Well, as DH likes to say........"it is what it is". :)

I don't see many areas you can cut out a total of $3K+, but you may be able to cut the price on the walls by going with either a skip-trowel or orange peel finish. Smooth walls are more costly.

Also not sure about the 3.5" pattern base. Is that the baseboard? You may cut some cost there by going with a simple baseboard.

Personally, I wouldn't go with track lighting but spend the $$ for the canned lights. It'll be better lighting overall and you won't have to decide which way to aim the track lights so they're not shining in someone's eyes! I also don't see lamps mixing well with pre-teens and teenagers.

What is $2800 for getting permits? Since you mention that the cost of the building permit is $150, what's the other $2800 for? If it's to pay the contractor's time for waiting in line in your town, why don't you go get the permits?

Can you and your husband install the insulation? It's a no brainer if you have a staple gun, a utility knife and a pair of scissors

Your sheetrock estimate seems really high to me - how many walls are you having put in?

If you can DIY any of this, you'll save.

kec: I think the $2800 is for all the electrical stuff including permits.

The drywall looks really pricey to me. I've heard of people getting their whole houses done for that much. Is this one big room or several? Can you post a floor plan? For similar reasons the framing looks high. It would seem to me that 2 people could knock off the framing in a day or two.

The interior partition wall seems awfully pricey especially considering the drywall is a separate bid item. What's the height & total length of the wall?

I think the insulation and drywall both look a little high. Why the insulation in the ceiling? It really doesn't stop much noise. Also, I don't believe fiberglass batts are recommended for basement insulation. Look up the Building Sciences recommendations, they say to go with foam (you can use the foam boards). And then you can use 2x3 for the wall since it is only used to runs wires through (not sure how much that saves since 2x4 are more common, but you can check).

Insulation is a suck job, but something a homeowner can do. It is also an easy thing to get an estimate on. The people who do nothing but insulation charge less than everyone else (GCs), at least around here.

Some insulation outfits are less than what you can pick up the materials for and diy install.

Just guessing, but I suspect the framing/insulation seems high because of furring out previously unfinished basement space? Doesn't seem that high to me. I agree that it's possible that DIY insulation may be cheaper... but you have to balance that with your sanity and checkbook.

Check the difference between orange peel and smooth finish... and decide if you can live with it. the kids won't care, but you might if/when you repurpose the basement in future. (Who knows, maybe texture will be back "in" by then.)

Go with the can lights if you can make the stretch. I agree that the track lights will be something you regret down the line... picture a time when the kiddos are all gone and you want to upgrade the space for your OWN uses... retrofitting electrical is harder than updating a few finishes to your own taste.

edselpdx,

I found your comment about wall texturing being 'in' interesting since I also live in the PNW and all the (newer) homes I've been in have some type of texture. Do you see mostly smooth finish in your area?

There's been more discussion of texture vs smooth on the Decor forum and it's definitely a regional thing vs a trend. Texture's all I've been around except when growing up in the South and the craftsmanship on those smooth walls led to my love of texture! :)

I don't follow trends all that closely, but it does seem right now that flat (no texture) is "in" right now in general. Texture is much more forgiving, as the tape job doesn't have to be quite as perfect. Texture covers all kinds of sins. I do live in Portland, OR, but am not terribly familiar with the new(ish) home market-- I suspect walls are textured in newer builder homes that are not high-end because it's cheaper.

That said, lots of people are frantically scraping the 70's-80's "popcorn" off their ceiling. My guess is that it will be considered a plus to have the "original" popcorn in 10-20 years in a home of that era, but who am I to say.

My point to the OP was that if there's a significant cost difference between textured and smooth finish on the walls, that would be a place to cut costs, since s/he clearly isn't trying to create a high-end space.

I totally agree that she'll probably find a big difference in price between the two types of finishes!

All the newer homes I referred to were high-end..........2 million + and some of them were the Street of Dream homes.

While I agree that the framing, insulation, and drywalling all seem high, without seeing the room and knowing the lineal feet, how many walls, whether they are interior or exterior block/poured walls that need firring out, etc. it's hard to know. However, the wall texture options, and getting bids from insulation contractors are good suggestions.
You can probably cut costs on the stairway by putting in a half wall with drywall instead of railing. And the flooring will probably be cheaper if you go to a flooring store and pick out the materials and have either the flooring store install them or cheaper yet, get flooring guys to bid the installation directly to you. Since the flooring is the very last thing to be installed it won't require scheduling difficulties with your general contractor where the insulation could.
The electrical price looks reasonable.
Track lighting will stick down from the ceiling which means they can be knocked off when things are thrown. With a kids area things will get thrown.
By the way, if you use the thickness of insulation bats that are made to fit the floor joists in your ceiling it will make a huge difference in the sound dampening.
The doors look like they are either really expensive doors or the installation is very high.
I didn't see any HVAC bid. If not done properly this can make your whole basement, sometimes some upstairs rooms, very uncomfortable.
The base trim work may also be an area to save a few bucks.
It may not be a lot but if you can save a little here and there it does add up. Remember too that you will go over the budget you start out with by 10 to 20 percent. It is the nature of things, especially in remodeling.
I would get a couple more estimates. Don't let the new bidders know any of the other bidders amounts on anything so that you can get honest comparisons.

Save $819. Forget the fiberglass batts. Even in an ideal installation, they do virtually nothing. In a ceiling with 16 holes from potlights, the insulation is a guaranteed waste of money.

You can save about $250 by going to 24" centres on your perimeter framing. Load-bearing construction can be built this way. You're only holding up drywall.

Some contractors will charge less for a popcorn textured ceiling than for smooth finish.

Not a savings. But you can use a smart vapour retarder, Membrain, along with the fiberglass on the walls.

Below are samples of textures. My home has skip trowel on the ceilings and the walls are a fine/small orange peel.

Here is a link that might be useful: Textures

Pricing on things like drywall finishes vary quite a bit in different parts of the country, and while the textured look is "in" thru the western states, smooth is the norm on the east cost and therefore the most cost effective. I'm in NC and 15 yrs ago smooth (ceilings) were an upcharge over textured. 5 yrs ago it had reversed. I agree with the 24" oc wall framing, unless it's one that carries floor load from above. Do insulate the walls, and the perimeter joist band (if it's not already done) Do seal the main floor system to the exterior basement walls before you start framing. Don't put the insulation in the ceiling above. It will cause too much temperature isolation. For sound, use rubber or metal isolaton strips to hang the drywall. The interior doors and base sound a bit high, but I bet they are stain grade wood, which is pretty pricey.

Last and most important, if you have done your research (references, insurance, and check with the local building inspection department about his inspection record) and this guy is reputable, suck it up and pay the price. The last thing you want to do is start off the job 2nd guessing the builder, especially if you don't have any real knowlede of the building process. If you have any conceren, at the end of end of the job hire an independant home inspector to check it out before issuing final payment. If's he's a real professional, he won't see it too much of an insult, but keep in mind the same criteria applies when you hire an inspector, and don't hire a rookie. 3 months of classes at the community college may turn a used car saleman into a home inspector, but it won't make him a good one. Look for a min. of 5 yrs experience in construction + 3 yrs in the home inspection game. A successful remodeling experience can sometimes be more than you want to spend, but it's always cheaper than an unsuccessful one.

Finish the floors with acid based stain. I just did a room in our house. First time I did it. It was so easy and turned out great. Great thing is you can always go back at a later date and add wood or whatever flooring you like over it. But I think you will find them so easy and kid friendly you might just want to keep them. You can even get stencils to make it really unique. But basic staining keeps the cost at a minimum. Were talking about .50 a sq. ft.