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Basement Renovation 2021

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  • Jun 29th, 2021 11:22 am
[OP]
Sr. Member
Oct 12, 2014
739 posts
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North York, ON

Basement Renovation 2021

Is it recommend to do 700 SQFT basement renovation based on prices of raw materials or wait until 2022?
10 replies
Deal Fanatic
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Oct 13, 2008
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Nobody knows. It's like playing a game of craps.
.
Your guess is just as good as anybody else's.

33.33333% prices go up. If supply is short and COVID numbers do not drop.
33.33333% prices remain same. If all is the same.
33.33333% prices go down. If supply increases and COVID numbers are controlled by the vaccines.
16'x11' Living Room 11' Cathedral Ceiling. Hisense 65Q8G. Denon AVR-S740H 7.2 setup. Jamo Classic 10 280W Towers - FR+FL; Polk S35 - Center; Klipsch R51M - RR+RL; Klipsch R14M - Dolby FHR+FHL; Polk HTS10 Subwoofer x2. Unlocked Android Boxes from Taiwan x2
Deal Addict
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Jul 2, 2001
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$10 for a 2x4... yaaaaaa no i'd wait.
.
Jr. Member
Mar 24, 2009
137 posts
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KW
It all depends on what you want to do with your basement....enjoyment wise.

You will see a slight drop in material cost. I wouldn’t count on a big drop....a sale maybe....
Deal Addict
Jun 26, 2019
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GTA
yellowlight18 wrote: Is it recommend to do 700 SQFT basement renovation based on prices of raw materials or wait until 2022?
Based on prices of raw materials, probably not, based on other factors, yes.

Sure you're going to pay triple the cost of studs, but it was a pretty small cost to begin with, also you can just use metal studs. Subfloors have also gone up a bit too.

The bigger concern for me, is if you can actually get a good contractor, and how much their covid premium is going to be. Also along those lines, can you get the products you want to finish your basement with? If you plan on putting in a lot of cabinets that you were going to source from ikea or otherwise premade, you might not be able to get them.

Lastly, its a basement, so this doesn't matter as much, and maybe you're fine on leaving it halfway done, but if you want you contractor to start your job, work on it steadily, and then finish it and be done, don't let them start till they have everything they need bought all ready. Give them your garage to stockpile, or something. I've heard wayyyyyyyyy too many stories of someone hiring a contractor to start their family room or kitchen, then demoing it, starting the work, then saying oh, we can't get your cabinets or something, we'll be back in a few months when they come in. Enjoy the mess!
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Oct 13, 2008
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When I was doing framing in my basement in late 2016 ... price of 2x4x8 was $3.30 a stud at Home Depot.

Then last year (June 2020) ... I was putting in a section of raised flooring in my basement ... price of 2x4x8 was $3.90 a stud at Home Depot.

IMG_20210511_084018.jpg

Then last year (September 2020) ... I re-located my dartboard to a raised floor with an in-floor toe line ... price of 2x4x8 was $6.15 a stud at Home Depot.

IMG_20210511_084032.jpg

I then went to 2x3x8 for making a storage shelf behind the dartboard area ... price of 2x3x8 was $3.77 a stud at Home Depot.

IMG_20210511_084052.jpg
16'x11' Living Room 11' Cathedral Ceiling. Hisense 65Q8G. Denon AVR-S740H 7.2 setup. Jamo Classic 10 280W Towers - FR+FL; Polk S35 - Center; Klipsch R51M - RR+RL; Klipsch R14M - Dolby FHR+FHL; Polk HTS10 Subwoofer x2. Unlocked Android Boxes from Taiwan x2
Deal Addict
Dec 25, 2012
1187 posts
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Toronto
jdmfishingonly wrote: When I was doing framing in my basement in late 2016 ... price of 2x4x8 was $3.30 a stud at Home Depot.

Then last year (June 2020) ... I was putting in a section of raised flooring in my basement ... price of 2x4x8 was $3.90 a stud at Home Depot.


IMG_20210511_084018.jpg


Then last year (September 2020) ... I re-located my dartboard to a raised floor with an in-floor toe line ... price of 2x4x8 was $6.15 a stud at Home Depot.


IMG_20210511_084032.jpg


I then went to 2x3x8 for making a storage shelf behind the dartboard area ... price of 2x3x8 was $3.77 a stud at Home Depot.


IMG_20210511_084052.jpg
Did you frame yourself? Also is that builder insulation, can you just frame on top of the existing builder insulation (if it’s full top to bottom) without issues? Sidetrack a bit sorry.
JS
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Oct 13, 2008
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James Stonehenge wrote: Did you frame yourself? Also is that builder insulation, can you just frame on top of the existing builder insulation (if it’s full top to bottom) without issues? Sidetrack a bit sorry.
Previous owner had framing partially done at 17" OC , 21" OC, 19" OC ... all over the place. Drywalled up the drain.

When we moved in, I ripped them all down and redid them section by section with 16" OC.

Builder insulation. Some places half wall some places full wall.

I drilled holes through the studs for wiring to keep things clean. Re-did the outlets and some lights. Added boxes for the internet cables.
16'x11' Living Room 11' Cathedral Ceiling. Hisense 65Q8G. Denon AVR-S740H 7.2 setup. Jamo Classic 10 280W Towers - FR+FL; Polk S35 - Center; Klipsch R51M - RR+RL; Klipsch R14M - Dolby FHR+FHL; Polk HTS10 Subwoofer x2. Unlocked Android Boxes from Taiwan x2
Member
Apr 8, 2011
251 posts
54 upvotes
Any inputs on going rates per sq ft for having contractor finish a basement? Location GTA. Basement is as-is from new build from 7 years ago. 1 quote I got this week was ~$85/sq ft and I'm still waiting to talk to a few more but wanted to know if everything went up that much with COVID.

TIA.
Deal Addict
Nov 7, 2012
1217 posts
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TORONTO
I just recently got my basement finished. Approx 400sqft.
Added a full 3 pc bath, enclosed furnace, enclosed storage area under stairs, Pot lights (about 20) moved laundry to other side of basement and put hardwood on stairs.
Paid 21K which did not include flooring and tile in the washroom. That added about $ 1200. $800 for laminate and $400 for tile.

I'd give you my contractors contact but between all my friends who use him, you'd be hard pressed to find him available any time soon.

From what my contractor told me, some materials have gone up but majority of the other stuff has remained the same price. They didn't use %100 wood for the framing, it was a combination of metal studs and wood.
Member
Sep 19, 2014
477 posts
245 upvotes
Markham, ON
shabby wrote: $10 for a 2x4... yaaaaaa no i'd wait.
Funny people always use 2x4 prices as an excuse to jack up basement reno prices nowadays
But they really don't change the whole basement reno cost that much even when they are 3-4x more expensive than the year before.

Typical basement uses around 300 sticks of 2x4
pre-covid price @ $3.20/stick they would cost you $960
now @ $10/stick, the 2x4 would cost you $3000

Only $2000 more for your whole basement which is pretty insignificant for a whole basement reno cost.


Of course other materials are also going up, but the bulk of a basement reno cost is always the labor. (e.g. a typical $50K basement usually only $15-$20K in materials costs)

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