RICHMOND HILL · VAUGHAN · MARKHAM · GTA
Basement Renovation Cost in Richmond Hill & the GTA (2026)
What does it really cost to finish a basement or build a legal apartment in 2026? A clear breakdown by square foot, finish level and the factors that move the price, from Razco Renovation.
Get a Free Quote — (647) 561-3333$40k–$100k
Typical finished basement (800–1,200 sq ft)
$35–$75 /sq ft
Standard finishing rate
$90–$140 /sq ft
Legal secondary suite
Basement Renovation Cost at a Glance
| Finish level | Per sq ft | Typical total |
|---|
| Basic finish | $35–$55 | $35,000–$55,000 |
Mid-range MOST COMMON
Adds a 3-piece bath & upgraded finishes | $55–$75 | $55,000–$80,000 |
Legal secondary suite
Separate entrance, egress, fire separation | $90–$140 | $80,000–$130,000+ |
💬 Every project is different
The figures above are typical 2026 ranges — your actual cost depends on the size of your space, the finishes you choose, site conditions and scope. Tell us your budget and we’ll help you get exactly what you need within it, with a free, itemized quote — no pressure, no hidden fees.
For a standard 800–1,200 sq ft basement, most Richmond Hill and GTA homeowners spend $40,000–$100,000 in 2026.
What Drives the Cost?
🛁
Adding a bathroom
A basic 3-piece basement bathroom adds $15,000–$25,000.
🏛
Legal apartment
Egress windows, fire separation, a separate entrance and permits raise cost.
📐
Low ceilings
Underpinning to gain legal height is the most expensive add-on.
💧
Waterproofing
Essential below grade; more if there are existing moisture issues.
🍳
Kitchen / wet bar
Plumbing, cabinetry and appliances for a suite or rec room.
✨
Finishes
Flooring, pot lights, trim and built-ins set the final budget.
Typical Cost by Component (2026)
Framing, insulation & drywall$15,000–$30,000
3-piece bathroom$15,000–$25,000
Flooring$4,000–$12,000
Electrical & pot lights$4,000–$10,000
Egress window$3,000–$6,000
Waterproofing$3,000–$10,000+
Kitchenette / wet bar$8,000–$25,000
Is Finishing a Basement Worth It?
A finished basement adds usable living space for a fraction of an addition’s cost, and a legal basement apartment can earn $1,500–$2,500+ per month in rent — often paying for itself within a few years.
How to Get the Most From Your Budget
Decide early whether you need a bathroom or a legal suite — those two choices drive most of the cost. Prioritize waterproofing and insulation, get a clear permit plan, and start with a free, itemized quote.
Basement Renovation Cost FAQ
How much does it cost to finish a basement in Richmond Hill?
In 2026 most basement renovations in Richmond Hill and the GTA cost $40,000 to $100,000, about $35 to $75 per square foot, or $90 to $140 per square foot for a legal apartment.
How much does a legal basement apartment cost in Ontario?
Budget $90 to $140 per square foot, typically $80,000 to $130,000+, because of egress windows, fire separation, a separate entrance and permits.
How long does a basement renovation take?
A standard finished basement takes about 4 to 8 weeks; legal suites and underpinning take longer.
Do I need a permit to finish a basement?
Yes, finishing a basement, adding a bathroom or creating an apartment all require permits in Ontario. Razco handles the process.
What adds the most cost to a basement?
A bathroom, a legal-apartment build, and any underpinning to raise ceiling height are the biggest cost drivers.
Get Your Free Basement Renovation Quote
Finishing & legal suites across Richmond Hill, Vaughan, Markham & the GTA. Itemized pricing, 1-year workmanship warranty.
(647) 561-3333