Home improvement pricing tends to vary wildly from state to state. For basements a $ per sq. ft. formula is almost always innacurate. Get detailed quotes from credentialed firms in your area.
Local code requirements can add significantly to your total project cost. In the state of NY, code requires an exit window in all finished basements. This means excavating your foundation and installing an exit window etc.
Labor rates alone can be a deciding factor. Does your contractor employ "Day Laborers"? Does he merely GC the job and sub out the smaller parts to less scrupulous sub-contractors?
The Cost Vs. Value report that comes out yearly tells us that home improvement values only hold up if the job is professionally done. "Shade-tree" or "mickey mouse" construction methods are not included.
If your contractor told you a # without seeing your home or by merely "footing out" your basement you may be in for a surprise. Comparing some anecdotal information that comes from the "net" or the sub-development rumor mill aren't always real or factual. Get DETAILED quotations on paper about what is included in your "price".
Some better questions are;
*WHO is doing the electrical?
*Is it a drop ceiling, or is it drywall?
*Does the "estimate" include paint?
*Is the permit included?
*Does he have insurance/workman's comp.?
*Is there any warranty?
*What are the payment terms?
*Is financing available.
*Is the homeowner forced to be the project manager?
A drywall contractor will use around $2,500 worth of materials in your basement. They typically charge $30 per sq./ft. The finishing time is 1 week per 100 sq. ft., 6-12 weeks on average.
With mold and basement flooding a real danger to many homeowners one might ask, how is it that drywall basements aren't cheaper, since there is a real chance of water and mold damage? Many people have had to finish their basements two or more times. It had better be cheap!
People will fly in an Italian tile man to install imported tile for their bathroom. Spend $15,000 to $20,000 on an impractical granite counter top. Yet, when it comes to their basement where their children will spend much of their time, it's all about cost??
Do some more homework on mold and flooding and you will see that the OC BFS is always a great value.
Some resources for you;
buildingscience.com
realtor.org
remodelingonline.com
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