Basement Finishing & Remodel Cost

Applicable for Northern Illinois & Southern Wisconsin

Rough Averages:
  • Basic: $65K
  • Average: $85K
  • High-end: $110K+

Table of Contents

What a Basement Remodel Can do for you

Looking to create a new functional and comfortable space in your home? A basement remodel may be just what you need. With a basement remodel, you can create the perfect space in your home for your own privacy, to relax, and a whole lot more. 

If you’re looking for additional space in your home, consider a basement remodel. Turn the basement into an extra room that you or your family can enjoy. Depending on the size of your space, you can convert your basement into a home office, game room, home gym, hobby room, or home bar, and more! The possibilities are endless!

  • An extra living space or bedroom for guests, family, or friends
  • A basement bar to host and entertain friends 
  • A kid’s play area that will provide an outlet for their extra energy

A finished basement is a beautiful thing in Northern Illinois IL but, converting your unused basement into a livable space is a complex affair. It’s best to use an expert licensed & insured contractor to handle the basement refinishing.

The Value of A Basement Remodel

If you’re looking to improve your home but are worried about the return-on-investment, don’t fret. According to Remodeling Magazine, which has been offering returns data on popular home improvement projects since 2002, a midrange basement refinish will fetch a recoup of 70% on your spend. This estimate assumes that the project includes exterior wall insulation, painted drywall for the walls and ceilings, painted trim, tile flooring (the works, but nothing overly luxurious) as well as a bar, bathroom, and main area.


Homes with finished basements are worth more than those without, and the value add varies by the finishes you made and the materials used.

Average Cost to Finish a Basement

There’s a chance you’ll find basement remodeling prices online that aren’t accurate. There’s a lot of “affordable” averages on the internet, but they can be misleading since these basement remodels are often only mediocre or passable in quality. Rather than cheap builds, you get a high-quality one with Decked Out Builders. It’s your home and your shelter so you’re better off investing in a high-quality basement finish than having to deal with repairs later.


Another reason why online prices can be misleading is because they don’t take into account the many factors affecting basement remodeling prices. In reality, the cost of the project will vary depending on costs associated with finishing a basement.

average cost to finish basement

Choose Your Budget

$65K $85K $110K+

Basic Basement Remodel

A 800-1,000 SF Basement Finished With Paint Ready Walls, Finished Flooring, Trim, And Electric

Average Basement Remodel

An 800-1,400 SF Basement Finished With Paint Ready Walls, Finished Flooring, Trim, And Electric

High-End Basement Remodel

A 1000-1,400 SF Basement Finished With Paint Ready Walls, Finished Flooring, Trim, And Electric, Bar Area or Bathroom

*The Prices Above Are Averages And May Change Depending On Design Of Your New Basement Remodel And Your Choice Of Materials And Upgrades. You’ll Recieve Exact Quote After Your On-Site Consultation.

What Can Drive the Cost up?

When finishing a basement, the cost can vary from simplicity to complexity.

Difference Between Contractors Pricing

As A Homeowner, You Might Wonder Why There Can Be Significant Differences In The Price Quoted By Different Contractors. Every Contractor Approaches Their Projects Differently. To Make It Easier For You, Here Are Some Tips For Understanding The Estimates You Receive From Basement Remodeling Companies:


Materials Used 

Different Contractors Usually Quote Different Prices Because They Use Different Materials. Some Contractors May Use Cheaper Materials Or Skimp On The Project In Other Ways. Using A High-Quality And Well-Trusted Contractor Will Ensure You’re Getting The Best Value For Your Money.


Job Skills & Knowledge

It’s Not Uncommon For Newer Contractors To Charge Less. Whatever The Discount, If The Job Isn’t Done Right, You Could End Up Paying More, In The Long Run, Fixing Your Contractor’s Mistakes. Remember That It Is Worth It To Spend More Money To Get A Contractor Who Knows What They Are Doing And Has The Right Knowledge And Equipment To Get The Job Done Right. A Reliable Contractor Will Answer Your Questions And Can Reassure You That The Job Will Be Done Right.


Customer Service 

This Is About You. It Is Your Project, Your Home And Your Family! Consider Customer Service When Selecting A Reliable Contractor For Your Project. In Fact, You Should Factor It In To The Cost Of Your Project. You Should Ask What Type Of Communication You Can Expect. During Construction Projects, It’s Important That Your Questions Or Concerns Are Addressed Right Away With Honesty. Understand What’s Going On So You Won’t Regret Making Costly Mistakes Because Of Poor Communication With The Contractor. Maintaining An Open Line Of Communication Is Key So That You Feel Involved In The Project. This One Of Our Strongest Values Is That We Ensure To Keep An Open And Frequent Line Of Communication Open.



The Companies That You Obtain Quotes From, It Is Important To Know Who Will Be Working In Your Home? Some Companies Use Subcontractors. Others, Like Decked Out Builders Use In-House Employees. This Makes A Big Difference And Can Change Your Experience And Outcome. Subcontractors Are Usually Paid By The Job And Have No Set Schedule.. They Might Not Have The Same High Standards Or Take Pride In Their Work Like Employees Do. You Should Also Consider How Many Outstanding Projects The Contractor Has When Selecting A Partner For Labor In Your Deck Project. The Time It Will Take Them To Do Your Project Depends On How Many Other Projects They Have Going On At The Same Time. They Might Take Longer To Finish Yours If They’re Working On Multiple Projects At Once.


Product Knowledge 

There Are A Lot Of Different Types Of Products On The Market. It Can Be Confusing Trying To Compare Estimates From Different Companies, But An Experienced Contractor Should Know About All The Different Products And Recommend What Is Best For Your Lifestyle Based Upon What Is Discussed. 



Choosing A Builder With An Impeccable Reputation Means That You Are Choosing A Builder That Is Proactive, Responsive, And Fair. We Pride Ourselves On Our Reputation In Our Community For Delivering Top-Notch Results And Quality Builds.

Top Quality
Top Rated Products
Excellent Communication
Rave Reviews
Workmanship Warranty

Frequently Asked Questions

How much will finishing my basement increase the value of my house?

The Remodeling Magazine states that a midrange basement remodeling will fetch a recoup of 70%. This estimate assumes that the project includes exterior wall insulation, painted drywall for the walls and ceilings, painted trim, tile flooring (the works, but nothing overly luxurious) as well as a bar, bathroom, and main area.

Are finished basements a good investment?

Finishing your basement can make a great investment with the right contractor as a partner in planning your additional space. Consulting a basement remodeling expert like Decked Out Builders will help you ensure that your basement finishing project does not only recoup your costs but actually improves the value of your house if you’re looking into selling it in the future. .. At the end of the day, you can’t really put a price on having an exclusive personal space at home that you can enjoy.

How long does it take to finish a basement?

The length of time it takes to finish a basement will depend on a number of factors, including the size and complexity of the project. In general, you can expect a basement finishing project to take anywhere from several weeks to several months, depending on these factors. 


One of the most important things to consider when trying to estimate the time it will take to finish your basement is selecting a trustworthy contractor like Decked Out Builders. This will ensure that you have a clear timeline and plan for your project and can avoid any potential delays or setbacks.

Does a permit need to be pulled?

When it comes to finishing your basement, a permit will likely be required. This is because most jurisdictions have regulations and building codes that must be followed when making any major home improvements or renovations.

The purpose of this is to protect you as the homeowner both during and after the building process. Through the permit process, you can ensure your project is structurally sound, safe, and up to code. The contractor is reliable for pulling permits to their scope of work and specifications.