To renovate basement in Toronto expect to pay in average $62000 for labour and materials. These costs are for average size Toronto basement of 900 sq ft and medium to relatively modern style finishing. Luxury features like sauna, home theater or winery will add extra costs to basement renovation project.

ALBO Renovations has been working in South Ontario for over 10 years and the majority of our work is basement renovations Toronto for homeowners or builders.  We have been on top spots of most review engines such as Home Stars. Often enough we receive an inquiry about basement finish and the number one questions is how much does basement renovation cost in Toronto? There is no simple answer to that without knowing the details of the house and what finishes customers want. The price for the entire project depends on schedule, finishes, difficulties and extra work may be needed, which is not seen at first (such as cracks in foundation, electrical deficiencies, or even water leaks.)

Detailed basement renovation quote

There is only one way to give an accurate estimate on the basement renovation project and to do that we will need to sit down with customer

get all the details of finishes he wants to see, select tiles, flooring, baseboards, windows and all other materials for washroom. ALBO Renovation contractors need to know the exact square footage of floor, linear footage of all walls that will be set up and maximum tome for scheduled work. This type of estimate required owner of the house to know many details and have most of the things planned out.

Aside from measurements and finishes to perform most of basement renovation you will be required to get a permit for bathroom, separate entrance and making your basement a legal apartment. There are few legal criteria to meet and to give an exact quote for basement renovation, all of them have to be considered. If the building is old and electrical work was not performed in the basement for a long time electrical box has to be changed for bigger one to install the pot lights. So to give an accurate detailed quote our basement reno professionals have to work with you on all above mentioned details.

Renovation price by square footage

Another way of estimating the basement renovation job is by square footage. The number you will receive from ALBO Renovation company will include the cost of materials, deliveries, disposing  garbage and the labour. As we all know cost of materials for renovation increase dramatically over the years and cause the entire price of the project to go up.

• Small Basement up to 600 sq ft would cost around 45$ per square
• Average Basements 600 to 1000 sq ft cost close to 40$ per square
• Larger Basements 1000 sq ft and up can be as low as 35$ per square

These square footage prices include average quality material and open concept layout. All other fixture and add-ons will be extra in the quote.

For example:

Average size basement base costs – $40,000

Extra walls – $2000+

Bathroom – $8000+

Stairs – $4000+

Kitchen – $12000+ 

Fireplace – $6000+

Bar – $10000+

Cost of labour

If owner wants to act as a project manager is very knowledgeable he can use the quote from renovation contractors that will be calculated simply for the labour performed. This will be the cheapest method of renovating basement at your home in Toronto, but it does require skill and a lot of work by homeowner. When company is hired to perform full renovation of the basement the charge is for the time spent on the job from start to finish. So if it takes 3 weeks to finish your basement by crew of workers company such as ALBO Renovations will ask you to pay accordingly.

Obviously the price will wary due to amount of work and difficulty. But to give an idea if it was estimated that company can finish basement in 3 weeks and owner takes care of all material purchase as well as deliveries it would cost $30.000 to $35.000. Most of professional renovation companies in Toronto do not like to give prices based on labour cost because they depend on home owner’s ability to control and schedule the project. Smaller mistakes can delay work and lose money.

Working with your budget

If you have been thinking of renovating your basement for a while you probably have established a budget for it. Cannot say this for all the companies but we certainly prefer to work with budgets. This way we know how much money we can work with and schedule everything properly. ALBO Renovations will be able to identify and suggest finish qualities for the job and if money allows to do the best we certainly will do that. Saying that we will work with your budget we have to add that it has to be reasonable.

ALBO Renovations likes to do quality basements with latest designs therefore we prefer to work with higher budgets. We can suggest a price for high end basement renovation which would be:

Luxury Basements prices

• Small Basement up to 600 sq ft would start from $45.000
• Average Basements 600 to 1000 sq ft cost close to $60.000
• Larger Basements 1000 sq ft and up can be as high as $80.000 and up

Give us a call if you have a budget or would like to know how much your basement renovation would cost and our professionals will give you a detailed quote on all work.

Additional Articles about Basement Renovation:

• 9 steps when doing basement renovation
• How Long Does it Take to Finish Basement
• How much does basement renovation cost
• How to find good contractor for basement renovation
• How to make money with your basement
• Basement Bathroom Ideas
• Basement Stairs Ideas
• Basement Subfloor Tiles Everything You Need To Know
• Be Careful Hiring Basement Renovation Companies Who Promise to Finish your Basement in 2 weeks
• Finishing A Basement Is It Better To Do It Myself Or Hire A Contractor
• Go Green With Your Basement Renovation
• Ideas Of Your Basement Theatre
• What Are Some Popular Basement Bar Ideas
• What Are The Guidelines for Renovating or Constructing New Basement
• Why Basement Renovations Are Popular In Toronto
• Basement renovations are very popular in Toronto
• Bylaws and inspections on legal basement units
• Changes in your house after basement renovation
• Converting basement into legal apartment in Toronto
• Things to do before starting basement renovation