What is the average cost of basement renovation?

In this 3 part series, we look at costs and considerations associated with renovating a basement. The cost of renovating a basement is based on a number of factors. However, the average cost to renovate a basement is $35 – $55 per square foot. Meaning, if you have a basement that is 1,000 square feet, you can expect to spend about $35,000 – $55,000 to renovate your basement. Additional variables affecting how much the renovations will cost include the scope of the renovation project, how you plan to use the space and the types of materials you choose to use.

Remodelling refers to the upgrading of a room – in this case, a basement – that includes things like furnishings, windows, walls and floors. While the cost to renovate your basement may add up, many people are often surprised at how affordable it can be.

In PART 1 of this installment, we will be touching on a few considerations costs associated with your renovation.

Is there humidity in your basement?

It’s normal for your basement to be a little more humid than the rest of your home – especially if it isn’t heated or air-conditioned at the same temperatures as other rooms. Though, before moving forward with any basement renovation plans, it’s important to be sure that it isn’t excessively humid and that water has not infiltrated into the basement through potential foundation cracks. Noticing that your basement is home to excessive basement humidity (i.e. mold and other bacteria) once renovations are completed is just devastating. So, be sure to check the humidity levels before starting your project.

Costs Associated with Basement Renovations

There are various costs to consider at different stages in the renovation process. If you are installing a bathroom or kitchen in your basement, the first thing you need to factor in is plumbing.

Plumbing

You’ll need to have a connection to a water supply and sewage lines for your bathroom. This will require hiring a professional plumber and paying for the costs associated with establishing the water and sewage lines needed. Sometimes walls have to be opened up to facilitate a water or sewer line that is convenient and may cost less.

Pace Realty’s Maintenance Team can help you with your yard and other home maintenance & renovation jobs. Call 250-562-6671 or email us at maintenance@pacerealty.ca today for a free, no-hassle quote.

Mary-Jean (MJ) Jacobson loves to talk real estate! She is passionate about helping clients increase the value of the assets. She is a Professional Property Manager, Strata Manager, Real Estate Sales Agent and Licensed Managing Broker. She writes a series of articles blogs and whitepapers about the real estate and property management industry at ASK MJ