BASEMENT RENOVATION COST

There are a couple of factors which affect basement renovation costs. Averagely, the renovation costs between $35 - $55 per square foot. This implies that you’ll spend between $35,000 - $55,000 to renovate 1,000 square feet of the basement.

The scope of the renovation, space planning and types of material are among the factors that affect the cost of renovation.

Your basement is of great value. For this reason, homeowners invest in their basements and make the area suitable for their family's needs. A lot of value is placed on basements because there are numerous things for which space could be used.

Costs Involved In Basement Renovations

Different charges are to be factored-in at various stages of the renovation. If you would like to have a bathroom or kitchen in the basement, you need to consider plumbing first.

Plumbing

There is a need for water supply and sewage for your bathroom. You’ll have to hire a professional plumber and foot the bills related to connecting the water and sewage lines. The wall may be open to run the pipes, which makes it convenient and less costly.

Building permits

If changes are to be made in your home, you’ll need approval from your local government before you can start executing the project.

Inspections

You’ll need to inspect if you are installing a bathroom in your basement. When all the plumbing work is done, ensure to inspect the work done to ascertain if it is up to government-regulated standards. All electrical work should be inspected, as well. This is an important factor because faulty connections might spark up a fire outbreak and incur damages to large for your insurance company to cover. There are some costs involved with inspections.

Framing

When your basement is large or open, sectioning the space into different rooms would be the best idea. Putting up walls will add to the renovation costs, but it adds value to your home and gives you a worthwhile investment. The framing costs are based on:

·         The need for wall demolition

·         The room size

·         If walls are to be erected

·         Whether there’ll be soundproof walls.

Drywall Installation

If you’ll be adding a new wall to your basement, then you’ll need to consider this process. It is vital and should be done after framing. One of the factors that will affect the cost is the type of drywall you want to install.

Usually, drywalls cost between $10 to $20 per panel. When you make a decision on the material to use, the next step is to find out the cost of installation. Averagely, drywall installation costs around $1.50 and above per square foot. The cost mostly depends on the area of installation.

Drywall finishing is the next cost to factor in. The texture used determines it will be soundproof or not. The cost for a soundproof drywall is about $50 for an 8×4 panel.

Installing Electrical Appliances

You should expect to pay about $50 to $100 per hour to the person who will install your appliances. Your basement to need some wiring to ensure it supports your electrical needs. You have to hire a professional to handle if you want to avoid any issue that might arise due to faulty wiring. The hiring costs will vary. This depends on your area of residence and their level of expertise.

Other Renovation Costs

Renovations mustn’t involve adding rooms to the basement. You can give you basement a turn around without breaking down or erecting walls.

Adding a home theatre

If you enjoy entertaining family and friends, it would be nice to install a home theatre in your basement. The area could be mapped out for entertainment. You can install a big-screen television, luxury chairs, high-quality speakers and make the room soundproof.

Installing a Bar

Adding a bar will be a good idea if your room is meant for entertainment purposes. It makes entertaining and servicing your guests easier. Renovating your basement will increase the value of your home and make it an asset if you decide to sell, you should keep that in mind.

Significant room

You can turn your basement into a gym or home office as a way of utilizing space. You can adopt our innovative ideas and maximize the space in your basement. This will suit your family’s needs. We have experts that are well respected in the industry.

Average Cost to Finish a 400, 500, 600, 700, 800, 900, 1000 Basement in Canada Based on Square Footage

400-500 sq. Ft. = $14,000 – $17,500

500-600 sq. Ft. = $17,500 – $21,000

600-700 sq. Ft. = $24,500

700-800 sq. Ft. = $28,000

800-900 sq. Ft. = $31,500

1000-1400 sq. Ft. = $42,000

Basement Renovation Q&A

Q: Does a finished basement increase value?

A: Yes. Renovating your based is certainly profitable. Some prefer to focus on the cost of renovating the basement or finish up an uncompleted basement. It is imperative to note that you can add tons of value to your home by renovation the basement.

Q: How much does it cost to put a bathroom in the basement?

A: There are numerous factors to consider here, averagely, it costs between $10,000 to $25,000 to install a basic bathroom in your basement.

Q: How long does it take to finish your basement?

A: Capable Group can finish up the project on about three weeks.

Q: Are finished basements counted in a home’s square footage?

A: No. Basements are on a separate listing.

Q: How much does it cost to waterproof a basement?

A: It usually costs $5,000 to seal a basement. If there are other fixes you would like us to make, that cost could get to about $10,000.