The Costs of Basement Finishing: A North Hollywood REALTOR’s Advice

Not all unfinished basement spaces are candidate for finishing, said Michael Gentile, a North Hollywood REALTOR and home remodeling guru. Basement finishing cost starts at $100 square feet. The cost can go up depending on the amount of finishing that’s need to be done.

Determine the Building Code

Image via WikipediaInternational Residential Code (IRC) mandates that basement living spaces should be 7 feet high, with some exceptions for basements with exposed structural beams, etc. If your basement does not meet the specifications, you must either reconstruct upwards or downwards, and neither is cheap. Each reconstruction will cost you $20,000 at the minimum.

Adding a Staircase

IRC states that the staircase from the main level to the home basement should have adequate tread, width and riser dimensions, and a handrail. 6 feet 8 inches of headroom at every point is required. Stairway not having 36 inches width or steps will have to be rebuilt, roughly totaling to $2,000.

HVAC and Moisture Problems

You can either hook to HVAC main trunks and bring in some vents for $1,000 or upgrade the whole heating and cooling systems for $7,000 to $15,000. Consult your contractor for your existing system’s capacity and building code requirements.

For moisture problems, you may need to fix the yard to redirect water away from foundation. Waterproofing walls and floors and installing drains surrounding the foundation add more thousands to the expenses.

Emergency Egress

IRC mandates that at least one window or door (5.7 sq. ft with windowsill at least 44 inches above the floor) for a person to get is a must in a basement. A basement bedroom must have its own emergency egress.

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