Congratulations! You’ve decided to invest in your Minneapolis home with basement remodeling. But before you start gathering samples and calling around for estimates, there are a few major considerations, especially regarding cost.
If you’re like most homeowners, the cost of your basement remodeling project is the most significant factor when you’re planning your remodel. But while you may know a wide range of what it’ll cost, what actually affects the price?
Materials, labor, and other factors will obviously impact your budget, but others – like putting up extra walls, integrating plumbing, and rewiring your electrical system – also come with a price.
Understanding the different factors that influence the cost of your basement remodel is important for making a realistic budget. That’s why we at Executive Remodeling have put together this helpful guide.
Materials are among the first things homeowners consider when evaluating their budgets. Choosing materials for flooring, counters, cabinets, and even paint and furniture will all influence the total cost.
While you should never choose low-quality materials just because they cost less, you can make high-quality alternatives if a particular material exceeds your budget for basement remodeling.
For example, if you plan on putting a kitchenette in your remodeled basement and quartz countertops use up too much of your budget, consider high-quality laminate countertops for the same effect. At Executive Remodeling, we use gorgeous, customizable, showroom-quality materials to deliver the remodel of your dreams.
For homeowners who want to turn their basement into a separate apartment, a bathroom will be needed. Additional plumbing is one of the costliest parts of a basement remodel, so you’ll need to budget accordingly.
If you have an older home with an older electrical system, consider rewiring your basement or even your whole home. Depending on your home’s current amperage, you might need a service upgrade to better accommodate your new basement. The cost of an electrician upgrading your home’s electrical system should be factored into your budget.
Having an open-concept basement is not only attractive and opens up the space (especially if your basement is relatively small), but it also costs less. Putting up walls and sectioning off areas of your basement requires a bigger budget than an open-concept design.
Anyone who lives in the Minneapolis-St. Paul area knows that heating your basement is a must. Adding a fireplace, which requires attaching the chimney to your house’s existing flue or creating a whole new chimney, might be costlier than other heating options.
Insulating your basement against the cold is a top priority in your basement remodel. Who wants to hang out in an unheated basement when outside temperatures drop below freezing?
A well-heated basement is key to getting the most out of your basement remodel and enjoying it all year round.
Because designing and ordering everything for your basement remodel takes time and energy, most design-build firms charge extra for change orders if you change your mind about certain aspects.
For example, if you originally wanted hardwood flooring in your basement but change your mind to carpet after the floorboards have already been ordered, it’ll take more time and money to send the boards back and get the carpet ordered right away.
Understanding what you want from your basement remodel before work begins is essential to maximizing your budget. At Executive Remodeling, our spectacular design team will help you design the basement of your dreams before beginning work.
Your basement remodel is a significant investment in your home – so it’s only natural to want the very best. When you choose Executive Remodeling, you’re guaranteed quality products, professional service, and results unique to you and your home.
We don’t do cookie-cutter remodels. We go the extra mile to learn all we can about what you want in your remodel and help find the very best materials to build the basement you’ve always wanted.
If you’re ready for your dream basement, call Executive Remodeling today at (612) 333-5577 to receive your free consultation!