Renovating your basement into a legal suite is a great way to generate extra income and increase your property value. Our team at Peak Improvements specializes in home renovations for kitchens, main floors, bathrooms, and basements and is ready to help you transform your lower level into a must-have rental.
Before you can get the ball rolling, it’s important to have a good idea of your basement renovation costs, which you can determine with our Legal Suite Budget Calculator. Below, we’ll review the steps in our project estimator tool and how you can personalize your renovation with our team.
The Importance of a Firm Budget
Home renovations require extensive preliminary work and planning to run smoothly, and setting a budget is an important step. While everyone wants luxury bathroom features and high-end kitchen wares, these products cost more than some homeowners might think.
Understanding what price point you can realistically afford will give you a better idea of which features to include, upgrade, or replace and whether to choose standard or luxury-grade products during the design process.
Once you set your budget with us, you don’t need to worry about additional charges or upsurges—we offer a No Surprise Guarantee Contract that ensures we work within the scope of your budget, no matter what!
Determine Your Budget with Peak Improvements’ Legal Suite Calculator
Our legal suite budget calculator is a great tool for discovering how much you can afford to put into your renovation. On the calculator portal, you’ll run through a series of questions asking which features you want to include in your renovation. Here’s how it works:
Start with the Basics
Enter the size of your basement suite to determine your estimated base cost. Our size categories are:
- Small (Base Cost: $54,000+): 500 sqft and below
- Medium ($63,000+): 500-1100 sqft
- Large ($84,000+): 1100-1800 sqft
The base cost includes essentials like standard construction, electrical, trim and door finishes, carpet, paint, and hardware. This will give you a good jumping-off point to decide how many additional features you can include!
Don’t forget to factor-in demolition. If your basement has seen better days, you may want to include demolition services in addition to our standard renovation package.
Main Living Area Features and Upgrades
If your base cost is still under budget, it’s time to start personalizing your renovation! We offer a wide range of upgrades and features that span from standard to luxury-grade for the main living area, bathroom, and kitchen.
Some options include:
- Insulated subfloor panels
- Hardwood, stone, and ceramic flooring
- Upgraded electrical or AC unit
- Jetted bathtubs or custom showers
- In-floor heating
- Budget friendly to luxury cabinets
- Pot lighting
- Wet or dry bars
Legal Requirements
Finally, make sure to factor the legal requirements into your budget. In Edmonton, all legal suites require a separate HVAC system and entryway for tenants. If your home does not already accommodate these features, select the option to include them in your total renovation cost.
Renovate Your Legal Suite with Peak Improvements
Want to find out how much your basement renovations cost? Our project estimator tool makes it simple! Once you have the estimate for the scope of your project, enter your name and contact information into the calculator portal and get in touch with our team. We’ll contact you to discuss our services and six-step design and construction process.
Use our budget estimator today and start planning your basement renovation!