The North American folks spend $215 billion every year fixing up their homes with basement transforms being among those at the top of the list. Folk are looking for methods to expand their living space without having to purchase a new house. Many times it is not possible to build on another room, due to space or fiscal limitations, so the only way to find the additional space they’re looking for is by employing the basement space under their homes with a basement remodel if they’re lucky enough to have any.

It’s estimated that 36% of all American homes have no basements at all implying the other 68% of homeowners do have cellars they could renovate and convert into living space. Of course, if you are one of the folks that is considering a basement remodel because it seems to be the least costly choice, you could be wondering what it is going to cost you to remodel your basement space.

In the once a year report of reworking World magazine back in 2005, the price put on a basement transform, including a mid-sized family room but no bath, was slightly less than $137 per square foot. This figure is roughly $100 less per square foot than it would cost to build a room addition onto a place. Of course, the cellar space is already there and just needs fixing up. It’s no wonder that thrifty homeowners are choosing to finish off their basements rather than adding on to their homes in alternative ways. After all , the majority are on the lookout for methods to get the added space they need without spending an entire lot of cash.

Of course, the price of remodeling your basement will depend on what you’d like to do with the space. Are you planning to cover the walls with sheetrock or paneling, or do you merely paint the current walls? Do you wish to put down carpeting, tile, or hardwood flooring? Is there any structural damage that you need to tackle before transforming the space? Will you need to have wiring and pipes moved before you can address a basement ceiling? The solutions to all these questions, and more, can significantly change the amount you will pay for your renovations.

As you may know, building materials are quite pricey in this day in age, so there’s no such thing as an inexpensive basement remodel. there are corners you can cut in order to get the beautiful space you need without costing a fortune. Buying materials from salvage yards and lumber liquidators could be two options when purchasing the items you need . Doing the bulk of the work yourself is another big money saver.