Budgeting for a basement renovation, no matter how elaborate, can seem daunting when you have never been involved in one before. At Peak Improvements, we understand that budgeting is the most essential first step in preparing for a basement renovation. With the rates of inflation rising, having an appropriate budget set aside for your home improvement is the smartest move. Then how do you create that budget without prior experience? Peak Improvements has created a basement renovation calculator that can help you determine how much you need to budget for your next renovation.
Try the calculator for yourself, or keep reading to learn more about how this tool can help you by continuing to read below.
How the Calculator Works
To use the calculator, there are a few pieces of information that you will need on hand.
- Your basement’s square footage
- An idea of the renovations you want to make
- Whether or not you will require demolition
- How many bathrooms your basement has
By plugging in the appropriate information, you will get an estimation of how much a basement renovation with Peak Improvements would cost. Of course, this is a base estimate. The types of finishings you choose, along with the additions you want to make, will add to the budget.
Let’s create a few scenarios to help visualize what this might look like for you.
Scenario: Average Single-Family Home
Basement square footage: 560 sqft (medium size)
Total proposed cost: ~$80,000
This family wants to completely redo their basement, complete with upgraded electrical and added insulated floor panels. They want soundproofing and hardwood flooring, and they are adding a bathroom to the basement. The bathroom will be simple, with one sink and a tub/shower combo.
Without knowing the details, we can approximate that it will cost this client around $80k to complete this project with us. Because of the extra elements of soundproofing and in-floor heating, the cost for this basement renovation will be higher than a more simplified one.
Use your own information in the basement renovation calculator to get an approximate budget for your project, and play around with it to figure out what you can do for your budget.
If you are looking for a full basement development, contact us.
Work With Peak Improvements
Peak Improvements strives to establish strong communication with each of our clients: no hidden fees or changes to the budget without your full knowledge and consent. Our knowledgeable team can help you make the ideal environment for you and your family.
After grabbing your calculations, contact us to relay the information to schedule an appointment with our team. We’ll come to visit you and collect the necessary information to create an accurate scope of work and budget for you to review, along with preliminary draft designs.
Let’s talk about what you should expect from your home renovation, and we can work with you to create an accurate budget and proposed timeline. Send us a message today.
