensively depending on location and materials used.
HomeAdvisor points out that installing a basement can be a gamble for homeowners. When done right, it is be a cost-effective way of adding value to a home. When done incorrectly, it can decrease the value of the home and causes stress for the homeowner. The site also recommends getting all necessary permits and inspections before proceeding to any serious work on the basement.
Another point to consider before beginning the project is how lighting be handled. While egress lighting allows natural light into the space, artificial lighting allows the homeowner to customize the look of the basement through lighting choices.
HomeAdvisor also recommends waterproofing the basement before beginning any serious installations or remodeling as the area may be especially vulnerable to flooding. In order to save money, complete any necessary electrical or plumbing work before the walls and floors are completely finished. Consult with a contractor to establish both a budget and a payment schedule before remodelling and renovation begins.