Top 10 Renovations and their Cost

How Much Does It Cost to Build…

The first question that most people ask before they renovate or build an addition  is “How much is this all going to cost?”. In this article, we are going to give you some straight answers about the going prices for some of the most common design/build requests.

How Much Does It Cost to Build – The Short Answers

These are the short and sweet answers to the question, “How much does it cost to build a …”, so that you can calculate your own quote.

Deck: $20,000 or $100 per foot @ 200sq/ft pressure treated wood with railings three steps up

Kitchen: $30,000.00 or $250 per foot @120sq/ft

Main Bathroom: $18,000 or $400 per foot @ 45sq/ft

Powder Room: $6,000.00 or $300 per foot @ 20sq/ft

Laundry room: $10,000.00 or $230 per foot @ 45sq/ft

Basement: $54,000.00 or $110 per foot @ 600sq/ft

Open concept: $18,000.00 or $1500 per foot of wall removed for 12 feet

Home Office: $6500 or $65 per foot @ 100sq/ft sound proofing and video call lighting

Home Gym: $14,000.00 or $70 per foot @ 200sq/ft rubber mat floor, mirror, exhaust venting, reinforced wall and ceiling for equipment support

Home Addition: $160,000.00 or $500 per foot @ 160sq/ft per floor for a total of 320sq/ft with unfinished basement

These estimates, that you can calculate yourself are going to give you a rough idea of how much it costs to renovate, add features, or build an addition, but in the end, it is your design/build expert who is going to be able to give you the most accurate quote.  That is because there are many complexities and factors that can affect a project including worker shortages, interruptions in supply chains and the unpredictable costs of certain materials.

The Hard and Soft Costs of Construction

How much it might cost to build anything is a question that is almost impossible to answer with a simple number, because there are two main aspects to the costs of construction: the hard costs and the soft costs.

 The Hard Costs

The hard costs are the expenses that are associated with the actual act of building, expanding, demolishing and renovating. This includes all the material costs, the labor costs and the contractor’s overhead.

Hard costs begin with everything that prepares the site for the project including signage, debris removal, security, a job site trailer, portable toilets, fencing and other specialty items.

They also include the gritty, hands-on part of building including the excavation of the site and the laying of the foundation if there is an addition being constructed. The installation or replacing of plumbing, electrical, HVAC, insulation, drywall, flooring and tiles are usually part of the interior construction.

Your construction project might also include a hardscape, which means a redo of patios, drive ways and walkways and maybe even landscaping such as the installation of a rock garden, fountain or swimming pool.

The cost of specialty or designer components are also part of any quote and include the installation of cabinets, appliances, bath hardware, mirrors, fireplace, handrails, moldings and decorative columns or wrought-iron metal.

It is also a 100% guarantee that no contractor is going to work for you for free. The design/builder must make a profit so you can count on that being between 20% and 25% of the construction costs.

The Soft Costs

The soft costs of a design/build may or may not be covered by your contractor, so you need to either factor in or discuss the cost of any land acquisition including any legal fees, titles and permits. Soft costs that may or may not be quoted by your contractor might also include soil reports, environmental studies, topography and easements.

There may also be costs for the installation of certain systems, such as security, sound, communications, automated window-blinds and wi-fi. In some cases, you might be charged for the application of a grant that pertains to your building costs.

Some projects, depending on their size and complexity might also include professional fees, for architects, landscape architects and mechanical, structural and electrical engineers, which is why it is always a good idea to have a talk with your design building expert before assuming that all costs are covered by a quote.

 Variables That Can Affect Construction Costs

There are several variables that can affect the cost of construction including location, size, design, site conditions, timing and builder selection.

Location

The home that  you decide to renovate in Vancouver or Toronto is going to cost you a lot more than the one you are fixing up in St. John’s or Saskatoon. The bigger the city is, the higher the labor and equipment costs tend to be. On the other hand, sourcing materials can be incredibly expensive if you are shipping them into a rural area and costs can soar if there is limited access to the site, as might be the case if you are renovating a cottage with old, gravel roads.

Site work is also often affected by the physical location. Any location that has clay soil, a steep slope or a sinking foundation is going to cost more. In general though, the more local you are with materials and labor, the less your design/build might cost.

Size

The bigger the square footage of the project, the more it is going to cost, unless it is a very sparse project with a simple layout. If the project includes construction or renovation of additional rooms then you might be facing additional costs, especially if it is a bathroom, kitchen or finished basement that involves the integration of plumbing and other components.

Design

The design of your build is very important because the more rooms, rooflines, windows, integrations and special custom features there are, the more expensive your rehaul or addition is going to be, simply because “time is money.” 

Consider All Costs Before Making a Decision

The general contractor or design/build team that you choose to execute these plans for you is also going to matter, so it is in your best interests to discuss everything that you can with them before you get a quote. The cost of a builder varies dramatically from company to company and often with good reason, so let them tell you about the variables that may affect their bottom line as they work with you.

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