What You Need to Know Before Renovating a Basement in Vancouver
Basement Renovation Cost
The average basement renovation cost in Canada varies from city to city as well as Province to Province. For example, in Halifax the average cost to finish a basement is $95 to $135 per square foot—that means for an 800 square foot basement, homeowners can expect to pay $76,000 to $108,000. In Vancouver, however, the costs can be considerably higher—ranging from $130 to $230 per square foot if the basement requires extensive work. That means for the same 800 square foot basement, Vancouver home owners can expect to pay in the region of $104,000 to $184,000—according to statistics by Altus Construction. The high cost of basement renovations in Vancouver means that it can be difficult to recoup the total costs if you are aiming to flip the property. Therefore, homeowners should only really look at hiring basement renovation specialists if they are looking to increase the usable square footage of their home or use the basement as an in-law suite. Homeowners should also be aware that all construction costs in British Columbia include Pacific Sales Tax. Having a plan or checklist is crucial for your basement renovation’s success.
Basement Renovation Ideas
Gathering ideas for your basement renovation is an important first step when working with a basement renovation contractor. Unfortunately, not all basement renovations are created equally and it depends on the condition of your home.
Basement Renovation Ideas for Older Homes
If you have a Vancouver heritage home, your basement was likely not designed to be a living space. Moisture entering the basement is the most common issue issue for older homes with basements. A basement renovation company, like Etheridge Renovations, can easily make your home’s older basement water tight by ensuring that your footings are working and the water is being pushed away from your home’s lowest points. Another common issue with basements in older Vancouver homes is a lack of natural light. Liberally using bright colours, installing recessed lighting, using mirrors wisely, and installing polished hardwood or tile flooring are some of the best ways to improve your basement renovations’ lighting issues.
Basement Renovation Ideas for Small Basements
If you’re looking for basement renovation ideas for small basements, the first thing that you should be focusing on is storage space. Looking at tiny homes can also be a great source of inspiration for your basement renovation. Specifically, tiny homes do a very good job of ensuring every part of the home is multipurpose. If you’re hoping to install a home office in your small basement or an additional bedroom, you might want to have a feature wall that is hiding a large storage solution behind it. By doing that, you can keep the smaller footprint clutter free so that every square foot is utilized to its fullest.
Cost of Building Permits
As with the overall cost of basement renovations, the cost and average waiting times for building permits varies from area to area. Unlike the overall cost, which can be varied from Province to Province, building permits vary significantly from municipality to municipality. Especially throughout Vancouver’s Lower Mainland.
Abbotsford Basement Renovation – Permit Cost & Waiting Period
For a $100,000 basement renovation in Abbotsford, the permit fees will cost approximately $815. The current wait time to obtain a building permit in the city is 2 months. See the latest wait times
Chilliwack Renovation – Permit Cost & Waiting Period
As with the other cities throughout the Lower Mainland, the permit fees in Chilliwack breakdown depend on the amount being spent on the renovation. The City of Chilliwack breaks down the costs as such:
- $100 base cost for the first $1,000
- Every $1,000 thereafter (upto $100,000) costs an additional $5.90
So, for a $100,000 renovation, the permit fees should be approximately, $690.
The current wait times for a building permit in Chilliwack is approximately 10 weeks. See latest wait times.
Coquitlam Basement Reno – Permit Cost & Waiting Period
The cost of a building permit in Coquitlam is $81.01 for the application. If you’re hiring a registered general contractor to renovate your property, the cost is
- $32.86 (renovation costs – $5,001 to $20,000)
- $129.22 (renovation costs – $20,001 to $50,000
- $386.82 (renovation costs – $50,001 to $500,000
The current wait time for a building permit in Coquitlam is 6 weeks.
Renovating a Basement in Surrey, BC – Cost & Waiting Period
In Surrey. BC, the cost of a permit to renovate a basement is approximately $414.25 for the Plan Processing Fee, this is approximately 35% of the application cost. From there, if your renovation costs over $20,000, homeowners must pay a damage deposit of $2,500. The final 65% is calculated and must be paid prior to the City issuing the building permit. The current wait time for a building permit in Surrey is 15 weeks. Calculate your Surrey reno cost.
Basement Renovations in Vancouver – Cost & Waiting Period
Building in the City of Vancouver is a lengthy and complicated process. To understand the process for renovating a basement suite in Vancouver, Contact Etheridge Renovations.