Thinking of converting your unfinished basement into a living space? Here’s an average price, taking into account the various factors that will vary the total bill:
Prices for the renovation of a basement
First of all, it is important to establish what is included in the costs associated with the development of a basement. First, the contractor will likely have to demolish, excavate, and trim to prepare the space. Then, the reconstruction will involve gypsum application, joint drafting, floor covering and finishing. Generally, the development of a basement requires renovation work at the level of electricity and carpentry.
Finally, the price also includes the installation of a floor covering and the application of several layers of paint on the walls.
How much does a basement development project cost?
For a basement of 700 square feet or more, on average, the total price is around $ 75 per square foot and we rarely get below $ 70 per square foot.
- The development of a 700-square-foot basement will therefore be approximately $ 52,000.
- If you are building in the basement of 800 square feet, the price will be around $ 60,000
- For a basement of 900 square feet, expect to pay approximately $ 67,500
And so on…
Important to consider: the factors that make the price of a basement development project vary
Please note that these prices are never fixed because all projects can have their independent characteristics. The factors that can influence the price of work up or down are multiple. For example: the demolition stage may be larger than the average case. You may also have to destroy or modify bearing walls (by building new beams or columns).
Often, to make a basement habitable, it is necessary to work on the level of the insulation and the soundproofing of the walls and the ceiling. Depending on the quality of the materials already present, this will affect the costs. And if the floor remains on the main concrete slab, a new floor will have to be installed. If the process is complex, this part of the work can quickly push up the bill.
Other elements that could vary the final price of the development of your basement:
- Install a new staircase
- Fit a bathroom
- Enlarge an already existing part
- Create new openings
Of course, the choice of the quality of materials can vary the price of the works completely. However, if you use high quality materials, the value of your home will increase accordingly.
Finally, the age of your building will also have a major impact on the level of complexity of the work and therefore on the duration and the total cost of the work.