Average cost of 500 sq.ft. basement renovation from $22500 to $47500.
The cost of a basement renovation varies depending on a number of factors However, the average basement renovation cost is between $45 – $95 per square foot Meaning, if you have a basement that is 1,000 square feet, you can expect to spend about $45,000 – $95,000 to renovate your basement (Basement packages vary, final price may be different).
At Capable Group, we take every measure to ensure that the cost of your booking remains affordable. We are upfront with our costs and will look for ways to ensure that your project is completed within budget. In addition, we will take care of all the clean-up and labour required during the refurbishment.
Costs related to basement renovations
There are a number of different costs to take into account at different stages of the renovation process. If you are installing a bathroom or kitchen in your basement, the first thing you will need to take into account is the plumbing.
Installing a bathroom in the basement
500 sq.ft. Average Basement With Bathroom Renovation Cost from $37500 to $67500.
You want to do the job well, so you need to invest accordingly. The size of the bathroom, the type of floor, the cost of bespoke cabinets and more all affect the cost of adding a new bathroom to your basement.
Create a bedroom in the basement
500 sq.ft. Average Basement With Bedroom Renovation Cost from $24000 to $53500.
And 500 sq.ft. Average Basement With Bedroom & Bathroom Renovation Cost from $39000 to $73500.
For a room to be classed as a bedroom in your basement, it must contain a wardrobe and an egress window Installing egress windows in the basement will cost about $2,600 – $5,300 The cost of installing a wardrobe will be about $1,100 – $3,000 Adding a bedroom to your basement will cost about $1,500 – $6,000 on average A large part of these costs will be the walls, flooring and paint.
Setting up a home cinema system
500 sq.ft. Average Basement Renovation Cost With Home Theater from $42500 to $97500.
If you enjoy entertaining friends and family, it may be a good idea to install a home cinema in your basement, giving you a dedicated area in the house to entertain. You can add a large screen TV, comfortable seating, good speakers and soundproof the room.
Add a wet bar in your basement
500 sq.ft. Average Basement With Wet Bar Renovation cost may vary from $25500 to $67500.
The cost of adding a wet bar to your basement will largely depend on whether you want your home bar to be custom or pre-made. Another major factor will be how large the bar will be. A custom home bar will cost around $5,000 – $20,000. Pre-made options run between $3,000 – $6,000. This cost does not include the plumbing, electrical and lighting work. Other fees associated with the installation can add an additional $200 – $8,001.
Cellar steambath and sauna
500 sq.ft. Average Basement With Sauna can be from $28500 to $62500.
The average cost of installing a sauna is between $6,000 and $15,000, depending on the size of the basement and cost of materials. Prefabricated sauna kits cost between $2000 and $4000 each.
Installing a homegym in the basement
500 sq.ft. Average Basement With Home Gym may vary from $22800 to $62500.
Home gyms can cost anywhere between $300 and $15,000. Other costs associated with your home gym include sub-flooring, electrical wiring, lighting and TV installation.
500 sq.ft. Average Basement Renovation Cost With Fireplace can be from $23500 to $53100
A fireplace in a basement can cost anywhere from $1,000 to $5,600, depending on the type of fireplace you install. A gas fireplace typically costs $2,300 to $10,000, and an electric fireplace typically costs $1,000 to $4,200.
Adding a custom bar in the basement
500 sq.ft. Average Basement renovation with custom bar can be from $27500 to $67500.
If your space is going to be used for entertaining, consider adding a bar to the room. This will make it convenient to entertain and serve your guests. Remember that refurbishing your basement area will increase the value of your home, which will be an asset if you decide to sell.