If you plan on revamping your basement, you are probably wondering about how much the entire project will cost. Since so many factors need to be taken into account, giving an accurate price range can be a grueling task. This is why it is important to understand the elements involved in a basement remodeling process, and how the costs are broken down for each task. In this article, we take a closer look at the cost to renovate a basement in Toronto and the rest of GTA.

A GUIDE TO THE BASEMENT RENOVATION COST IN TORONTO

Before, Canadian homeowners would typically ignore their home’s basements, neglecting them for years to come. As a result, their basements would later turn derelict and practically inhospitable. But today, more and more people are starting to recognize the value of a finished basement. For example, it can be used as an additional living space or transformed into an apartment, making it a potential source of income.

If you have finally decided to join this increasingly popular (and practical) trend – congratulations. While the decision to remodel your bathroom is a major one, it is merely the first step. After that, there are several factors you need to consider, such as the costs of the whole endeavour.

Related Article: Do You Need to Finish Your Basement and Is It Worth It?

I. FACTORS AFFECTING THE BASEMENT REMODELLING EXPENSES

As mentioned earlier, several factors determine the overall cost of a basement renovation project. Here’s a quick rundown of the most important ones.

• The size of the basement
• The condition of the basement
• The scope of the basement renovation
• The renovation price per square foot
• The floor plan type
• The quality of materials that will be used
• Basement upgrades and extra amenities

II. BREAKING DOWN THE BASEMENT RENOVATION COST PER SQUARE FOOT

On average, remodeling a basement in Toronto costs around $35 to $75 per sq. ft. So, if your basement measures 800 sq. ft., the overall costs will range from $28,000 to $60,000.

Note: Keep in mind that the price per square footage tends to go down the larger your basement is. For example, the remodeling costs for basements measuring up to 2,000 feet may only fall at around $28 to $33 per square foot.

Here’s a table of the average cost of the renovation based on the basement’s dimensions.

Basement Size	Average Cost ($35 per sq. ft.)	Average Cost ($75 per sq. ft.)
400 – 500 sq. ft.	$14,000 – $17,500	$30,000 – $37,500
500 – 600 sq. ft.	$17,500 – $21,000	$37,500 – $45,000
600 – 700 sq. ft.	$21,000 – $24,500	$45,000 – $52,500
700 – 800 sq. ft.	$24,500 – $28,000	$52,500 – $60,000
800 – 900 sq. ft.	$28,000 – $31,500	$60,000 – $67,500
1,000 – 1,400 sq. ft.	$ 35,000 – $49,000	$75,000 – $105,000

Now that you know the bird’s eye view of the costs, it is time to look into how the expenses are itemized or broken down. This way, you will know how much you will have to spend for each renovation step. Furthermore, it will help you make an informed choice when searching for which basement remodeling company to go for.

Refer to the table below for a quick summary of the bathroom renovation costs:

Bathroom Renovation Elements	Estimated Cost
Building Permits	$300 – $1,900
Framing	$15 – $30 per foot
Plumbing	$100 – $170 per hour $1,500 – $15,000 for the fixtures
Installing the Drywall	$1.5 – $3 per square foot
Setting up the Ceiling	$1 – $6 per square foot
Flooring	$1 – $20 per square foot
Painting	$3 – $7 per square foot
Wiring and Electrical Work	$65 – $130 per hour
Inspections	$300 – $600
Foundation Repairs**	Up to $10,000
Waterproofing**	Up to $10,000

**Optional

1. BUILDING PERMITS

In Toronto and the rest of Canada, home improvement projects – including bathroom remodelling – need to be approved by the local government authority. This ensures that the endeavour is compliant with your province’s building codes and zoning laws, among others. If you get caught making changes to your home without a permit, you may have to pay hefty fines. And in case your home gets damaged throughout the renovation process, you may also become ineligible from filing a claim to the home insurance company. Learn more about the building permit regulations in Toronto.

Cost: $300 to $1,900

2. FRAMING

Once the technicalities are out of the way, the contractors can finally jumpstart the remodeling process. Framing is usually the first step, and it involves building wooden frames and studs to create the outline of the space, partitioning it into multiple rooms. During this stage, the placement of the doors, windows, and closets will also be mapped out. Some factors affecting the costs of framing include:

• Whether the existing walls need to be demolished
• Whether additional walls need to be constructed
• Whether the walls will be soundproofed
• The size of the rooms that require framing

Cost: $15 to $30 per linear foot of the wall

3. PLUMBING

If you want a kitchen or bathroom in your basement, then having a water supply is critical. This is where plumbing comes in. During this step, the focus will be on the installation of the water lines, drain lines, and plumbing fixtures (including the sink, toilet, and shower). These fixtures will constitute the bulk of your expenses. That is, the more fixtures you plan to get, the more money you will have to shell out for plumbing.

