Let's Talk Money

Those that have been following my blog know that we recently finished doing a two-room basement remodel (and when I say remodel, I mean totally gutting everything and starting over). If you missed out, you can read how we ripped everything down (and had an encounter with mouse skeletons and a live raccoon), added stud walls, lights, insulation and drywall, then taped the drywall and added texture to the ceiling, put some color on the walls, added finishing touches, and finally got carpet and blinds installed. Whew, it makes me tired just thinking about all that work.

Some of you may be wondering how much all that stuff set us back. So, here's the breakdown. Remember we didn't hire any of this out (and we borrowed almost all the needed tools), so materials were our only costs.

First was insulation. We added beadboard (kinda like Styrofoam) in a layer around the basement foundation. We also added layers of rolled R13 bats to the center walls in the bedroom to give it some sound-proofing (so the next door washing machine, dryer, and furnace wouldn't be so bothersome). The grand total for insulation $209.38.

Next we have the stud walls and sheetrock supplies and taping materials. This was really the big bulk of materials we brought in for the project. The total for wall-making materials was $581.39.

Lighting, electric, and ductwork are obviously very important parts of a room though you may not think much about them. The ductwork we were mostly able to re-use, but the lights and electric we entirely replaced. To make the room tall-person-friendly, we wanted to make the lighting as high as possible, which meant recessed lights. In total, the 'guts' of the renovation cost $357.55.

Fun fact - it takes a LOT of fasteners (nails, bolts, screws, wire staples, etc.) to refinish a basement. A grand total of $63.26.

Paint and supplies (this includes primer, wall, and ceiling paint and many supplies that can be reused) cost a total of $368.04.

For interior and closet doors (& hinges and a door knob), we opted for 6 panel doors because we think they give a lot more style than a standard flush door. This splurge set us back $156.24.

Finishing touches (baseboard, door casing and window shades) set us back $221.34.

Carpet was a bit of a splurge for us. We ended up with a very soft, high pile carpet that I just love walking around barefoot on. Total cost for carpet was $1,200.34.

In summary:

As you can see, our 2-room basement renovation cost just $3,157.55! I honestly have no idea how much we would have spent hiring someone to do this for us, but I am certain it would have been at least double. So I can definitely say that I am really glad we chose to DIY. We put in a lot of time and sweat, but in the end we have an awesome basement to show for it!!