Repair Cost in Toronto: How Much is Basement Renovation?

How Much Is to Finish a Basement in Toronto

A house with a basement is a good bargain in Toronto since repairing and turning it into a living area is cheaper than purchasing extra square feet on the ground. Your basement can serve you as plenty of things:

• Kitchen;
• Living room;
• Workspace;
• Laundry;
• Bedroom;
• Home fitness studio;
• Home bar, etc.

About 15.4% of row houses in Toronto have basements. Their average area is around 719 square feet, but your basement can be much larger. So, you can build a separate apartment with several units at once. However, how much will it cost? To know the exact price, you need to consider multiple aspects.

Factors Affecting the Cost of Basement Finishing

If you wish to calculate the final cost of your basement finishing, you need to take these factors into account:

1. The total size of the basement;
2. Choice of materials;
3. Design preferences;
4. DIY or contractor.

Although today’s technologies and materials allow homeowners to cope with various remodeling tasks with their own hands, we recommend hiring a professional contractor to carry out the key jobs.

What Is Basement Renovation?

The scope of work may differ from project to project, but a standard one includes turnkey repair, insulation, painting, and ceiling/flooring renovation. Your project may go with a bathroom, which makes its implementation more complicated and costly.

Turnkey Repair

The turnkey stage of basement renovation is essential and the most expensive. First, your contractor might remove the old walls, ceiling, flooring, and other elements, bringing your basement down to its initial state. Then, new walls are erected according to your design plan. You get your walls insulated, joints sealed, flooring and ceiling finished, etc. You may also order the creation of custom furniture and decor elements, like cabinets, shelves, niches, staircases, and such likes.

Read Also :

• The Perfect Timing: When is the Best Time to Remodel Your Bathroom?
• The Real Deal: How Much Does It Cost to Remodel a Bathroom?
• How Long Does It Take to Waterproof a Basement?

In Toronto, you have the broadest choice of materials and skilled contractors who offer affordable renovation services. For turnkey repair of your basement, you’ll need to pay at least $30,000. The number of square feet, a chosen contractor, and the design complexity of the project may skyrocket the final price.

Is a Bathroom Included?

If you need to build a bathroom in your basement and it hasn’t been present in it before, be ready for extra expenses. The work will include laying pipes and other extras that require pulling down a certain part of your foundation. This complex job will add another $3,500 to the list of expenses. Further bathroom furnishing may cost you $10,000-$25,000, depending on the materials.)

Basement Kitchen

One more arduous undertaking is to build a basement kitchen. The cost of a kitchen project may reach several thousands of dollars. Here, you need to factor into a number of aspects:

• Laying services (electricity, gas, plumbing);
• Your preferences for kitchen appliances;
• Cabinets, countertops, backsplashes, etc.;
• Flooring and ceiling;
• Ventilation;
• Safety.

If you plan a kitchen of 50-70 square feet, expect to spend $5,000-$25,000 on the entire finishing process. A medium-sized kitchen project may take $20,000-$55,000, while a large kitchen might cost you $45,000-$75,000+.

Painting

The price for painting is based on the total area of the basement, paint volume, and time needed to complete the task. Depending on the quality of materials and the square footage of your basement, you’ll need to pay about $1,000-$2,800.

Ceiling

You can opt for a gypsum or suspended ceiling solution, as well as order a custom-design ceiling for your basement. Average prices start at $4 and may exceed $7 per square foot. If soundproofing is your key element, add another $1,000-$3,200 to the final price.

Flooring

Expect to pay for hardwood flooring at $10+ per square foot. The price may even rise since you may need to settle a humidity issue in your basement before laying hardwood on the floor. There exist cheaper materials that will cost you $3.75+ per square foot.

Insulation

Contractors calculate the price of insulation according to the total square footage of the area. Prices vary from $2.50 to $3.75 per square foot.

Cost Summary: How Much Is Basement Repair in Toronto?

The total you’ll need to pay for finishing your basement depends highly on the complexity of your project. If you plan to construct a bathroom or a kitchen from scratch, you should be ready for heavy investments in it.

A standard renovation project, without complicated jobs with the basement concrete, custom designs, or luxurious materials, will cost you $30,000-$55,000. The more complex ideas you wish to implement, the higher price you should expect. The choice of a contractor may also affect the cost. Finally, you should also consider possible contingencies and reserve a certain budget.