Man cave, office, ensuite or home theatre? If you’ve ever taken on a basement remodel, you’ll know that deciding between the dozens of ways to make use of those thousand or so square feet is one of the most challenging aspects of the project. That being said, with projects of this scope, your budget can often be the deciding factor. From adding an ensuite to putting in a wet bar, here’s what you can expect to pay for popular basement reno add-ons.
The Basics: One Room Space
From drywall and insulation to flooring and finishing touches, in Canada, you should expect to pay between 20 to 40 thousand dollars for a complete basement renovation. If you stick to a one-room floor plan for your space, you won’t have to pay for the additional framing, drywall and electrical that comes with building new walls – saving you around two thousand dollars per wall. However, this will limit the versatility of your space, making this a good option for families who are desperately in need of a rec room for the kids or a couple looking to build the perfect home office.
If your basement is currently partially or completely unfinished, predict how you might want to use the space ten years downs the line. Will you be having kids? What about a basement tenant? These are all things to consider before you commit to a floor plan. A general contractor can best advise on how to make use of your square footage.
Bedroom: $80-$200/sf + $2,000 Egress Window
Adding a bedroom tops the wish-lists of many homeowners. Not only is this space great for visiting in-laws, but it also increases the value of your home by around 100 dollars per square foot. This project will likely run you between 80 and 100 dollars per square foot. One hidden fee every homeowner should be aware of is the cost of adding an egress window. Safety regulations specify that in order to have a bedroom, your basement must have at least one other exit point besides the main stairs. Adding an egress window will cost between two thousand and five thousand dollars, and requires the help of a windows and doors specialist.
Bathroom: $3,500 – $15,000
Adding a bathroom is another popular project for homeowners looking to upgrade their basements. Because this project requires plumbing, it can get expensive, especially if your walls have already been finished. The good news is that you can save money and use your upstairs plumbing if you build in the right spot. Contact a bathroom installation expert to determine the most cost-effective and least invasive option for your space.
While a full bathroom will cost you between eight and fifteen thousand dollars, a powder room or half bath can be installed for around three thousand dollars. Adding a powder room in your basement is great for homes with limited space on the main floor. Also, basement bathroom renovations are typically much cheaper than main floor alternatives, which will typically cost between ten and twenty thousand dollars.
Entertainment Rooms and Home Theatres: $1,300 – $10,000
Having some kind of entertainment system installed is another fantastic option. Be it a flat-screen TV and a cozy sectional or a projector, screen, and recliners, this option is possible for homeowners with a range of budgets. Create a comfortable space with carpeted floors, which, by the way, are warmer and cheaper than laminate and hardwood. Hire a carpenter to construct custom built-ins to store not only your TV and other electrical, but also your kids’ toys.
This project is particularly cost-effective when paired with a main floor remodel. Move your dated but well-maintained main floor sofas and TV downstairs and voila – you have a space perfect for the whole family. From tech to electrical, contact a general contractor who can explain exactly what you’ll need.
Wet Bar: $2,000 – $12,000
One last addition to consider is a basement wet bar. Depending on what fixtures you want, this project can cost up to twelve thousand dollars. Once again, consider what you’ll be using the space for. Do you need a full-sized fridge or will a mini fridge suffice? Will you need a sink, custom cabinets and marble countertops? Consult with a general contractor about everything from fixtures to materials in order to get a precise idea of what you’re looking for.
Unfortunately, when it comes to basements remodels, it usually takes a little more than some insulation and wiring to transform your dark and dingy foundation into a versatile living space. The great news is that the right pro can transform your basement into a space fit for work, play and all kinds of family fun. Start making use of all the square footage your home has to offer – contact a pro today!
Cover image courtesy of Forbes.