Budget-Friendly Basement Finishing Options in Ontario

For most homeowners, the basement is a premium space that often needs to be utilized. Hosting, relaxation, fitness and other options are why turning your basement into a beautiful space is at the top of your renovation list.

Basement renovation requires a little planning and development work. From the initial design to the final paint stage, there's much to do to create your dream basement. This article from Happy Construction examines the work and the costs involved so you can properly plan your next remodelling project.

How much is the basement finishing cost?

The cost of finishing your basement depends heavily on a few key variables, the first of which is the space size in square feet. Since larger spaces require more labour hours and materials, they will naturally cost more to complete. For your reference, expect basements of the following sizes to have related costs in Canadian dollars:

• 400- 600 square feet = $42,000 to $52,000
• 600- 800 square feet = $52,500 to $68,500
• 900- 1000 square feet = $77,000 - $85,700
• 1100- 1400 square feet = $94,000 - $120,000

Although the quality of the materials and the project's complexity will change the numbers slightly, these numbers should give you a reasonable range of basement remodelling costs depending on the space size.

Basement finishing cost factors

As with any home remodelling project, your two main expenses will be materials and labour. Depending on the size and complexity of your basement remodelling project, you'll need to spend tens (if not hundreds) of construction hours and thousands of dollars in materials. 

More complex tasks are priced based on premium materials and more sophisticated designs than standard alternatives. Consider your basement renovation as an investment in the value of your home and the quality of your lifestyle, and find a balance that fits your budget.

Breakdown of the basement finishing cost

To budget for basement renovation, you must also consider technical issues. They include everything from initial planning to infrastructure and development. Below I'll go over them in detail and explain the expected price range.

Piping

Your newly renovated basement needs a water connection to install a bathroom, sink, etc. You need a plumber to properly install the water and sewer lines and ensure they work. This way, the on-site plumber will charge you an hourly rate, depending on the complexity of the job and the time it takes to complete.

Building permits

Before renovating your basement, you must obtain the appropriate permits from local government authorities. Expect this part of the project to cost between $3,500 and $5,000, depending on the complexity and size of your project.

Inspections

During renovations, an inspection is required if you add any plumbing or electrical elements to your basement. Reviews are critical because they ensure that the completed work meets municipal standards and prevents damage from leaks, electrical fires, etc. Inspection fees will vary greatly depending on the project size and whether you are doing plumbing, electrical, or both.

Framing

If your renovation includes creating several rooms, consider the basement framing cost. Framing costs depend on several variables, including whether old walls need to be torn down and how many additional walls and doorways you need to build. You should expect framing costs between $15 and $30 per linear foot.

Installation of drywall

If you're framing additional walls during remodelling, you'll need to factor in the costs of basement drywall. Expect a price of about $20 per sheet, depending heavily on the type of drywall material used—the actual drywall installation costs between $1 and $3 per square foot.

Insulation

To help regulate the temperature and heat of the basement, you need to ensure that a professional team, such as Happy Construction, adequately insulates your new or old walls. Standard rigid foam and spray insulation options will cost between $1.50 and $5.50 per square foot, including materials and installation labour.

Ceiling

The basement is only complete with a beautiful new roof. Although seemingly standard, there are numerous ceiling options available that offer unique styles at different price points. The three most common types are:

• Drop ceilings that use acrylic panels to create a beautiful design which looks more expensive and luxurious than it is. As a stylish and affordable option, you should pay between $2 and $6 per square foot.
• Panel sheet uses traditional roofing materials to create a simple and elegant style that has been reliable over the years. As the most common roofing option, you'll pay between $12 and $30 per panel.
• Tongue and Groove Wood uses high-quality materials to create a beautiful, layered experience. This type of coating is the most affordable, and you can expect to pay between $1 and $3 per square foot.

For more information, please contact Happy Construction Company.

Flooring

Basement flooring is one of the first things any visitor notices, and you must ensure it has a lasting and eye-catching beauty. Depending on the style of your new basement and available budget, there are several flooring options you can choose from:

• Vinyl flooring is a beautiful and affordable option that modernizes your basement. An average-sized basement costs between $1 and $8 per square foot.
• Engineered Wood is a premium wood flooring option that adds elegance and comfort to its vinyl alternative. However, it's still a reasonably affordable option at between $6 and $12 per square foot.
• Porcelain or ceramic tiles are a more traditional style that creates a unique experience in the basement. As the most expensive option, you'll pay between $9 and $15 per square foot.
• Carpet is the only basement flooring option focusing on warmth and comfort. While it's not for everyone, good Carpet can create a wonderful basement experience, and you can expect to pay between $15 and $30 per square foot.

Painting

The colour you choose for your basement walls will significantly impact the experience and mood of the space. Lighter colours create a brighter, more airy atmosphere perfect for entertaining and lively activities.

Darker colours create a cozier and warm atmosphere suitable for relaxation and comfort. Both are great options, depending on the basement style you're looking to develop, but you can expect painting costs to range between $5 and $8 per square foot.

Lighting

The lighting you choose for your new basement will have a massive impact on the final product. Whether you choose traditional ceiling lights, pot lights, or one of the many options, you need a professional electrician to come in and get the job done right. This portion of the project is expected to cost between $15 and $30 per square foot.

Add a bathroom

Adding a bathroom to your basement during remodelling will provide incredible comfort for years to come and increase the resale value of your home. The cost depends on whether you're looking for a two-piece, three-piece, or custom bathroom, but you should expect to spend between $10,000 and $25,000.

If you're ready to take your home to the next level with a beautiful basement renovation, the team at Happy Construction is excited to get started. Contact us today to learn more about our approach, your basement finishing cost and turning it into the space of your dreams.