Basement Finishing Cost in Toronto (2026)
Average cost in Toronto
$35,000 — $145,000
$45 — $135 per sq ft
Cost Breakdown
ItemizedSkilled trades and general contracting
45%
Lumber, drywall, flooring, and insulation
35%
Rough-ins, fixtures, and panel upgrades
12%
City fees and architectural drawings
5%
Unexpected repairs and moisture issues
3%
HST at 13%
📋What's Included
ScopeTypically Includes
- Framing & drywall
- Basic flooring (LVP or carpet)
- Electrical (outlets & lighting)
- Egress window (if required)
- Painting
- Basic bathroom rough-in
Typically Excludes
- Full basement bathroom
- Built-in bar or kitchen
- Home theater wiring
- Waterproofing (separate cost)
- Permits & inspections
Assumes an unfinished basement with existing concrete floor and basic utilities.
🧮Estimate Your Cost
InteractiveEstimated Cost
$30,120 — $45,180
Based on 8 sources and market data for Toronto. Actual costs may vary depending on specific project requirements.
📈Price Momentum
Year-over-year~1 year ago
$72,603
Today
$76,161
Basement Finishing in Toronto is ↑ 4.9% compared to roughly a year ago — about $3,558 more on the average project.
Comparison derived from the year-over-year change rate, not a month-by-month price index. We don't store historical snapshots yet — when we do, this will become a real time series.
🏢Top Basement Finish Contractors in Toronto
Verified providersAstaneh Construction
3080 Yonge St Ste 6060, Toronto, ON M4N 1S1, Canada
119 reviews
CD Flood & Sewer Water Damage Cleanup
77 Bloor St W #636, Toronto, ON M5S 1M2, Canada
386 reviews
CSG Renovation
30 Powerhouse St 101 Office G12, Toronto, ON M6H 0C6, Canada
72 reviews
Provider data sourced from public business directories. Ratings and reviews are public and may change. LookupCost is not affiliated with listed providers.
💬What People Actually Paid
Community❓Common Questions
A fully legal secondary suite typically costs between $90,000 and $140,000. This includes fire separation, separate entrances, egress windows, and full kitchen/bathroom installations required by the 2025-2026 updated building codes.
Building permit fees for the City of Toronto generally range from $1,000 to $1,500. However, professional architectural drawings required for the application typically cost an additional $2,000 to $5,000 depending on complexity.
Adding a standard three-piece bathroom (toilet, sink, shower) costs between $15,000 and $22,000. If the concrete slab requires breaking for new drain lines (no existing rough-in), expect to add $3,000 to $8,000 to that total.
Homeowners can expect a 5-10% increase in property value. For those creating rental units, legal suites in Toronto are currently fetching between $1,500 and $2,500 per month in rent as of mid-2026.
📊Our Methodology
How we collect dataAggregated from 5+ verified web sources and cost databases
Licensed contractor estimates and regional cost guides
Government construction and labor statistics
Community-reported project costs and reviews
Last data collection: 3 weeks ago. Updates run weekly. All costs in CAD.
About this data
Cost figures are estimates synthesized from public market data using AI research and refreshed regularly. Real project costs vary by scope, materials, contractor, and site conditions. Always get verified quotes from licensed contractors for your specific project.
Spotted bad data? Let us know — we'll review and update.