Are you looking for a contractor?

Submit our quick form and get quotes now!

Table of Contents

This is how much your basement remodeling should cost | Renovation Quotes

This is how much your basement remodeling should cost | Renovation Quotes

Interior renovationsThis is how much your basement remodeling should cost | Renovation Quotes

Basements today have become very valuable spaces within the home. Whether it’s a recreational space to relax or has extra bedrooms or storage space, making the best use out of your basement is ideal. An added plus to remodelling your basement is that it’s a great return on your investment, with the average return being anywhere from 50 to 75 percent.  

The first step of any remodel, especially the basement, is to determine whether you will need any permits to carry out the work and to call someone in for an inspection to avoid finding problems too late. Before getting started on anything else, it’s important to keep in mind that any plumbing and electrical work should be done while the basement walls and floors are unfinished.

Basements are also prone to water seeping in and causing damage, so we prepared a guide on keeping your basement dry. Lastly, since finishing the basement can be a long process, it is crucial to set out a budget with your contractor.

Average Price of a Basement Remodel

By now you should know whether you’re starting with an unfinished basement or remodelling a basement which is finished for the most part. Starting with an unfinished basement is obviously the less expensive job as you don’t have to factor in demolishing what is already there. The cost of starting from scratch will be at least $8,400 to $16,800 once you’ve included carpeting, drywall, materials and labour. Demolishing a finished basement will cost you roughly $1,800 to $3,600 which will bring the total of your remodelling to at least $14,400.

Basement Lighting

One of the simplest, yet most important elements to consider is lighting. Being in the basement naturally means being subterranean and by extension a darker space. Therefore, installing the right kind of lighting will really help to liven up your newly renovated basement. Recessed lighting is a great option for those with low-hanging ceilings. Consult our guide on lightbulbs to learn more about this subject, but we would suggest compact fluorescent light bulbs over the traditional incandescent as they are very energy efficient and give off great light.

Some Layouts to Consider for your Basement

If you want a big open concept basement, then there won’t be much need for sectioning it off. However, if you want to create individual spaces here are some ideas on what to include:

Laundry Room

Basements are a great area to locate your washer and dryer in order to carve out a unique space for doing the laundry. Having the laundry room in the basement will keep the noise of the machines largely out of sight and out of mind. You can also easily install a utility sink that might seem out of place on the upper floor.

Recreation Room

It’s always nice to give the kids a space to play that is carved out from the rest of your home. This is a great way for them to play safely and freely while getting their imaginations to run wild. For older ones, it can double as a gaming space while also being a great home theatre. This option will likely make everyone in the house frequent the basement.

Basement living room_RenoQuotes.com

Photo: Deposit Photos

Bathroom

For anyone spending extended hours in their basement, having to climb to an upper level to use the restroom can be an inconvenience. You can also use this as an opportunity to experiment with the space. For instance, if you’ve been thinking about installing a heated floor, perhaps it would be best to try it out on your small basement bathroom first.

Extra bedroom or apartment

For those with lots of space to work with, installing an extra bedroom can be a great option. Perhaps you have guests often, an elderly parent or older child and having extra rooms will serve to accommodate anyone when the opportunity presents itself. Remember, if permitting allows it, you can transform part of your basement into a bachelor apartment and use it to generate income.

Bar or wine cellar

When thinking about transforming your basement for entertainment purposes, you should consider the fact that it may become the new hangout spot for you and your friends. If that is the case, installing a wet or dry bar can be a way to tie the space together with counter space and bar stools, giving the room a sense of openness and making it feel bigger. Perhaps you’re more of a wine connoisseur and would rather have a wine cellar to store your collection. Either option will leave you with a very unique conversation piece for guests.

When planning your remodel, remember that a finished basement will give you the highest enjoyment value for your dollar which is the perfect excuse to consider your basement’s potential. Of course, any work done should not just be for investment but also for your comfort and enjoyment. Always hire a trusted professional with references to ensure you’re getting the best work done.

*All prices indicated in this article are for information purposes only and are subject to change.

Author: David Ben-Zaken

Get 3 renovation quotes for your basement renovation project

RenoQuotes.com can help you get quotes for your basement renovation project. If you submit your project to us, we’ll put you in contact with top-rated contractors. Fill in the form on the homepage (it only takes a few minutes), and you will get estimates from trusted professionals. 

Dial 1-844 828-1588 to speak with one of our customer service representatives.

Get 3 free quotes for your project!

Submit a project and get 3 free quotes!


Last modified 2023-11-07


Get 3 free quotes for your project!

Submit a project and get 3 free quotes!

Looking for something else?


Table of contents


Get 3 free quotes for your project!

Submit a project and get 3 free quotes!

Are you a contractor?

Join our network and receive real leads!

Download the price guide for renovations

We’ll be emailing you the latest market price guide for renovations.



Related articles

The latest industry news, interviews, technologies, and resources.

8 min read

N/A • 07 Nov 2023

How Does Asbestos Disposal Work?

Although asbestos is no longer permitted in the construction or renovation of current homes, it is still possible to find asbestos today in several old houses. The harmful effects of exposure to asbestos are no longer a secret, which is why asbestos removal is necessary for certain circumstances. But what is asbestos removal and when is it necessary?

4 min read

Cynthia Pigeon • 07 Nov 2023

Why Choose a Condensing Boiler for Your Home?

Are you asking yourself if and why you should install a condensing boiler in your home? Is investing in a new heating system really worth it?

9 min read

RenoQuotes.com • 22 Nov 2023

How to Choose an Eco-Friendly Fireplace

In many Canadian regions, fireplaces become the heart of the home for 3 out of the 4 seasons. The wood crackling in the hearth, the comforting smell of burning wood, and the cozy ambience of the room—whether we consciously acknowledge it or not—all contribute to a fireplace's undeniable charm.

4 min read

RenoQuotes.com • 07 Nov 2023

Working in Renovation: Land Surveyor

This a promising career path for those who have a love of the outdoors, excellent attention to detail and ease of using computers; if so, you may be interested in working as a land surveyor.

5 min read

RenoQuotes.com • 07 Nov 2023

4 Ways to Conserve Water

Many would love to believe that living on this earth means we have access to an endless supply of water. Of course. If you’re conscious and aware of our environmental impact, you’d know that this isn’t the case. Globally, the average household is the smallest consumer of water, yet each home still has a large impact. Finding ways to reduce water usage in your home is an excellent strategy for enacting environmental change while saving some much-needed cash on your electricity bills.


Looking for a contractor?

Submit a project and get 3 free quotes now!