When we purchased the house we really did not have a good idea of how much it would cost to renovate. We figured it was cheaper than building a new house, but by how much was anyone's guess.
One of the first sources of information on renovations that we turned to was the book "Make It Right" by Mike Holmes. Besides providing good information about how a house is built, it was one of the only books we found that gave pricing guidelines for a home renovation in Canada. For example, Mike says that a kitchen reno can cost $10,000 to $40,000, bathrooms are between $10,000 and $20,000, basements cost $30,000 on average, while an addition is from $90 a square foot up to $360 a square foot. The average for an addition, he says, is $120 a square foot, which will give you the minimum code requirements - carpet, vinyl, possibly some ceramic in the bathroom, etc. Decks run about $5 a square foot while fences are about $12 per foot of fence.
Mike's estimates seem to be in line with information we got from architects and builders that we talked to in Ottawa. Most Architects we talked to said that renovating an existing space runs about $100 a square foot, while new construction (e.g. an addition or adding another floor) runs about $200 a square foot for decent quality construction. Oakwood, a design-build company with a long history in Ottawa, told us their new construction runs about $235 a square foot.
In the Fall/Winter edition of Ottawa Renovates magazine, a magazine produced in conjunction with the Greater Ottawa Home Builders Association, there is an article where several Ottawa area builders are asked about construction costs. Depending on the builder, cost estimates were anywhere from $100 to $450 per square foot. Engel Construction, for example, councils that when budgeting for a whole-house renovation, plan for $100 per square foot, and then add costs for kitchen and bathrooms. Starting with a gutted space, a new kitched will range from $10,000 to $15,000 excluding counters and cabinets. Cabinets cost from $7,000 to $50,000 or more. A new bathroom can run from $10,000 to $15,000, says Engel. Similarly, Lagois Drafting and Construction ballparked costs at around $200 to $400 per square foot, plus their design fee. Luxury Renovations says that their projects usually run between $250 and $450 per square foot.
Don't forget that these costs are just for the construction. You also need to add on costs for landscaping and for the architect (if you use one), who sometimes cost as much as 15% of the overall construction budget.
What's your experience with the cost of a renovation? Was it cheaper or more expensive than the figures given above?
Wednesday, December 2, 2009
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Thanks for your comments. Ottawa Renovates can be viewed online at http://www.ottawarenovates.com.
ReplyDeleteThanks for the comment Mark. I have added the hyperlink to Ottawa Renovates magazine in the text
ReplyDelete$5.00 per square ft to build a deck...wow
ReplyDeleteusing 2 x 6 pt joists and 5/4 decking would cost approx $4.50 per sq ft to buy....Just 50 cents per sq ft labour....
$12 per ft for fencing....6 ft pt fence with 4 x 4 posts cost about $11.00 per ft to purchase materials...Just $1 per foot to construct
Maybe the price is just for material, even though I doubt thats what they are saying.
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ReplyDeleteI am looking to renovate a basement I was wondering how much you would charge to complete this it is 7000square feet, 2 rooms, 1 3 peice bathroom, and a recreation area laminate flooring, labour and material please. or labour only. this renovation is in the ottawa area.
thanks
Thanks to the Anonymous commenter who pointed out the discrepancies in the cost to build decks and fences. If your figures for building materials are correct then, yes, the labour cost does seem rather low. The figures you are referring to come from Mike Holmes' book. The book was published in 2007, which means it was likely written in 2006, hence, the figures are now about four years out of date.
ReplyDeleteI recently came across another source of advice on renovation costs at Ontariocontractors.com (http://www.ontariocontractors.com/costs.htm). That site lists the cost of supplying and installing a deck at $20/sq ft.
To the anonymous commenter who is requesting cost estimates to finish a basement, I cannot provide that, but I recommend you check out ontariocontractors.com website, or try to get an estimate from a couple of local builders. 7000 square feet! wow! that's one heck of a basement.
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ReplyDeleteThanks for this! This will definitely give us a point of comparison of prices of different companies for renovation. My, it does cost quite a bit having to renovate. Maybe not as much as building a new company, but it will definitely cost you. This is why it is imperative you choose the right contractor to give you a fair price for both the services and the materials to be used.
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