9 Steps to Finishing a Basement

In need of more livable space within your home? Finishing a basement can greatly add on to the functionality of your home’s footprint, providing you with extra space to play, work, and relax without requiring a structural addition. It can also add significant value onto your home.

Of course, finishing a basement is not without its challenges. There are a lot of steps involved in the process, and lots of potential snags to hit along the way. Whether you’re planning on doing it yourself or hiring a pro for the job though, having a good idea of what goes into finishing a basement will help you plan out your remodel and set your budget. It can also help you get a big picture idea of what type of project you’re up against.

So how do you turn a slab of concrete into a functional living space? Here’s what you need to know.

How Much Value Does Finishing a Basement Add to a Home?

Let’s start by talking dollars and cents. You can recoup about 70% of your costs on a midrange basement remodel, according to Remodeling Magazine.

It costs an average of anywhere from $6,000 to $18,500 to finish a basement depending on its size, location, and features, as well as whether you go the DIY route or bring in a pro. At a 70% return rate in home value, that means that for every $1,000 you spend on your basement remodel you should get about $70 back in return. This is higher than the return you get for other costly home projects, including major midrange bathroom and kitchen remodels.

The Step-By-Step Process to Finish a Basement

Finishing a basement is a large job with a lot of payoff. Below are the steps it will take to turn a standard concrete basement into a finished, livable area. Note that your specific project may include some extra steps, especially if you are planning to add in a bathroom, bedroom, or closet(s). Also keep in mind that most people choose not to finish the section of their basement that houses their furnace, water heater, and other major systems, opting instead to just frame it off.

Apply for a Permit

Clean it Out Entirely

Test for Moisture

  • Insulation
  • Drywall
  • Flooring
  • Paint