A finished basement can provide up to a 70 percent return on investment, but before starting a basement finishing project, it’s best to understand the potential cost. The typical expense to finish a basement ranges between $2,800-$33,985, with the national average at $18,395, and you should plan to pay an average of $25 per square foot. The cost is impacted by the type and quality of materials, how the space will be used, and the contractor’s labor rates. Labor cost averages between 10-25 percent of the overall project cost, and contractors typically include labor in the total project cost instead of charging by the hour. Before proceeding with your finished basement project, understand factors that will affect the overall cost.

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