Just wanted to know how much would be the cost? Also, if someone could give the break down of the cost?
probably looking at about:
- $7,000 for kitchen (excluding appliances),
- $7,500 for bathroom based based on a 5'x8' bathroom
- $5,000 for flooring (laminate & ceramic)
- $7,000 drywall supply & install
- $10,000 electrical, plumbing, ventilation
- $1500 insulation
- $3,000 window trims, doors and hardware, baseboards, moldings etc
This price is considering that basement is already framed. This is mostly just finishing. A detailed estimate would be required but this is only a rough idea.
The costs to build a basement apartment with a kitchenette and a washroom will vary greatly between contractors. The only real way I can price out a job like this would be to see the space, address any issues regarding permits, problems, repairs needed prior to the build starting, sit down and discuss your expectations and style for the space, and create a truly unique and personalized estimate based on your choices and your house requirements.
You will often hear people throwing around numbers like $35-$45 a square foot to finish a basement, but these numbers mean nothing because you do not know what you are getting for those prices, they are guidelines and only should ever be used as such.
If you would like to submit pictures of your basement, sketches of dimensions for the space, expectations, materials, and so forth, you may get a reasonably close guess, but nothing very accurate.
You need to have contractors come out and see the space, and always remember you get what you pay for. A reputable contractor will carry liability insurance, WSIB, have employees that work for them and pay them accordingly. Your house is your biggest investment and should be treated as such.
During the estimating process, as a rule of thumb, you always throw out the lowest, and the highest bids and truly focus on the middle bids and see who has the qualifications, the ability to work with you as you will spend a lot of time with them discussing, changing adding and so on.
I hope this helps some what.
Thanks for your replies.
I'm planning to buy a new house preferably with a finished basement, but at my price range I'm coming close to houses with unfinished or partially finished basements.
I liked one house a lot and it has an unfinished walkout basement , I'm attaching the picture of the basement. Any idea how much would this cost ? As, being a first time buyer I don't have much knowledge about stuff so please bare with me.
There is one another house I like, the basement is finished without kitchen and there is no separate entrance as well.
Is it also possible to build a dig down entrance and how much that would be ?
I just want to know the cost for the work then required after purchasing the house your advise would be greatly appreciated.
To try to provide you a reasonably accurate quote with out seeing the space. The existing location of plumbing rough ins. Existing location of electrical. The panel and room to expand service from it. The design of the space. Decisions regarding insulation to be used on your project, Sub-flooring products and finish flooring materials. Choosing trims, finishes. Choosing style and number of pot lights or other lighting sources. Ceiling finish. Are you adding sound proofing materials in the ceiling?. What are choosing for cabinetry. And all of the finishes in the kitchen or bar area. What are your choices for all of the materials, size and layout of the bathroom area. The list goes on and on.
You have to sit down with a contractor with a lot of experience and go over everything with them. Then you can get a quote that means something.
By the way, you mention a couple of houses you are looking at. Sit aside the upper floors of the properties, as I have no idea what they consist of, or what you are looking for in a home.
But you mentioned one of the basements is a walk out. This is a far more interesting space to finish. And the basement will also add more value if and when you sell than a basement without a walkout.
Hope this helps.
As some contractors have already stated the cost of the basement will depend greatly on a number of things. Do you have a budget you want to work with? If so - stick to it. It can be done if you stick to it and work closely with a good contractor. Unless you have no budget and are willing to spend thousands on "stuff" then get a quote freely online.
Your best bet is to have a few good contractors come out and price for you when they can visually assess the area being done. Also it gives you a good idea of who you want to work with.
James is right on the money with his post, as he is also re-stating what I wrote in the original post. If you are looking at a few different houses, how about a new approach. How about finding a good reputable contractor that you think you would work well with, and have him charge a consulting fee and he can accompany you to open houses, or see potential houses, take some measurements and come up with a cost to renovate prior to purchasing.
Sort of like the new Income Property show, this could be very beneficial to you, and in the end, if you don't buy any of them, your only out the money you spent on the consultations, opposed to finding out its too late once you've purchased a home and are in way over your head.
You are always welcome to give any of us a call to ask questions as well, or at least I know we are. Questions are sometimes easier to answer when talking to a person and understanding the full scope and story.
Hope this helps again.
As for eugene, I would love to hear what you can give for that flat $20k and the size of the basement square footage that you can do.
Thanks for educating me and pointing me to the right direction. There are so many things to consider, and Alex I really like your idea. I guess I will use the same contractor for my home inspection as well.
Around 40 to 45K to finish the basement to the basic standard.
To put an entrance in the basement from outside you will need a permit. Drawing to be approved by the city. it will cost you about 10K to 12k to do the entrance to the specs and city codes. Drawing from the architect will cost you another 800.
As a rule of thumb I always advise potential buyers to buy the unfinished basement and develop it to their own specs. And if you choose to buy the finished basements make sure it had the building permits and inspections done as some DIY jobs I saw were complete disasters.
Consider infloor heating when doing the basement as it's the best investment in a long run.
Search the TrustedPros directory and discover the best contractors in your area.Find your home service pro