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I am thinking of finishing my basement. I live in Lynn, MA and it is roughly 600sq feet in size. In order to save cost, I am only thinking of finishing about 450 – 500sq ft of the basement. I received one quote from a well known basement finishing company for about $28k for 500sq ft of space. I received another quote of about $24k for finishing 450 sq ft. In both estimates, the price includes materials and labor, permits, framing, electrical, walls (I am not using drywall, but removable panels), drop ceiling, lights, and flooring. It does not include paint and for the cheaper estimate, it does not include carpet leading down to the basement. I was quoted about $600-$800 extra for the carpert.
More and more people have started to work from their homes, and those who don’t end up taking their work papers to their homes to finish them. Having a peaceful area in the home that you could use when you need to concentrate would be pretty great, so you may think about the possibility to remodel your basement into a home office. You can decorate the basement in such modern and contemporary ways and you will have a place in the house that will increase your productivity and motivation.
Mind you, my grandparents did this without having to finance it. When the banks get involved they have rules of their own. Getting a mortgage is more difficult these days and I doubt any bank would finance a basement only” house. The way they look at it, they need to be able to sell it if you default (not that you would, but that’s how they look at it) and they would never be able to sell a basement with no house. Of course, I could be totally wrong but talk to mortgage specialists to see if your idea is going to work from that angle.
At Buck Buckley’s Total Basement Finishing , our mission is to provide you with responsible basement finishing from our certified, trained professionals, at a fair price, while providing the best customer service in the contractor industry. Our contractors proudly serve the greater Milwaukee area, including Rockford, Milwaukee, Racine, Kenosha, Waukegan, Waukesha, Sheboygan, Fond Du Lac, Crystal Lake, Algonquin, Buffalo Grove, West Bend, Mchenry, Gurnee, Mundelein, Menomonee Falls, Grayslake, Lake Villa, Zion, Highland Park, Franklin, Oak Creek, Libertyville, Belvidere, Oconomowoc, Burlington, Woodstock, Deerfield, Round Lake, New Berlin, Lake Zurich, Brookfield.