What is the average cost of basement renovation? PART III

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 3 of this instalment, we will continue to discuss costs associated with your renovation.

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.

Installing Electrical Appliances

About $50 to $100 per hour is what you can expect to pay somebody to install any electrical appliances that require a professional. Some wiring is required in your basement to make sure the room is able to support your electrical needs. To accomplish this, you will need to hire a licensed electrician to make sure you don’t have any electrical issues with the wiring. The cost to hire an electrician will vary depending on the area you live in and their level of expertise.

Other Renovation Costs

Renovations don’t always require adding rooms to the basement. There are other ways you can transform your basement area into a more functional space without tearing down or erecting walls.

Adding a Home Theatre

If you are someone who enjoys entertaining friends and family, it may be a good idea to install a home theater in your basement. This will give you a designated area in the home to entertain. You can add a big screen TV, comfortable seating, good speakers and make the room soundproof.

Installing a bar

If your room is going to be used for entertainment purposes, consider adding a bar to the room. This will make it convenient to entertain and serve your guests at the same time. Keep in mind that renovating your basement area will raise the value of your home, which will be an asset should you decide to sell.

Significant Room

Turning a basement into a useful room like a home gym or home office is a great way to utilize the space. with so many ideas basement renovation ideas, capable group and have steer you in the right direction and help you maximize the space in your basement and tailored to your family’s needs. I expect are well-versed and respectable and well respected among their peers and throughout the industry.

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