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What is the Cost of a Basement Renovation in 2019?

Basement renovations help add casual living spaces for your family using the existing foundation and structure. The best thing is that the overall cost per square foot is much less than a home addition. On average, basement renovation costs between $35 and $70 per square foot. The cost depends on the requirements. The drywall supplier Toronto you use will also affect the overall cost of renovation.

Prior to starting work on basement renovations, you have to consider your needs. What do you want to transform the basement into? If walls need to be put up, on average it costs $2,000 per wall. Use gypsum when putting up walls because the material offers soundproofing benefits and can be sanded and painted.

In Toronto, here are the average costs you should be prepared to spend on basement elements:

  • Turnkey (without bathroom): $24,000 to $40,000
  • Bathroom: $9,000 to $23,000
  • Walls and joint sealing: Gypsum $3 per square foot plus $1,800 for joints
  • Ceiling: $3.60 to $6.20 per sq. ft.
  • Insulation: $2.10 to $3.60 per sq. ft.
  • Flooring: $5.25 to $8.70 per sq. ft.

What Turnkey Basement Renovation Includes

This renovation requires that you strip the basement to its original bare state and then redo it anew. This means you have to add new walls, insulate walls that are adjacent to the foundation, add gypsum ceiling, seal joints, put some flooring and paint the whole basement. You may also need custom finishing and cabinetry. You should be ready to spend more if you want to add a bathroom to a basement that never had a bathroom.

Adding a Basement Bathroom

Part of the concrete slab will have to be demolished to install a bathroom in the basement. The project can be costly and lengthy depending on how the house has been built. Installing a bathroom can cost an additional $3,500. However, if there was already a bathroom in the basement, the original plumbing will work fine and you will not have to spend a lot. The cost of renovation will, however, depend on what you put in your new bathroom. On average, it costs $8,000 to $15,000 to add a small sized bathroom in your basement.

Walls, Sanding and Joint Sealing

When using gypsum walls, you should add $2 per sq. ft. for the materials and installation. The cost of sanding and joint sealing will depend on the size of the basement. The average cost is about $1,500. 


The cost of painting will depend on the square footage that has to be covered. Cost is calculated based on the paint quantity and labor hours. The average cost ranges from $1,000 to $1,500.


You can close the ceiling using:

  • Gypsum ceiling: $2 to $3 per sq. ft.
  • Suspended ceiling: $5 per sq. ft.
  • Architectural ceiling: $7 per sq. ft.

The cost of basement renovation will depend on what you end up putting into it and the drywall supplier Toronto you use. On average it costs between $20,000 and $35,000. You should also note that for security reasons adding a bedroom in the basement requires that you also add a window. The cost of adding a window is about $2,000.