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2002 Cost vs. Value Report
Basement Remodel About one-third of the projects Ryan Schleper tackles are basements. Schleper, owner of All City Builders, in Buffalo, Minn., says clients want their basements finished for two reasons: They need space, and a basement remodel is usually about a third of the cost of an addition. Mechanicals, foundation, and outside walls are already in place, and no re-landscaping is required. HomeTech puts the national average cost of remodeling a basement at $43,112. Salespeople and appraisers interviewed for the study predict an average return of $33,911, or 79 percent. PROJECT DESCRIPTION Finish the lower level of a house to create a 20-by-30-foot entertainment area with wet bar, a 5-by-8-foot full bath, and a 12-by-12 foot auxiliary room. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel, primed hardboard doors. Main room includes 15 recessed ceiling light fixtures, three surface-mounted light fixtures, and a snap-together laminate flooring system. Bathroom includes a standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, light-fan combination, vanity light fixture, and recessed medicine cabinet. The bar area includes 10 linear feet of raised panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.
2002 Cost vs. Value Report Introduction Kitchen remodel Bathroom remodel Bathroom addition Master suite addition Window replacement Family-room addition Two-story addition Basement remodel Roof replacement Siding replacement Contributors ___________ Previous reports: 2001 Cost vs. Value Report 2000 Cost vs. Value Report |
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