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What Does a Basement Renovation Cost in 2021?

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Finishing a basement can be a huge undertaking, which is why many homeowners have delayed fixing up their basements as much as they can.

Treat your unfinished basement as a blank canvas, empty and ready to be filled with your designs. From a new bathroom to a high-tech entertainment system, there are endless possibilities as to what you can add to your basement.

Whether you have an unfinished basement waiting to be used or a finished basement in need of remodeling, there is always room for improvements and renovations.

The cost of a basement renovation will mainly depend on the types of finishes you’d like to have and the contractor company you’re working with.

Basic Finishing

As the name suggests, a basic finishing is a type of basement renovation that refers to turning a once unlivable space into an area that everyone can enjoy.

Framing, walls, and floors are added, in addition to plumbing and electrical. Since this is the most rudimentary type of basement finishing, the cost will be on the lower end of the spectrum.

The final price is influenced by several factors, including the size of the basement, the types of materials used, and the quality of the finishes.

You should expect to pay anywhere from $10,000- $20,000 for a basic finishing.

Foundation Repair and Waterproofing

Having a sturdy foundation is vital before beginning any basement renovations.

Before starting a renovation project, be sure to get an inspection for your foundation, as any structural damage can be detrimental to the result of your new finishes.

Repairing any damages to the foundation can cost nearly $10,000.

While it may not be what you want to invest your money in, it’s crucial that the structure is sound and can support your home.

Waterproofing Your Basement

Basements are the most susceptible areas of the house for water leaks since that’s where all the plumbing is exposed.

Just like you must ensure your foundation is structurally sound, you need to check to see if any areas are suffering from water damage or have water leaks.

Waterproofing your basement is an important investment as it will help prevent any damages from occurring later down the line.

This type of renovation is less expensive than fixing the foundation of a home and can cost anywhere between $5,000 to $7,000.

Obtaining a Permit

Nearly all basement renovation projects require obtaining a permit, which helps make sure all the additions are completed up to code.

While the cost of getting the permit may not be quite as high as other renovations, it’s often forgotten about and not taken into consideration.

The application fee for any type of renovation permit is $80, and the price increases depending on the type of work that will get done.

Professional Basement Renovation Contractors in Ottawa

Finally gotten around to fixing up the unused concrete space in the lower level of your home?

Whether finished or unfinished, basements have plenty of potential to become a space that can be enjoyed by everyone. Basement renovations are a long process, so to ensure everything goes smoothly, there are a few factors to take into consideration before starting a project.

Our professional contractors at March Homes are backed by years of basement renovation experience and are ready to help you transform your basement from a dreary and cold storage space into an area you’ll be proud to have for years to come.

Reach out to us today to learn more about how we can help with your basement renovations and finishings.

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