Pricing a Basement
For most of us who dream of renovating our basement, budget is the biggest factor. Some builders may have a low price on their websites, but that price may not include everything needed to get the job done.
Some listed prices don’t include all the required selections, resulting in a base price that can go up and up, until the project becomes more expensive than other builders who have a slightly higher, but inclusively priced, initial quote.
How Much Should You Budget To Build Your Dream Basement?
A mid-level basement renovation usually starts at $30,000, depending on size and specific wants and needs. The first thing to consider is, are you renovating a basement that’s already finished? Or do you have a blank slate — an unfinished basement?
For both types, these are some of the factors that will affect the cost of your renovation:
- The square footage of your basement: a larger basement will take more time and more materials
- Project schedule: how fast your job needs to be completed will influence the final price
- Your home’s existing electrical, plumbing, furnace, and HVAC systems will need to be taken into account — your basement renovation may need to be designed around them
- The amount of framing, drywall, ceiling, and flooring materials
- The installation of separate rooms, features, and bathroom fixtures
- Renovation permits
- Alterations to your basement structure due to a shifted foundation
- Waterproofing barriers
- Hanging drywall
Not All Quotes Are Equal
If you’re comparing several custom quotes, make sure they include the same items, so you can compare apples to apples.
Some of the listed items below aren’t included with other builders which means you will have to pay more. At Basement Builders all we include everything as a standard.
- Basement drawings and permits
- Handling of all inspections (Some companies make you deal with the inspectors yourself)
- Inclusion of specific model numbers and products being installed so you know exactly what you’re getting.
- Builder grade products (Some developers supply homeowners grade products from home depot or Rona) It may look the same buts it’s not.
- High-quality products as a standard (Some builders say the products they are installing are of high quality but they aren’t. This is where a builder will cut costs to look like they are offering a cheaper price when they are just offering a cheaper product)
- Finishing off your stairway at no additional cost
- Light installation and supply (Some builders don’t include a lighting budget in your development)
- Stone countertops and under-mount sinks
- Kitchen quality cabinetry (Some builders supply pre-made vanities of extremely low quality)
We break down the pricing of every component of your project in a straightforward, transparent manner — with no room for interpretation.
- Our pricing is all-inclusive, with no additional fees or costs. The price only changes if you add or remove something.
- We do not quote on lower quality materials, except by client request
- We don’t limit the number of outlets/plugs or switches
- We don’t add a markup on upgrades
- We charge the same price to install your selections, no matter what the price of your selections may be