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TRANSPARENT PRICING – ADDRESSING THE ELEPHANT IN THE ROOM

THE COST TO FINISH YOUR BASEMENT IN 2024

No more guesswork- get clear and upfront cost for your basement renovation project in the greater Toronto area.

 

 

We categorize our pricing into tiers to cater to diverse needs and budgets:

Standard Grade Finishing: Ideal for those looking for a functional, no-frills basement. This option covers essential elements like basic insulation, standard lighting, and simple flooring.

Mid-Range Remodel: A step up, offering better-quality materials and more customization options while still maintaining cost-effectiveness.

High-End Renovation: For those who want luxury, this includes top-of-the-line materials, custom design work, and premium features.


Each tier reflects a different price range, ensuring that you can find a solution that aligns with your budget and vision. Keep in mind that these are general estimates, and the final cost will be tailored to the unique aspects of your basement remodelling project.

FINISHED BASEMENT

STANDARD FINISHES, OPEN-CONCEPT 1 DEDICATED ROOM ONE BATHROOM

$80K - $100K+

Up to 1000 Sqft

FINISHED BASEMENT

  • Metal & Wood Framing
  • R-20 Fiberglass Insulation
  • Switches, Outlets, & Potlights Lights
  • Extend Ducts Low on Walls
  • Drywall & Taping (Walls & Ceiling)
  • Hollow Core Paint Grade Doors
  • Standard Paint Grade 3 1/4″ White Baseboard & 1 1/4″ White Casing
  • Prime & Painting of Walls, trim & Doors
  • Standard Vinyl Plank Flooring
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MOST POPULAR PACKAGE

FINISHED BASEMENT + 3 PIECE BATHROOM

STANDARD FINISHES, OPEN-CONCEPT 1 DEDICATED ROOM + BATHROOM

$100K - $125K+

Up to 1000 Sqft

BATH INCLUDES

  • Fiberglass Shower Base
  • Porcelain Tile Surround
  • 36″ Vanity 
  • Vanity Mirror
  • Vanity Light
  • Bathroom Accessories
  • Granite or Quartz Top
  • Standard Plumbing Fixtures
  • Porcelain Tile Floor
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FINISHED BASEMENT + 3 PIECE BATH + WET BAR

STANDARD FINISHES, OPEN-CONCEPT 1 DEDICATED ROOM + BATHROOM + WET BAR

$115K - $150K+

Up to 1000 Sqft

WET BAT INCLUDES
 
  • Up To 12′ Custom Cabinets
  • Soft Closed Doors
  • Soft Closed Drawers
  •  Quartz Countertop
  • Standard Plumbing Fixtures
  • Ceramic Tile Floor

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The Three Key Factors That Influencing the Cost of a Basement Renovation

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# 1 Size of the Basement:

The larger the basement, the more materials and labour will be required, directly impacting the overall cost. Larger spaces may need more extensive work in areas like flooring, ceiling, and wall construction.

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# 2 Materials Used

High-quality, durable materials tend to be more expensive. The choice of flooring, wall coverings, and ceiling materials can significantly vary the total cost. Luxury finishes like hardwood floors or custom cabinetry will increase expenses.

Basement Design

# 3 Complexity of Design

A simple remodel with basic amenities will cost less than a complex design featuring custom-built elements, intricate layouts, or unique architectural features.

Other Factors That Will Influencing the Cost of a Basement Remodel In Durham Region And Toronto

 

  • Labour Costs: The cost of skilled labour can vary widely depending on the region and the expertise of the contractors hired. Specialized work such as plumbing, electrical wiring, or custom carpentry typically incurs higher labour costs.
  • Plumbing and Electrical Work: Adding or updating plumbing and electrical systems can significantly increase the project's cost, especially if it involves complex alterations or bringing old systems up to current codes.
  • Permits and Inspections: Depending on the locality, necessary permits and subsequent inspections for construction and safety standards can add to the overall expense.
  • HVAC Systems: Installing or upgrading heating, ventilation, and air conditioning systems to accommodate the basement space can be a costly aspect of the remodel.
  • Waterproofing and Insulation: Proper waterproofing and insulation are crucial for basements. The cost can vary depending on the methods and materials used to ensure a dry and energy-efficient environment.
  • Custom Features and Additions: Features like home theatres, custom bars, or built-in storage solutions add to the cost due to the need for specialized design and construction.
  • Market Fluctuations: The cost of materials and labour can fluctuate based on market conditions, affecting the overall budget for the project. Economic factors and supply chain issues can play a significant role in these variations.

So, How Much Should You Budget for a Basement Renovation?

When it comes to finishing your basement, the question on everyone's mind is, "But really, what can I expect to pay?" This is a valid concern, and we understand the importance of having a ballpark figure in mind before diving into a project. In the following section, we provide a comprehensive overview of the pricing spectrum to help set realistic expectations.

The cost of finishing a basement varies widely, influenced by numerous factors that we've outlined earlier. You might encounter a range of pricing options based on the size of your basement, the quality of materials you choose, the complexity of the design, and other specific requirements like plumbing, electrical work, or custom features.

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Luxury Basement renovation

Home Theatre

If you enjoy hosting gatherings with friends and family, creating a home theater in your basement could be a fantastic idea. This will provide you with a dedicated space in your home for entertainment. By incorporating a large-screen TV, cozy seating, quality speakers, and soundproofing, you can elevate the viewing experience for all. You can expect to invest $150+ per square foot to turn your basement into a home theatre.

Basement home theater
 

Adding A Custom Bar

Custom bars crafted on-site offer the perfect blend of style and functionality, tailored to your unique preferences and space requirements. These bespoke bars seamlessly integrate into your basement, maximizing its potential. While prefabricated bars are a convenient option, available in a range of sizes and colors to complement your space, custom bars provide a truly personalized touch. Keep in mind that some assembly, such as wiring and plumbing for electrical and water features like sinks and lighting, may still be necessary. The cost of a custom home bar typically ranges from $25,000 to $50,000, offering a unique and personalized touch to your basement space.

Luxury Basement renovation
 

Wine Cellar

A wine cellar is no small investment. While a wine cellar can be “stock”, they are typically highly customized projects expertly designed to fit the room. Residential wine cellars starts around $15,000 and can go up to $180,000.

According to fixr, the national average cost for a wine cellar is $33,750.

The lower end of the spectrum could be wine cellars that have been converted from a closet, and the higher end could be a fully personalized wine racking system.

Building a wine cellar includes a few things that influence the cost, including climate control, materials, and custom features. 

basement_wine_CELLAR_idea
 

Sauna & Steam Room

Indoor saunas tend to come with a higher price tag compared to outdoor saunas. The cost of setting up a sauna can vary significantly, depending on the size of the space and the necessary equipment. Typically, saunas range from 4 feet by 4 feet to 8 feet by 12 feet, with an average width of 8 feet. An 8 feet by 5 feet sauna can comfortably accommodate four individuals. Constructing a sauna for five to seven people could cost approximately $15,000.

steam-room
 

Basement Separate Entrance

When adding a legal basement apartment, having a separate entrance is crucial for both safety and privacy reasons. It not only provides a sense of independence for the tenants but also ensures compliance with building codes and regulations. A separate entrance also adds value to the property and makes it more appealing to potential renters or buyers. So, when considering converting your basement into a rental space, be sure to prioritize the installation of a separate entrance as part of the process.

The average price range for a walkout basement in Canada is $15,000 to $50,000.

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