Typical Cost to Finish a Basement???

[Sebae again]

3 is very fair,2 wants to put 5k in his pocket for a few phone calls and visits and 1 probably has a Hummer in his garage. If this is in a project you could be your own contractor by talking to some of the trades people.If guys are on site sometimes they will work after hours or weekends to make some extra money at a decent rate.

[toxic111]

Prices can very among all contractors, it depnds on what you want, and what the contractor provides.

Without proper drawings, specs, permits, its hard to comment on all the prices.

I am doing my basement myself, and I doubt I will get it all done for under $5000, flooring alone (carpet) is around $2500... it don't take long to add up.

5 years ago we used to budget $40/ft2, but that number is up to $60 or more.

[VFX]

Differences between quotes 1, 2 & 3...

1 - finish will include cheaper trims, moldings & bathroom pieces than main levels. Plumbing & electrics for kitchen suite add $500.

2 - finish will be exactly like that on main levels with crown moldings, wide trims around doors & openings & same quality bathroom furnishings as main levels. Not authorised for a suite so the developer will not plumb or fit electrical to enable a kitchen to be installed.

3 - finish will be include cheaper trims, moldings & bathroom furniture than main levels but will include all plumbing to be ready to fit a full kitchen if I wanted to turn it into a suite suite.

Developer 1 is a well known 'high end' developer. Usually does million dollar houses rather than 'regular' stuff.

Developer 2 is a large scale developer & this would be one of their more prestigious developments so they don't want to finish the basement to 'less than perfect' levels (they want to charge more money for it in other words)

Developer 3 - is a small time developer who mucks in with the building of his properties. I visited the site 3 times & he was there covered in building grime all three times.

No fire place in any of the quotes.

It's hard to get the plans from the developers with full specs.

I'll try & get some basic plans.

But from what I can see from your replies, the quotes all seem in teh right ball park.

.

[Pazil]

You will always find a big difference in price between having a homebuilder complete the basement at the time of development and having a renovator complete your basement after possession.

The builder will ALWAYS maintain a certain margin on a home.... and it is cheaper for them to have the same trades people who are already there work on the basement.

A renovator will always charge more. More often than not this amount will be close to 1.5 - 2x what the builder charges. As you can imagine the builder is buying the materials cheaper, the labour will be cheaper (guys and tools are already there). Additional permits must also be pulled (electrical, plumbing, and development).

If you can swing it I would always have the builder complete this for you. As stated above not only will it save you money but it will also be covered under thier warranty.

As for people developing thier basements for $5K themselves... Not sure what is being used or where they are getting thier materials but speaking as someone who owns a renovation company I really can not see this being realistic. I completed 7 basements last year and the average cost for a modest basement development is just over $16/sqft. including a bthroom. This figure does not account for wages, insurances, permits, workers comp, profit, overhead..... etc.... etc... etc... Most of the time the flooring ( tille and carpet and install) will just pop that $5k buget alone.

Cheers and I hope this helps,

Lawrence

[toxic111]

Being designer by profession, and have been a builder as well, I would finish the basement to the same level as the main floor. Trust me, this is something you will notice, and future owners will notice.

I have been in many new houses with poorly done basements, and they look like, remember the basements of the 70's??

You can save some $ in the bathroom fixtures & flooring, but keep trims & door styles the same, which is what people notice.

If you have some specific questions, shoot me a pm...

[StirCrazy]

number 2 is your best one, he won't do anything ileagal, which means he is probably getting proper permits and is worried about his reputation, if it isn't zoned for a suite and thew others will put one in, you have to wonder about there integerity.

Steve

[chevyjaxon]

Originally Posted by mark

For our new place 3 years ago was getting quotes in around $20K.

After seeing a house a buddy had bought where the previous owners had just kicked over in excess of $20k for a crappy build, then all those Holmes on Homes shows, figured I'd do mine myself.

And a comment about the Home Warranty program, what a joke.

+1 very nice house mark has too

[VFX]

Thanks for the replies everyone & thanks for the offer toxic. Are you an Interior Designer?

Pazil - your $16/SqFt amount. That's just for materials I take it?

I think it's all coming down to options 1 or 2.

Still working on getting some plans.

.

[Pazil]

Originally Posted by Pazil

I completed 7 basements last year and the average cost for a modest basement development is just over $16/sqft. including a bathroom. This figure does not account for wages, insurances, permits, workers comp, profit, overhead..... etc.... etc... etc...

Material costs ONLY...


Cheers
Lawrence

[VFX]

Originally Posted by Pazil

Material costs ONLY...


Cheers
Lawrence

So total costs would be roughly $16 + ($16*1.5) = $40/SqFt ?

Roughly $4000/ 100 Sq Ft?

Approx. $32,000 for a 800 Sq Ft basement?

I guess getting the developer to do it is definitely way cheaper.

.