Are you thinking about upgrading your basement? Knowing what to expect in terms of cost is crucial, whether you’re looking for a secondary suite, extra living space, or a home gym.
Basement renovations can vary widely in price depending on the size, finishes, and scope of the project. This blog covers the key cost factors for a basement renovation in Edmonton and offers insight into how to make your budget work!
The Average Cost of a Basement Renovation In Edmonton
The cost of a basement renovation can vary greatly depending on the scope of the project and the requirements of the space. It’s important to note that these are only averages, and the cost of your project may be higher or lower depending on your specific needs and circumstances
The best way to get a clear number is to use our project estimator or request a custom quote.
Let’s take a look at the average cost of different types of renovations:
- Cosmetic refresh: $25,000 – $40,000
- Full Basement: $45,000 – $90,000+
- Legal Basement Suite: $80,000-$120,000+
The cost of basement renovations can vary greatly depending on the scope of the project and the specific requirements of the space. While a simple cosmetic refresh might only cost between $25,000 and $40,000, a full basement renovation could range from $45,000 to upwards of $90,000.
Factors that Affect the Final Price
After determining the baseline costs of a project, there are other specifications that can impact the price. Let’s break down what can cause the variation in price:
- Size and Conditions: Unfinished basements or previous water damage
- Layout changes: Adding or removing walls or a bathroom, or a kitchen
- Plumbing and Electrical: This can be the most costly if the concrete needs to be cut.
- Finishes and Fixtures: Flooring, lighting, cabinetry, and paint affect the look and cost of a space
- Permits and Legal requirements: Particularly for a legal basement suite
How to Stay on Budget
Working with a design-build team will help you avoid the creeping cost increase that many people encounter during a renovation. It’s important that you prioritize what matters most to you. For example, spending more on proper plumbing and electrical systems, because they are more expensive to replace, gives you a chance to save on things like the basic finishes. You can still find quality finishes at a lower price, and they are also easier to replace..
For best results, plan everything in advance, from the design to the materials to the permits. The more prepared you are, the better you can keep the cost of your basement renovation on budget. Our design and build team is prepared to help you find the perfect balance.
Why Work with Peak Improvements
The Peak Improvements team is your local expert for Edmonton building codes and real estate value. Our design-build process is proven to help avoid surprises and delays. We pride ourselves on transparency and support you and your renovations every step of the way.
Ready to explore what your basement renovation might cost? Contact Peak Improvements for a custom consultation, or use our project estimator tool to get started today!