An architect in our network is considering adding a 400-square-foot basement below a new 400-square-foot addition.
It’s odd that basements are such a rare thing in the area. Basements are standard for the rest of the country, and they provide so much usable space. While they’re traditionally used for storage and to house appliances such as washers and water heaters, they can also be finished and used as work or living spaces.
To excavate a 20′ x 20′ space will cost $25,000. This includes the excavation and removal of 150 yards of soil.
Exporting soil has a fee of $700 a load. A load in a dump truck is 7-8 yards.
20′ x 20′ x 8′ deep is 120 yards of soil. That is 17 loads and $15,000 in fees to the transfer station/dump.
4 days of labor plus machinery is $1,200/day = $5,000 for labor and machinery.
Shoring is additional.
The foundation footings will be about $8,000.
The foundation walls, which will be poured concrete, will be another $8000.
With a contractor doing this, it would be $40,000. That’s 400 square feet for $40,000. You can finish this space for a very reasonable cost too.
This is such a good value. Around here, real estate is valued at $900 or more per square foot, and construction costs are usually $300–$500 or more per square foot. There is a lot of value in a basement.
It’s tempting to have fun with this idea now…
- Add radiant floor heat.
- Get a bedroom or two into a 400-square-foot footprint and rent it out.
- Have a basement bar.
- Add a playroom for the kids.
- Put in an office.
- Make it a media room.
- Get a music room.
This is making me wonder why we don’t do basements all the time!
If you’re adding on to your home, a basement could be just what you need to make your improved space even better.
Schedule your free consultation call today to discover all the best ways to maximize your property’s value. Our experienced project manager will call you and answer all your questions about making the most of your property. Just let us know when to call.