Most people believe that basement renovation or finishing is an expensive process. This has contributed to the high number of incomplete and unfunctional basements. Contrary to most people’s belief, basement renovation costs are manageable. For an 800 sq foot basement in Toronto, you can pay about $70,000 for both labour and materials.

The price changes depending on the amount of work needed in the basement area and quality level. To figure all this out, you should hire a reliable construction companion like Maserat. We provide services in Mid and Downtown Toronto. To give you a rough idea of the costs involved in renovating the basement, here are some of the processes;

Design Stage

Before any work commences, there needs to be an understanding of how you want to transform your basement. You present your estimated budget, your vision of the space, timelines, among other preferences. The designers may request you to pick out your preferred materials. After this, the next meet-up is a presentation. The designers present various drawings that show how space will turn out. They make necessary changes till they satisfy your demands fully.

Inspection and Permits

In Toronto, you need to seek approval before conducting any construction or demolition process. The inspection team will look for red flags like cracks on the foundation, which add to the cost. An inspection ensures you avoid unnecessary surprises in the middle of renovations. The inspectors also inspect the drawings to approve the proposed changes. For example, if you plan to add a bathroom, the Toronto Building Staff must ensure the plumbing work complies with the regulations. For better preparations, prior research on the rules, procedures, and the permit fee is advisable.

Framing and Wall Installation

Framing sections off the basement to create spaces for different functions. The cost of framing depends on the basement area, the number of units, the amount of demolition needed, and whether you are soundproofing. The type of drywall you choose also affects the price due to the difference in material and installation process.

Plumbing and Electrical Works

Plumbing costs only apply if you plan to include facilities like bathrooms, which require water. In most cases, the plumber needs to make openings in the walls to make the necessary connections. Electrical works are essential since you need lighting in the basement. Most electricians and plumbers charge per hour. You may consider getting turn-key service from your contractor to add all the works to the total price.

Finishes and Millwork

Finishes give you a chance to implement your sense of place into the basement. You get to pick how the floor is polished, the wall painting, ceiling treatment, fixtures on the cabinets and counters, the stairway aesthetic, among other features. The cost depends on the scale and quality. For example, painters charge per hour. Thus, the cost is dependent on the sq. ft and the quality of paint.

Your choices determine your cost. However, do not limit yourself to reduce the price of the renovation. A basement facelift is a worthy investment as it increases the value of your home tremendously. Find solutions like phased renovations to reduce your one-time charges. There is always a way around it, especially when you have help from professionals.

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