How Much Does it Cost to Renovate a House in Ontario?
Renovating your home can be an exciting and rewarding experience, but it can also be costly. The cost of a renovation in Ontario can vary depending on the size and scope of the project. Here’s what you need to know about the cost of renovating a house in Ontario.
The Average Price Per Square Foot
According to HomeStars, the average cost per square foot for whole-house renovations and additions ranges between $350 and $500. This means that if you’re remodeling a small home or adding a 2,000-square-foot addition, your total renovation cost will be between $700,000 and $1,000,000.
Factors Influencing Renovation Cost
The cost of your renovation project will vary depending on several factors, including the size and complexity of the project, the materials used, and the location of your home. Other factors that can influence the price include:
1. Labor Costs: Labor costs can vary depending on the experience and expertise of the contractors you hire. You might want to get multiple quotes from different contractors to find the best deal.
2. Permits and Fees: Depending on the scope of your renovation project, you may need to obtain permits from your municipality. Permit costs and fees can vary, so include them in your budget.
3. Structural Changes: If your renovation project includes structural changes such as moving walls or adding a second story, the cost may be higher due to the additional work required.
4. Material Costs: The cost of materials varies depending on the quality and type of materials used. For example, hardwood flooring is more expensive than laminate flooring.
5. Unexpected Costs: Renovation projects frequently incur unexpected costs, such as the discovery of hidden damage or unforeseen problems that must be addressed.
Tips for Lowering Renovation Costs
If you want to renovate your home on a budget, here are some suggestions:
1. Prioritize Your Needs: Consider the areas of your home that require the most attention and prioritize your renovation projects accordingly.
2. Choose Affordable Materials: Consider using affordable materials that still look great, such as laminate flooring instead of hardwood.
3. Do Some of the Work Yourself: If you’re handy, consider doing some of the work yourself to save money on labor.
4. Set a Budget and Stick to it: Avoid making changes to your renovation plan that may incur additional costs.
The cost of renovating a house in Ontario varies depending on the size and scope of the project. However, by understanding the factors that can affect the cost and following some cost-cutting tips, you can complete your renovation project within your budget. To obtain an accurate estimate of the cost of your renovation project, consult with a professional contractor.