Are you considering renovating your home in Toronto? You’re not alone – a growing number of homeowners are choosing to renovate rather than move. But how much will it cost? And what are the most popular renovations? Keep reading for answers to these questions and more!
Homeowners renovate their homes for a number of reasons – sometimes, they want to increase the market value of their house in order to sell it, or they simply want a better aesthetic for extra comfort and practicality in their daily lives. Whatever the reason is, home renovation costs in Toronto can vary greatly, and homeowners must be aware of their budget throughout any type of renovation process.
How much does a home renovation cost in Toronto?
In general, statistics point out that home renovation costs can go from $90,000 dollars to $200,000 dollars.
The home renovation cost in Toronto oscillates quite often due to several factors. Below is a list of what influences such costs:
Factors that Affect the Costs of Renovating a House
Homeowners must visualize what changes they wish to make in their homes first and foremost. Their wishes and needs will dictate how much money they can set aside for their renovation – for instance, renovating a bathroom will not cost the same as renovating a kitchen, and full reconstruction is not always needed.
However, if someone wishes to do a full house renovation, the project will naturally take a bigger toll on their budget. Therefore, it is vital that homeowners pay close attention to the personal budget they want to set for the renovation in order to avoid any unnecessary costs.
The square footage of a house greatly influences the renovation cost. Homeowners must calculate how much each square foot will cost separately to know the final price then.
Usually, it is important to set aside around $100 or $200 dollars per square foot – some specialists even mention a value of $300 or $350 dollars. So, if someone is renovating a 2,000 square-feet home, for example, they can estimate that their renovation cost will be between $200,000 or even $700,000.
Neighbourhood and House Location
The area where a house is located is an important factor for homeowners who wish to renovate their houses in order to sell them after. If the neighbourhood or street where the house is located is usually very safe, with many utilities nearby and good-looking homes around, a renovation will therefore require more significant retouches.
Interior Design Choices and Overall Renovation Demands
Homeowners must also realize that any changes they wish to make when decorating their homes will also influence the final cost. For instance – if homeowners select a certain type of stone for their kitchen counter, this option can end up being more expensive than other available alternatives.
Certain floor types, wallpapers or wood types are cheaper than others and provide the exact same – or even better – end results. Any renovation demands and interior design choices will greatly affect how much renovations cost.
Renovation Company and Contractors
Upon researching renovation companies and deciding which option is best, homeowners must be aware that they will be paying for a service that will influence their renovation budget to a great extent.
Therefore, homeowners must ensure that the company they choose to do their house renovation in Toronto will provide them with excellent service at affordable prices without exceeding any set costs.
The Real Estate Market
Every few months, the real estate industry sees house prices either dropping or skyrocketing due to various factors. With that in mind, homeowners must set a personal budget for a home renovation that is in accordance with the prices that are currently available in the market.
Home Renovation Budgeting Tips
There is no denying that homeowners must be prepared to spend a considerable amount of money in their home renovation process. Although there are a lot of variants that contribute to a change in the estimation of how much a renovation will cost, there are some helpful tips out there that greatly assist homeowners with their home renovation budgeting:
- Have a set, throughout plan.
- Do some work alone, if possible.
- Hire experienced contractors.
- Opt for good but cheaper materials.
- Mix floor materials.
- Set spending limits for each room.
- Set money for any extra costs, but avoid them as much as possible.
- Communicate everything with everyone.
- Sell anything that has no use.
- Re-use any materials in good condition.
- Select cheaper material alternatives.
- Combine different projects.
These measures allow homeowners to carefully select their renovation budget without being caught in many surprises and exceeding the set pricing so much in the end.
Also Read: Kitchen Renovation Costs in Toronto
How Senso Design Can Help You Renovate Your Home
Senso Design offers professional customer service when it comes to home renovations. We attend to the needs of our clients in a tailored fashion, providing them with whatever type of renovation they request.
Clients can schedule a free consultation with us, in which we will listen to their home renovation demands, provide tips on renovation best practices and start to get the work done in no time.
Contact Senso Design for Your Home Renovation Needs Today
Senso Design is a leader in house renovations. We provide clients with outstanding and professional services throughout all phases of their renovation process in Toronto and the GTA.
We renovate bathrooms, kitchens, entire homes, condos, and basements. Clients can check out our website and reach us at 416-900-3675 with any questions about our process or if they wish to schedule an appointment. Our specialist team is available from 10 AM to 6 PM Tuesday to Friday, until 3 PM on Saturdays, and by appointment only on Sundays and Mondays.
Contact Senso Design today, and let us take care of your home renovation!