3 years ago, we got estimates for digging out a 7x9 crawl space. It would have required digging out 6-7 additional feet to account for underpinning and a new concrete slab under the floor. It was about $40K, if that helps at all. We opted against doing that part. We are also fortunate because the waterproofing would be minimal; for a larger space you'd need to account for the waterproofing needs.

We’re considering a home expansion in the next year or two, and ideally it would involve converting our partially dug out (but completely unfinished) crawl space into a fully finished basement. Just wondering if anyone has any recent experience with this type of renovation and how much it might cost before we start seeking out architects, etc.

For context, we’re in NoVa, the crawl space is ~500 sq. ft., and it’s dug out to about five feet. It currently houses our utilities (water heater, furnace). We wouldn’t need to add anything too crazy in the theoretical finished basement; just a bedroom, bathroom, and living space. That said, I’m realistic enough to know that even getting these could cost a good chunk of change and may not make financial sense.

Thanks in advance!