When securing a loan to finish basement renovations, you have options. In this to go guide, wersquo;ll break down the initial costs as well as how you can use a home equity loan to finish basement renovations. While it’s difficult to predict exactly how much it will cost to finish a basement without understanding the specifics of the basement in question, the average cost can give you a good indication of what to expect. According to HomeAdvisor, the nationwide average for finishing a basement is around $18,395 once labor, construction permits, and materials are considered. These ceilings can shave money off of your remodel costs immediately and save you money in the future since you won’t need a contractor to cut into the basement’s ceiling to gain access to pipes and wires.