Besides the materials and the fixtures, labour is also another important consideration. You will need the services of a licensed professional plumber to deal with the plumbing, and they typically charge anywhere between $100 and $170 per hour.

Cost: $100 to $170 per hour and $1,500 to $15,000 for the fixtures

Related Article: How to Choose the Best Basement Finishing Company in Toronto?

4. WIRING AND ELECTRICAL WORK

This step is all about the installation of the wiring, outlets, and lighting in the basement. For guaranteed safety, it is best to leave the job to a licensed professional electrician. In Toronto, they usually charge around $65 to $130 per hour for their services. Aside from the labour, you will also have to factor in the money you will spend on the lighting fixtures and other electrical components.

Cost: $65 to $130 per hour

5. INSTALLING THE DRYWALL

Drywall – sometimes called “wallboard,” “plasterboard,” or “gypsum panel” – is a large, rigid construction material used to create interior walls and ceilings. Installing this versatile building material offers several benefits to your basement, including boosting the walls’ fire resistance and helping contain the spread of fire. If you want to take things to another level, opt for something that also offers mould resistance and soundproofing. However, keep in mind that these types of drywall tend to be more expensive.

Cost: $1.5 to $3 per square foot

6. SETTING UP THE CEILING

After hanging and drying the drywall, it is time to work on the ceiling. This will give your basement a more finished and refined look. Several types of ceiling options exist, but the most popular ones include drop or suspended ceiling, panelling, and tongue and groove wood ceiling. Each varies in terms of construction, design, mood, and, ultimately, the cost per square foot.

Cost: $1 to $6 per square foot

7. FLOORING

After finalizing the ceiling, the next step is to lay out your basement’s flooring. Again, there is a wide variety of flooring materials to choose from, depending on your needs, preferences, or even budget. If you want a reliable option that won’t break the bank, consider vinyl flooring, which costs around $1 to $7 per square foot. Other popular choices including carpeting (about $7 to $12 per square foot) and porcelain or ceramic tiles (about $5 to $20 per square foot).

Cost: $1 – $20 per square foot

8. PAINTING

The cost of painting a basement largely depends on the size of the basement, and the quality and quantity of paint used. Aside from this, the complexity of the designs will play a vital role as well. That is, the more intricate the patterns, the higher the costs of painting will be.

Cost: $3 to $7 per square foot

9. INSPECTIONS

Securing the necessary building permits is not the only non-renovation thing you have to deal with. You will have to think about the inspections as well. That is, the building inspectors will need to check if your basement complies with your area’s regulations. This includes structural framing, plumbing, and insulation, among others. As might be expected, you will have to pay the inspectors for their services. Learn more about the requirements for bathroom renovation inspections in Toronto.

Cost: $300 to $600

10. MISCELLANEOUS

Aside from the construction of the rooms and other essential expenses, there are other costs you will have to take into account, including the foundation repairs and waterproofing. These are optional, but might be necessary depending on your basement’s state and condition. A building inspection can help determine if you will need them or not.

You also have to consider what type of space you intend your basement to be. Do you want to turn it into an apartment, bar, gym, or home theatre? As might be expected, the furnishings and appliances you need to buy can easily raise the overall cost of the remodelling project. Estimating the prices of these items, however, can be difficult. So, make sure to canvass different stores and discuss the matter with your contractors first.

Related Article: Top Basement Renovation Ideas 2020

PLAN THE ULTIMATE BASEMENT RENOVATION FOR YOUR BUDGET

Refurbishing your basement offers many benefits for you and your family, such as providing an extra living space or serving as another source of steady income. But like any other home improvement project, it does require an initial cost. Of course, you will want to know how you will have to spend so you can budget accordingly. More importantly, it guarantees that you are paying your workers and contractors the right amount – no more, no less.

Providing the exact renovation cost is near impossible. After all, the expenses hinge on a wide variety of factors, including the size and condition of your basement, the scope of the makeover, the materials you intend to use, and many more. With that said, you need to understand which factors come into play, as well as how the expenses are broken down for every step. For a more detailed and more accurate price range, you can always call your preferred basement renovations company. Request a free estimation from Basement Renovations Now today by dialing 647-370-1399.