Looking for more space, but don’t want to move? Consider building a basement under your home! This isn’t a small project for most homeowners, but it can be done. Keep reading to find out tips from NJ’s best basement builders.
Can I Build a Basement Under My Existing Home in NJ?
For the right price, pretty much anything can be done—including building a basement under your home. You can build a whole castle under your home for enough money—the question is, is it going to be worth it? When people ask about adding a basement to their home, they usually mean lifting the house, digging out the basement, and putting the house back on (plus all the structural supports in-between!). This is a massive project! On the other hand, if you have an unfinished basement, deep crawlspace, or “root cellar,” you may be able to renovate that space for a fraction of the cost.
How Much Does it Cost to Build A Basement?
Building a basement is not cheap. On average, it costs about $50 per square foot to add a basement to your home—and you can’t skimp on any of those feet! For an average home, plan on around $200,000 to add a basement. Yikes! For many people, that’s nearly as expensive as their home was in the first place. However, if you have an unfinished basement, a skilled handyman in NJ can renovate it for far less—a basement remodel typically costs less than $50,000.
Should I Add A Basement To My Home?
Even if you “can” add a basement—should you? As discussed above, adding a basement can be nearly as expensive as buying a second home. If you think adding a second story is any cheaper, think again—that project is almost twice as much! Other bad news: most homeowners who build a basement under their house do not recover those costs; only 80% or so are recovered at sale. However, if you have a home that you love, and that you know you will live in and enjoy for many years if only it had more space, adding a basement can be a smart choice. It allows you to stay in your home, near the neighbours you have built relationships with, near the schools your kids are enrolled in.
If you are thinking of building a basement in your NJ home, call Around the House handyman for help planning and building!