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Basement Renovation Cost in Vancouver

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Are you ready to convert your drab, unfinished basement into a beautiful, functional living space?  Have you started to think about what that space will look like, but you don’t know if you have the budget for the project?  You’ve come to the right place for some answers.  While it can be very difficult to make a blanket estimate for basement renovation costs, we have some guidelines that will help you start to develop a budget that can allow you to turn your basement dreams into a reality.

Core Costs

Honestly, there are so many factors that influence basement renovation costs.  What is the size of the space?  How would you like to use the room?  Are you putting in a suite, adding a living room, building a new laundry room, or putting in a games room?  Ultimately, how much space you have and how you plan to use that space can significantly impact your basement renovation cost.  Some experts estimate the average basement renovation to cost between $30 and $60 including the cost of contractors, materials, and labour.  But to get a clearer picture of what your unique costs will be, it’s always advisable to work with a qualified professional.  Renovation costs will reflect the structural condition of the space, the quality of materials, your timeline, and even the trades involved.

Structures

Unless you’re in a new home with an unfinished basement, you might learn that your home has some structural problems with the foundation – which makes up a good part of your basement.  From cracks to mold or other signs of decay, your basement renovation should include the costs of repair to these structural elements.  Working with a professional contractor can help you identify these issues and build them into the total cost of your basement renovation.

Materials

Do you envision hard wood floors in your basement, or are you happy with less expensive laminate flooring?  How would you like the walls to be finished?  Do you need to run new electrical for your lighting?  There are a lot of material considerations to be made, and each choice will impact your budget.  Working with a designer and a contractor can help you visualize what you want your finished basement to be and then to identify all the costs associated with your finished design.  Fortunately, at this stage of budget development, you have a lot of control over your basement renovation costs and with careful planning you can ensure an affordable project.

Professionals

Finally, depending on the timeline for your project and the professionals involved, costs will vary.  If you really need your basement renovated yesterday, the cost of the project will be significantly higher.  Likewise, if you need to bring in more tradespeople, such as a plumber or electrician, there will be added costs involved.  At the end of the day, you need to have a vision for your project to get a clear picture of basement renovation costs.

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