Cost Guide
How Much Does It Cost to Finish a Basement in Minnesota?
Basement finishing cost ranges for the northwest Twin Cities metro. See how layout, egress, bathrooms, and finish level shape the budget.
M.R. Renovations' basement projects in the northwest metro typically range from $20,000 to $120,000 or more, depending on layout, bathroom additions, and finish level. Basements convert at the highest close rate of any service we offer.
Cost by scope
- Defined-Scope Finish$20,000--$35,000
Open rec room or flex space with standard drywall, flooring, and lighting. No bathroom.
- Full Remodel$40,000--$65,000
Multiple defined rooms, an egress window added for a legal bedroom, and a full bathroom added.
- Premium Custom$70,000--$120,000+
Home theater, wet bar or kitchenette, custom built-ins, premium flooring, and additional structural or waterproofing work.
Most of the basement projects we complete land in the Full Remodel tier. A multi-room basement with an added bathroom is the most common scope.
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What drives the price
Egress window requirements are a major driver. Any room used as a legal bedroom needs a code-compliant egress window. After that, moisture and waterproofing prep, whether a bathroom is added, and ceiling height and code compliance in older homes move the budget most.
Where the money goes
- Labor
- 35--40%
- Materials
- 25--30%
- Electrical & plumbing (incl. bathroom rough-in if added)
- 15--20%
- Permits & design
- 4--6%
- Contingency
- 10--15%
Directional shares of a typical basement budget. Your project will vary.
Timeline
Most basements run 6 to 12 weeks depending on scope. Adding a bathroom, egress window, or waterproofing work extends toward the upper end.
The M.R. difference
Lifetime Transferable Workmanship Warranty. Free No-Gimmick Estimates. BBB accredited, family-owned, and 40+ years serving the northwest Twin Cities metro.
Frequently asked questions
- Most projects fall between $20,000 and $120,000, depending on layout, bathroom additions, and finish level.
- Yes. Minnesota building code requires a code-compliant egress window for any room used as a legal bedroom below grade.
- Most take 6 to 12 weeks, depending on whether a bathroom or egress window is part of the scope.
- A properly permitted, finished basement typically returns a strong share of its cost at resale and adds functional living space, though exact return varies by home and market.
- Confirm their DLI license is active and matches your contract, ask whether they pull permits themselves, and get a written, itemized quote broken down by trade.
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