How Much Would It Cost To Finish My Colorado Basement?

The short answer? Basement remodeling costs in Boulder could run you anywhere from $45,000* to upwards of $150,000*.

Basement conversion with white colour palette

The short answer? Basement remodeling costs in Boulder could run you anywhere from $45,000* to upwards of $150,000*. But that is completely dependent on what’s included in each project’s unique scope.

So, the more important question to ask is where did we get that number? We’re going to pull back the curtain and break down the cost to finish a basement in Colorado. 

Main contributors to the price of a finished basement in Colorado

If you’re embarking on a basement remodeling project, there are key factors to consider and each will contribute to the cost. Here are three main contributors:


Anytime excavation is involved, you’re guaranteed to see your final costs increase, no matter how small you may think it is. Why? Depending on your project specifics, factors like equipment transportation, specialty attachments to break through Boulder’s rocky terrain, and having engineers on-site may be needed, which, you guessed it, costs money.  

Different contractors 

Contractors’ rates vary. That’s why we recommend getting at least three different quotes for your project. But remember, cheaper isn’t always better. Rather than only seeing the dollar amount, focus on what kind of value each contractor brings to the table. That could be expert knowledge, state-of-the-art equipment, or exclusive discounts on premium materials.  

Project Management

Many homeowners balk at the idea of hiring professional project management. But the truth is, it’s their job to make sure your basement renovation runs smoothly. They’re there to avoid common problems and identify potential issues, saving you time and money down the road. 

What basement finishing process and materials do I need?

Thorough planning and smart interior design are the most vital steps in finishing a basement. A well-planned renovation will not only save you time and money, it will provide you with a whole lot of peace of mind, which is invaluable. Beyond the preliminary planning stages, here’s how the typical active construction process would go and the materials you need for a basic finished basement:

basement renovation with carpet

Waterproofing: basements are damp by nature and this protective layer keeps moisture from seeping in. 

Insulation: without an abundance of natural light, insulation helps keep basements warm and cozy.   

Wall framing: essential for a finished look.

Electrical, plumbing, and other utilities: you may not need much if you’re just finishing your basement for extra storage. 

Drywall/sheetrock: enclose the utilities within the wall framing for a polished look.  

Paint: time to add some personality.

Ceiling installation: unless you’re going for an industrial or rustic finish, don’t skip this step. 

Subflooring, followed by flooring material of your choice: thick subflooring over the underlying concrete is key to creating a plush feel under your feet. 

Finishing: make it your own!

  • Trim and moulding
  • Light fixtures
  • Extra embellishments and decor

If you’re interested in learning about the details of a real Refresh basement renovation, check out this project here. 

Will a finished basement add value to my home in Boulder?

Whenever you add usable square footage to your home, you can almost count on its value increasing. According to a 2022 report conducted by the NAR, basement renovations are estimated to recoup 86%. That’s quite a substantial return! However, there’s no guarantee. 

One of the best ways to increase the value of your Boulder home is to convert your basement into a rentable ADU (accessory dwelling unit). This is one of the rare renovation opportunities that begins to give you a return on your investment BEFORE you sell your home. Of course, being a landlord isn’t for everyone, but it’s a great way to generate passive income and increase your property value for future sales. 

Want to turn your Colorado basement from cold to cozy? 

We can help! Just get in touch with a local Boulder Remodeling Consultant to arrange your initial consultation.

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If you would like to find out how Refresh Renovations can support you with a high quality, efficient home renovation, get in touch today. Your local Refresh Renovations consultant will be happy to meet with you for a free, no obligations consultation.

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