Essential
$40k–$60k
An open, finished space with standard materials.
- Framing, insulation, and drywall
- Vinyl plank flooring over a suitable subfloor
- Pot lights and receptacles
- One open recreation room with storage
GTA renovation services
Basement renovation, also called basement finishing, turns an unfinished or dated basement into living space such as a family room, bedroom, bathroom, office, or gym. Calico Designs and Renovations designs and builds basements across the Greater Toronto Area, with a 3D rendering you can approve before work starts. As a starting guide, basement renovations run from about $40,000 to $150,000 or more.
Free first consultation and site visit, anywhere in the GTA.
Ask for a full rendering of your project and approve the design before anything is built.
We don’t demolish at contract signing. Your old kitchen stays in place through design and sign-off, then demolition and installation happen back to back. You are without a working kitchen for only 2 days.
We work within your budget, as long as it is realistic, and design from your mood board and inspiration photos.
An unfinished basement is concrete, exposed joists, and a furnace. Finishing it means building a proper interior inside that shell: a subfloor and flooring, framed and insulated walls, a vapour barrier, wiring and lighting, heating and return air, drywall, doors, trim, and paint. Most projects also add a bathroom, and many add a bedroom, office, or bar.
A basement renovation is the same work applied to a basement that was finished decades ago, usually with panelling, a drop ceiling, and carpet that has seen at least one leak.
A basement is a good candidate when it is dry year-round, has reasonable ceiling height, and has a floor drain and, ideally, a bathroom rough-in.
Deal with these before finishing:
None of these rule a basement out. They change the order of the work, and they belong in the budget from the start.
Moisture first. Concrete below ground is never completely dry. Walls and floors are built with that in mind: insulation and a subfloor that tolerate moisture, and no organic materials directly against the concrete.
Height and light. Good lighting design and smart placement of bulkheads make an ordinary basement feel like part of the house. Where the budget allows, larger windows change the room more than any finish.
Bedrooms need a way out. A basement bedroom needs a window or door that a person can escape through in a fire. If the existing windows are too small, one is enlarged.
Heat and air. A finished basement needs supply and return air, and a bathroom needs a fan ducted outside.
See the full sequence on our process page.
Industry-wide, finishing a basement typically takes six to ten weeks of construction after the permit is issued. A bathroom, a separate entrance, enlarged windows, or underpinning each extend that. Because the main floor stays untouched, most households carry on as normal upstairs while the work happens below.
TODO: owner to confirm Calico's typical basement timelines.
GTA municipalities generally require a building permit to finish a basement. The application includes a floor plan showing rooms, windows, plumbing, and smoke alarms, and inspections happen at framing, plumbing, insulation, and completion. More detail is in our guide to renovation permits in Ontario.
The tiers below show what each level typically includes, and our basement renovation cost guide breaks the numbers down further. If rental income is the goal, compare them with the legal basement apartment tiers, which include the fire and exit requirements a rental unit must meet.
These ranges are average market prices in the GTA, per basement. Your project can cost less or more depending on your preferences. Your exact price comes after a free consultation and site visit, once we know your space, your finishes, and your budget.
$40k–$60k
An open, finished space with standard materials.
$60k–$90k
Separate rooms and a bathroom, finished to match the rest of the house.
$90k–$150k+
A fully custom lower level.
We’ll look at the space, talk through your budget and inspiration, and tell you honestly what it can achieve.
Rated 4.9 out of 5 from 37 reviews on HomeStars, as of November 2026.
Plumbing, HVAC, electrical, and structural engineering are all done by our own team, not passed to outside companies, with working-at-heights certification on site.
TODO: check the licence wording against the certificates before launch.
$5 million liability insurance, WSIB coverage, and an $11 million bond.
Up to 8 years. The length depends on the project, and your warranty terms are written into your contract.
HomeStars Best of 2024 and 2025, TrustedPros Best of 2025, and Best of Houzz 2026.
TODO: add links to the TrustedPros and Houzz profiles.
As a starting guide, finishing a basement in the GTA runs from about $40,000 to $60,000 for an essential open layout, $60,000 to $90,000 for a mid-range basement with a bathroom and separate rooms, and $90,000 to $150,000 or more for a premium custom basement. Exact pricing follows a free consultation and site visit. These are average market prices and can be lower or higher depending on your preferences.
In most cases, yes. GTA municipalities generally require a building permit to finish a basement, because the work involves new walls, insulation, plumbing, electrical, and heating changes. Check with your own municipality's building department. Electrical work is inspected separately through the Electrical Safety Authority.
Across the industry, finishing a basement typically takes about six to ten weeks of construction, and longer with a bathroom, a separate entrance, or structural work. Design and permit review come before that. TODO: owner to confirm Calico's typical basement timeline.
A finished basement is extra living space for your own household. A legal basement apartment is a separate, self-contained dwelling with its own kitchen, bathroom, and entrance that meets Building Code and fire requirements for a second unit and is permitted, and in many cities registered, with the municipality. The apartment costs more because of fire separations, exits, and separate services.
Yes, but the moisture has to be solved first. Finishing over a damp wall or floor traps water behind the new materials and leads to mould. We look for the source at the site visit and include the fix in the plan.
Yes. You can ask for a full 3D rendering and approve the layout before anything is built. It is especially useful in a basement, where ducts, beams, and posts shape what is possible.