how much does a basement conversion cost?

How much does a basement conversion cost? Let’s take a look.

Let's say this is for a 1000 square foot unfinished basement (concrete slab basement floor and exposed stud framing) with the intent of building a two bedroom secondary suite. 

• Zoning: Investigation and Survey Costs (Approximately $4k.)

• A survey is not always required but this is something to keep in mind when creating a rough budget.

• We review setbacks of the lot to see if the lot would allow for a secondary entrance, window, etc.

• We look into if the property is zoned to allow for two dwellings. To rezone just means a bit more time with the city but luckily the city is in favour of these right now due to bill 23.

• Potential incurred cost of Surveying: $3000-$5000.

• Cost of Permitting: (Approximately $4k-$5k.)

• For BCIN Architectural Permitting about $1.50-$4/sf. This can vary on complexity and scope of the project. For a basic basement suite, we would budget around $1200-$2800.

• Structural: Depending on structural requirements anywhere from $1200-$3000 per project i'd imagine.

• Interior Designer if you're going for a higher end would be around $5000.

• Cost of Construction: (rough-ins (plumbing, electrical, HVAC)), insulation, new entrance, windows, fire walls and ceilings, drywall wall, finishing carpentry, doors, cabinets, fixtures, appliances, etc.)

• Approximately $120-$300/sf for builder basic to entry level higher end. For this project of a 1000sf basement let’s estimate $140/sf. That means we are looking at approximately $140,000.00. This budget can be refined as need with a project architectural designer and/or contractor.