The real estate professional confirms that of all the major improvements in the home, none is more efficient to add real value to your property than to convert an unfinished space into a comfortable living space. This is one of the few home improvements that not only recovers renovation costs, but can also add more value to the home than you spend on the project.
The Basic Finishing Options
This option refers to taking a basement that is completely unfinished, then adding the framing, the sheetrock and other elements to turn it into a finished living space. Many people are surprised to know that this is actually a cheaper option than a large-scale remodeling of a basement that is already finished. The reason for this is that it costs more to demolish and rebuild than to start from scratch.
A basement finish involves framing, executing any necessary mechanics, installing finishes of walls, ceilings and floors, and painting or wallpapering. If you hire professional such as “basementbro.ca” to help you, the costs can be much higher for larger spaces but if you will hire professionals for basement renovations & finishing in Mississauga cost may be on discount. Keep in mind that these average costs do not include important plumbing or electrical work. If your space will include a new bathroom or other special features, these costs must be added separately.
The Complete Remodeling Option
This option refers to a project that involves taking a basement space that is already finished, altering the design of the space and completing the finishing work. Basement renovations & finishing in Mississauga provide work in a basement generally involves some updates to cabling and HVAC systems as part of the basic cost package. However, the addition of new pipes, such as when a new bath or wet bar is installed, will increase the basic cost.
Guest Suite: This special version of a basement remodel consists of adding or remodeling the bathroom and installing a kitchen with cabinets and the necessary electrical updates. One of the most expensive options when it comes to remodeling a basement, but it is also one of the most convenient.
Estimating Ala Carte
If you want to estimate more accurately, it is possible to make an estimate of a line element, using these approximate estimates of the costs of various elements of a basement finishing project. These estimates assume the professional installation in a region with average labor costs.
- Permits: Vary greatly from one region to another, with typical costs ranging between $ 100 and $ 1500 for basement remodeling.
- Ceilings: Range between $ 1 and $ 6 per square foot, depending on the complexity. At the lower end, there are ceilings that should simply be covered with wall panels and finishes. But, all too often, there are framing works that must also be done to box the heat ducts or lower the roof to operate the mechanics.
- Foundation work: Can cost around $ 10,000 if substantial repairs are needed, such as fixing a displaced base.
- An exit window: Where required, costs, on average, $ 3,500. Exit windows may be required if any room in the basement is used as a bedroom.
- A closet: Which is a necessary feature for a basement room to be officially classified as a bedroom, costs between $ 1,200 and $ 1,900.