How much it costs to finish a basement in GTA ?

The average cost of basement finishing in GTA is $35 to $55 per square foot, So on average a 1,000 square feet basement costs $35,000 to finish. If you have decided to add more living space to your home and at the same time increase your resell value then Basement finishing is the option that you should pursue. Framing and flooring, bathroom and shower are the most important items on basement finishing budget . Lets break down the budget to pieces:

Basement Framing & Drywall Cost

Before walls and flooring be laid out, First the basement must be framed. Framing an unfinished basement can be very expensive since require a large amount of labor and materials. While the size and number of walls dictate the exact cost of any project, on average framing cost $6 per square foot including labor and materials. Once framing is done and passed the inspection you , Contractor will install drywalls which costs on average $2 per square foot.

Basement Flooring Cost

When it comes to flooring a basement many options are available based on your budget. Carpeting is the most economical option and can easily be installed by any professional. Other popular options to flooring in the basement are the use of tile. Although Tile can be a more expensive option due to both material and labor costs, on the other hand tile can be very visually appealing in any newly remodeled basement. Overall your flooring cost depends on materials you choose and can cost between $3 to $8 per square foot

If you’re trying to significantly drive down costs, using paneling for the walls is an effective option. It’s very light, inexpensive and pre-finished in a variety of different sizes and types. Labor costs may also decrease because paneling is easier to transport and work with.

Additional cost considerations

• On estimation cost usually one bathroom finishing is considered . If you require additional bathroom, add $5,000 to the total cost of the basement finshing project.
• A kitchen in the your finished basement will cost at least $10,000

Line Item	Price	Percentage of overall cost
Framing	$6,000	17.42%
Electrical	$1,500	4.35%
Audio/Visual	$300	0.87%
Bathroom	$8,000	23.22%
Flooring	$3,000	8.71%
Drywall	$2,650	7.69%
Trim and Doors	$2,000	5.81%
Paint	$1,000	2.90%
Kitchen	$10,000	29.03%

How long it takes to finish the basement?

A professional basement finisher should not have any problem with finishing the basement on average of 4-5 weeks.

Basement Finishing Permit

Any project involving electrical, plumbing, or turning the basement into a livable space, requires permits. Plumbing must be done to code for proper drainage to avoid health issues. It also has to ensure flushing certain waste back into the sewer Failure to obtain proper permits can result removing (demo-ing) any current finishing work or remodeling already installed. You could also face possible fines. A “stop work order” may be issued, which usually causes double the fees when you do, eventually, apply for the permit(s). If you have to file an insurance claim and can't produce any permits, the insurance company may deny the claim.

Foundation Inspection

Your foundation should be inspected prior to finishing your basement. You don't want to cover up any structural damage that would be identified in an inspection by installing framing and drywall. If items such as pipes have rust, the problem may be humidity instead of a leak, but it can be just as damaging. Waterproofing the basement and using a dehumidifier helps reduce dampness and the risk of mold development.

Basement finishing ideas

Rental unit : if you are one of the many people who have an unused basement space, then you may want to consider converting it into a basement rental unit. Not only will the space be put to good use, but it will also provide a source of supplemental income.

Home gym : It would be convenient to have exercise equipment right downstairs, but realize there are no excuses for not getting to the gym then! You’ll need enough room for a cardio machine, a few dumbbells, an exercise mat and few other items. Adorn the walls with full-length mirrors and you’ll forget you aren’t at the local gym!

Office : Basement is a great place to set up an office—out of sight from the rest of the house, so you won’t even have to keep your desk clean if you don’t want to.

Playroom :If you have small kids in the house, chances are you feel like you are constantly picking up toys. Why not turn a portion of the basement into a playroom that can be left untidy at times? Ensure the room is safe so you won’t have to worry what the little ones are getting in to.

Wine cellar :Wine cellars are becoming more and more popular. For the ultimate look, arrange wooden cases obtained from your wine merchant, an empty barrel to use as a wine-tasting counter, wooden signs for decoration, and a pair of wrought-iron gates, calling to mind the most prestigious European vineyards.

Consult experts upfront

If you are planning to hire an architect or designer for you major renovation, getting him/her on board early on may help to save money on your project by mapping out more of a clear plan to avoid changes mid-stream. In general, hiring licensed professional will prevent insurance headache later on With home renovation.