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What would be the basic cost of finishing a "full" basement that is about 650 square feet big?

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Posted by: from Milton
12/9/2013 at 1:10:53 PM

We'd like to finish our full basement. It is about 650 square feet big. We wanted just an open-space basement, flooring to walls to ceiling. Just a basic done basement. We don't want to spend $$ on it, as we're thinking of selling our home in the near future.

Is it possible to do for a budget of $5000?

Thank you!

REPLIES (10)
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Rachid from Domilya Group in Oakville
Date/Time12/9/2013 at 2:17:15 PM

Hi Alex

Unfortunately this is Impossible. The materials alone and doing it right regardless of you selling it or not will be 6500 for basics. Now labour and what your basements looks like now is another thing. Sure you can go buy all your materials and shop around and sabe that way. But u must put proper drywall and under pads for the floor. Remember the basement always has lots of moisture.

Rachid

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Date/Time12/9/2013 at 2:51:29 PM

Unfortunately NO!!! That's not even cover the materials cost?

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Date/Time12/9/2013 at 3:41:30 PM

Milton,

I agree with the others. What I would suggest, based on your budget, is to do it in stages. You can ger the framing done and some of the basics (wiring plumbing lighting, etc.) and, at least you would have an idea as to how things look.

If you want changes, this would be the time to make them. From there just plan and save for the next stage.

Good luck.

Regards from Alberta.

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Date/Time12/9/2013 at 6:07:24 PM

Sorry,

But tha does not even cover all the materials for a low end finishing of the basement. And by low end I mean nothing fancy, but well built.

You will have to spend more than double that. You would have to be willing to spend about 12.000.00 to 13,000.00 for good basic.

If you are selling soon, I would not bother. If it has no wow factor, it is not going to add much value to the house.

Regards,

James Fram

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Babak (Bob) from AV Services in Montreal
Date/Time12/9/2013 at 7:44:34 PM

At least 12000 up to 15000. If u do all the job ur self maybe 5000.

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Date/Time12/9/2013 at 7:52:52 PM

Hi,

If you are selling the house in near future do not finish your basement as the buyer may not like the planning and that way you may have potential customer turned down. Call Real Estate and find out what is being sold in your neighborhood and then take your decision.

My wife is a real estate agent and I exactly know how buyers look at the properties.

Just my thought.

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Robert from Electrilight Ltd. in Oakville
Date/Time12/9/2013 at 7:59:37 PM

As all electrical work in Ontario, only electrical contractors can do electrical installations and ESA permits and inspections will be supplied to the homeowners which can be used for insurance purposes and in the event of an electrical problem, we would be responsible for the work carried out.

The electrical alone will cost from $2000-$3500 from an ESA registered electrical contractor.

Electrilight Ltd. Oakville

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Date/Time12/9/2013 at 9:39:43 PM

Hope you dont take this the wrong way but to use professionals, licensed trades, an incorporated/registered company, WSIB coverage, your cost would never be less than $22,000, it will rise from there depending on the cosmetic choices you make. If you do have some doing it for less than $15,000 then congrats......you just opened to door to problems or the project not being finished.

Do it right, hire a pro, get rid of these "fly by night" contractors, they are ruining this industry. Remember, its your house, your safe place for you and your family. Do the right thing and be protective of your home, hire the pro's.

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Andrew from A True Handyman in Whitby
Date/Time12/10/2013 at 5:36:08 AM

No it can not be done for 5000.00, but here is something to consider. What ever money you do put in to the basement you will get back ( with in reason ) and would make your house more attractive to more home buyers...........but beware, there is a lot of people out there that say they are a contractor and yet I would not let them build me an out house, so do your home work and find the right contractor, do not get the contractor with the lowest price! Good contractors will always be within a 1000.00 dollars of each other.

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Mat in Mississauga
Date/Time1/12/2014 at 11:13:57 PM

$18000 to $20000. Basic. Commercial carpet glued. You will get your money back as this becomes a living space. Helps to sell.

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