Even though the home renovation costs Toronto for every project might vary substantially, let’s start with some rough estimates. These figures are based on our work renovating residences in some of Toronto’s most prestigious neighborhoods. Whole-house renovations and expansions typically cost between $275 and $450 per square foot. Your overall renovation costs might range from $550,000 to $900,000 for small renovations and 2,000-square-foot additions, depending on the project’s scope. The cost of upgrading a 5,500-square-foot home ranges from $1,512,500 to $2,475,000, depending on the scope of the work. What’s the reason behind this wide price range? Following this, we’ll get into what goes into determining a product’s price.
Whole-Home Renovations and Additions: What Affects Your Cost Per Square Foot?
Height of the ceiling: home renovation costs Toronto
When it comes to remodeling a home, it’s vital to keep in mind that square footage isn’t just a determinant in the total home renovation costs Toronto but also in how much it will cost per square foot in terms of vertical space. Since vaulted ceilings are more expensive than regular ceiling heights, if you plan to create an addition with a vaulted ceiling, you’ll have to pay more for it. This holds true for both renovations and additions.
The Addition’s Location and the Existing Structure
There are different factors you should think of when you want to estimate home renovation costs Toronto additions, but it’s normally less expensive to build out than to build up. Adding space necessitates tearing down walls and altering the roofline, but upgrading the foundation to handle the added weight may also necessitate upgrading. Building out often just necessitates modifying the area’s ceiling, walls, and foundation construction. It is, nevertheless, vital to be aware of zoning restrictions in many regions. An existing home’s construction also influences the cost of your extension. For example, adding on to a double-wide brick house can be more difficult than adding to a wood-framed house since it is more difficult to match materials. Consider the cost of adding on to a double-wide brick, wood frame, brick veneer, and siding when working with your home restoration contractor.
Architectural Complexity: home renovation costs Toronto
There’s a direct correlation between the architectural complexity and uniqueness of your home’s design and its cost. Standard renovations and extensions cost less than a more experimental and sophisticated design.
Number and Type of High-End Finishes
Your home renovation costs Toronto will exceed more if you use many high-end finishes across your entire home renovation or extension. Consider reducing the amount or location of high-end finishes if you need to save money.
Location of Your Property: home renovation costs Toronto
The location of your home or building and the surrounding property is another issue that is often disregarded when it comes to determining the home renovation costs Toronto. You’ll pay more for renovations or additions to a faraway house from your contractor or work teams, or that isn’t easy to access with normal construction equipment, tools, and supplies.
The Timeline: home renovation costs Toronto
“Timeline” isn’t a reference to the length of the project itself. As an alternative, keep in mind that the longer you wait to complete your home remodeling or extension, the higher the value of your house will rise in the market. For the previous ten years, the Toronto real estate market has grown by 5% to 10% every year on average. That is to say, if you want to renovate your house in a year or two, you should increase your budget to meet the prices increase. Contact us at Condo cosmetics if you need a specific quote for your renovation projects; we will get to you the first chance that we find.