Basement Cost Guide
Finished basements as well as other house renovations can be the sites of stunning achievements and your pride or apocalyptic home disasters. Problems existing in your basement can significantly decrease the general value of your home, while cost-effective finishing work can add habitable square footage, vastly increasing its value.
Whether you are planning to remodel your basement or to fix sinking or leaking foundations, the cost of your work will vary according to your region, complexity or amount of work needed, kind of repair or enhancement and type of soil. Your design can be limited only by your budget and imagination.
Options for Basement Finishing
Finished basement means transforming a currently abandoned space into a livable one with basics such as hanging and painting drywall and installing floors at a relatively competitive price. On average, the cost to finish basement will fall between $6,500 to $18,500 or even more for larger spaces.
Projects that may include but are not limited to:
- Drywall installation;
- Ceiling and flooring installation;
- Sealing a basement floor;
- Framing in walls with studs, adding insulation, for egress windows;
- Encasing and rerouting of ductwork;
- Installation of outlets and charging stations for electronic devices;
- Additional plumbing installation for a bathroom.
Options for Basement Remodeling
It refers to the altering or changing of an existing space and happens after the finishing projects have been completed. Basement renovations in Toronto will cost homeowners between $10,000 and $30,000, including material andlabour costs.
- basement subfloor installation;
- home theatres;
- laundry rooms;
While a remodel generally happens after a basement has already been finished and you want to remodel it, often saving your money. The average basement remodel project can have up to a 70% return on investment. Framing, system upgrades without adding plumbing usually call for minor expansions. The bulk of the cost is in flooring and finishing. In general, you can expect to pay from $6,500 to $15,500.
Remodeling a finished basement is costlier. On average, expect to pay $13,200 to $30,500 for this job.