Finishing your basement is one of the smartest upgrades for your property. It increases your house value and expands living space at the same time.
Finishing a basement is a fruitful investment. You can transform it into that extra space you need for a guest bedroom, larger family room, home office, or simply an apartment to rent out. Think of this transformation as an opportunity to finally have the dream house and a basement finishing design you have always wanted.
Now you can run your business out of your home office, rent out a legal second suite, or teach yoga in your very own at-home studio! For more ideas, check out our previous basement finishing projects.

Basement Finishing Ideas

With the basement finishing ideas available right now, designing your dream basement is an exciting process. You get to create a completely new space whether you are remodeling your basement or starting from scratch. Some basement makeover options include:

Finished Basement Interior

Finished Basement as Multi-functional Space

We can help you create one space where you can entertain your guests, enjoy a glass of red wine and a good book near the fireplace, or even accommodate guests on a fold-out couch or murphy bed if they need to stay over.

Finished Basement Office

If you work from home, you certainly need a quiet, organised area that you can use as an office. The wonderful thing about an office basement is that it can be finished exactly to meet your business needs. Your basement office can have a boardroom, media room, or a studio for video presentations.

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finished basement with bed in newmarket ontario

Finished Basement Studio

Do you enjoy organising art or craft masterclasses, teach kids music, or offer yoga classes? Need a space for sewing, felting, knitting workshops? We can create a great layout for your studio so that you maximise on the basement space you have.

Finished Basement Apartment

Adding a basement apartment in your basement can be a great business venture. You can rent out your finished basement as long as all elements follow the Ontario safety and building codes. With Harmony Basements, you do not have to worry because our work always aligns with safety requirements.

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Basement-with-gym-Toronto

Finished Basement Gym

Finishing your basement into an at-home gym is a practical way to make use of it. You do not have to share your gym equipment with others and you can work out from the comfort of your own home. Plus, you will no longer need to pay for a gym membership. For these reasons, finishing a basement into a gym is always advantageous.

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Basement Finishing Costs

Basement finishing cost will depend on the basement’s original condition, finishes, and design elements of your choice. The total costs usually range between $30,000 to $100,000. However, with the right financing program, your monthly payment can be as low as $300 per month. So if you are on a tight budget, we will do our best to accommodate you.

Are you planning to finish your basement for personal use or for an extra income opportunity? Contact us to design and finish the basement of your dreams.

RELATED ARTICLE: how Much Does It Cost to Renovate a Basement

FAQs

How Much Value Does a Finished Basement Add?

A finished basement can net you a sizeable return based off your initial investment. The Appraisal Institute of Canada is cited with findings that a finished basement can boost the resale value of your home by upwards of 70%. The reason a finished basement adds so much value and is a desirable feature for potential homebuyers is because it offers itself as an additional livable space with the extra square footage to enjoy, it can be used as storage, or the new space can be facilitated as a rental unit.

How Much Does Basement Finishing Cost?

The cost of finishing your basement varies depending on the basement’s original condition, the design elements, and the finishes of your choice. On average, the costs of basement finishing range between $30,000 to $100,000. Harmony Basements recognizes basement finishing can be a significant undertaking so to avoid a hefty financial burden, we offer the option to opt into a financing program. We do our best to accommodate your budget. You can even see monthly payments be as low as $300 per month!

Can I Get a Loan for Basement Finishing?

Absolutely! Harmony Basements offers both secured and unsecured loan options for basement finishing. Harmony Basements has helped hundreds of homeowners across the GTA finish their basement with a financing plan of just under $300 per month. Loan approvals are quick and easy, and we’ve made sure there is an option to fit comfortably into any budget.

What are the Benefits of Finishing my Basement?

There are many benefits of finishing your basement. They include:

Creating a Versatile Space – After finishing a basement, you have endless options on how you choose to utilize your new space. Some of the more popular transformations include adding a bedroom, bathroom, home office, family/game room, home gym, hobby room, and dining room/home bar. Regardless of how you intend to repurpose your finished basement, the function, utility, design, and aesthetic is up to you!

Increasing Home Value – One of the more intriguing benefits that attracts homeowners to finishing their basement is the value this renovation adds to your home. In fact, a finished basement can provide a return on investment of roughly 70% on average. Potential home buyers are much more likely to be interested in a home with a finished basement as opposed to one that isn’t.

Improving Energy Efficiency – A finished basement can improve the energy-efficiency of your home. In many cases, an unfinished basement will allow air to escape because of insufficient insulation, and this will increase the cost of your monthly utility bill. If you find your paying high energy bills or you just want to limit your carbon footprint, a finished basement can help lower both. The added layers of drywall and insulation help reduce the energy needed to heat or cool your home and keep the temperature consistent.

Storage Optimization – By finishing your basement, you can use this space to store old toys, exercise equipment, holiday decorations, and more. With smart storage solutions like built-in shelving or cabinets, a finished basement can help you declutter and stay organized by storing items safely and securely.

Added Income – The newly acquired living space can be used as a rental unit to bring in a secondary source of income.

Which Areas Do You Serve for Basement Finishing?

We offer our basement renovation services in Toronto and across the Greater Toronto Area (GTA). For more information or to request a free estimate, kindly give us a call at 905-669-9039, email us at info@harmonybasements.ca, or visit our Woodbridge location at 156 CHRISLEA ROAD. UNIT 4 WOODBRIDGE ONTARIO L4L8V1, or complete our online form.

Can I See Some Images of Past Basement Projects?

Of course! We encourage everyone to check out our past basement projects on your showroom page here, and for even more images of Harmony Basements’ best results, see here some of our best basement finishing ideas brought to life! You can also follow us on Instagram to view our newest content and receive updates on our latest projects.

What Steps are Typically Included in a Finished Basement?

The steps typically included in the process to complete a finished basement go as follows:

Step 1: Get in Contact for a Free Estimate
Step 2: Organize an In-Home Consultation
Step 3: Our Proposal
Step 4: Finance Your Project
Step 5: Visit Our Design Centre
Step 6: Scheduling
Step 7: Material Delivery
Step 8: Installation Begins
Step 9: Quality Inspection
Step 10: Client Satisfaction
Step 11: Warranty Issued

What Are the Cons of a Finished Basement?

One of the cons of a finished basement is you might not recoup back all your expenses. While it’s true that a finished basement can net you a return of roughly 70%, that still leaves you at a loss of 30%. It’s a good return on investment regardless, but it is still worth noting the makeover does not fully pay for itself.

Another con of a finished basement is the fact that basements can be dark because of the few and small windows. Harmony Basements offers different lighting options that we can add to your finished basement plans.

Another worry of finishing a basement is moisture can be a problem. Basements being positioned underground mean they struggle with humidity and moisture. As a result, mold and musty odours are unfortunate issues that homeowners deal with regularly. Forttunately before we start any basement finishing project, part of our services include checking for mould and moisture. We will waterproof your basement before we proceed with finishing your basement.

Can I Live in an Unfinished Basement?

This is not advisable due to the exposure of different materials that can be a risk to your health and safety. Get in contact with our team to transform your basement into a livable space.