Finishing your bungalow basement to maximize your living and storage space potential can add to the value of your property - and lifestyle! Basements can be great locations for family activities and entertainment (perhaps a bungalow bar), or to house an aging parent.

Finishing an existing space like a basement is also much more budget-friendly than adding a new structure onto your home. On average, you can figure that a remodel will cost anywhere from $30,000 to $60,000, for a 20 x 30 foot area. As an example, this would include a large family/entertainment room, a full bath and an auxiliary room. It will also include full insulation, a laminate floor, cabinets, countertops, a bar sink, under-counter refrigerator and lighting. Here is a breakdown of the cost structure of finishing a basement:

  • Square footage (more square footage results in higher cost)

  • Labor (more square footage requires more labor)

  • Adding a bathroom (minimum $5,000)

  • Providing exit from the basement (besides the stairs that lead up to rest of home)

  • Flooring (minimum $1000)

  • Here is an excellent basement finishing cost guide

There are many important factors to consider for any good basement finishing effort. We have outlined several of the most important factors below as a primer on basement refinishing (and a great way to prep when hiring a contractor). While anyone can finish a basement, not anyone can do it well. CBA recommends hiring a trusted architect and/or contractor to ensure all design variables are addressed safely, efficiently and Code compliant. 

  • Space for mechanical equipment, utility spaces and storage

  • Basement water issues

  • Building Code Requirements

  • Heating

  • Materials & finishes

  • Cost

  • Hiring a contractor

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