How Much Does a Home Renovation Cost in Ontario? 

Renovating your home is an exciting and rewarding journey, but it comes with a price tag. Whether you’re considering small updates or a full home makeover, it’s crucial to understand how much a home renovation will cost in Ontario.

Here we will break down the average costs of home renovations, explore the factors that impact your renovation budget, and provide tips on managing costs effectively. 

The Average Cost of Home Renovation in Ontario

One of the most frequently asked questions when planning a remodel is, “How much will it cost?” The size of your home, the extent of the renovation, the materials utilized, and the standard of labour are some of the factors that can greatly affect the cost of home renovation in Ontario. On average, homeowners in Ontario should budget between $350 and $500 per square foot for a full house restoration. 

For instance, if you’re renovating a 2,000-square-foot home, the total cost can range from $700,000 to $1,000,000 or more, depending on the complexity of the renovation. It’s essential to account for both labour and material costs when creating a renovation budget. Let’s break down these costs further to help you get a clearer idea.

Factors That Affect Home Renovation Costs

Home renovations come in many shapes and sizes. Some projects are relatively straightforward and affordable, while others may require significant investment. The following are the key factors that influence renovation costs:

1. Scope of the Project The size and complexity of your renovation are among the biggest factors affecting cost. A minor renovation, such as updating your bathroom or refreshing your living room, can cost far less than a complete overhaul of your home’s structure or layout.

• • Small Updates: Simple updates like painting, updating fixtures, or replacing flooring typically cost less.
  • Large-Scale Renovation: A more extensive project involving structural changes, system upgrades (such as electrical or plumbing), or the addition of new rooms can significantly increase costs.

2. Material Choices

The cost of your remodelling will be significantly impacted by the materials you select. Luxurious finishes, high-end carpeting, and custom cabinetry will increase the cost of your renovation.

For example:

1. • Standard Materials: Basic materials like laminate countertops and vinyl flooring will be cheaper.
   • High-End Materials: Marble countertops, hardwood flooring, and custom-designed elements can increase your costs by tens of thousands of dollars.

3. Labor Costs

Labour is another significant factor in home renovation expenses. The cost of hiring skilled tradespeople, such as electricians, plumbers, carpenters, or designers, will vary based on location, experience, and expertise. In Ontario, labour costs are typically higher in urban areas like Toronto compared to rural regions.

4. Regional Variations

Costs can fluctuate across different regions in Ontario. Renovations in cities like Toronto, Ottawa, or Mississauga tend to be more expensive due to higher demand for services, transportation costs, and local market conditions. If you’re in a rural or less populated area, you may find that your renovation expenses are somewhat lower.

Renovation Cost Breakdown

To help you plan your renovation budget, here’s a breakdown of typical costs for different types of renovations in Ontario:

• Bathroom Renovation:

A typical bathroom renovation can cost anywhere from $10,000 to $25,000, depending on the level of upgrades. Simple upgrades like new fixtures and basic tiles can cost on the lower end, while luxury features like heated floors, custom cabinetry, and high-end finishes will push the cost to the higher end.

• Kitchen Renovation:

Kitchens tend to be one of the most expensive rooms to renovate. A basic kitchen remodel might start at $20,000, while a more extensive remodel with custom cabinets, new appliances, and high-end finishes can exceed $50,000 or more.

• Living Room Renovation:

A simple update, such as painting, new furniture, and new flooring, might cost around $5,000. However, if you’re aiming for a full redesign, which includes structural changes or custom features, the cost could climb to $15,000 or higher.

• Full Home Renovation:

As mentioned earlier, the cost to renovate an entire home typically ranges from $350 to $500 per square foot. So, for a 2,000-square-foot home, expect to spend anywhere from $700,000 to $1,000,000 depending on the extent of the renovation, material choices, and labour costs.

Smart Strategies for Managing Your Renovation Budget

Renovating a home can be expensive, but with careful planning and smart strategies, you can maximize your budget and avoid financial surprises. Here are some tips to help you manage your renovation costs:

1. Strategic Sourcing

Rather than purchasing everything through your contractor or interior designer, consider buying materials like tiles, fixtures, and cabinetry from wholesale suppliers or online stores. This can help you avoid the markup that contractors often charge.

2. Explore Government Incentives

The price of house renovations can be covered by a number of government programs. The Canada Greener Homes Grant, for instance, provides funding for energy-efficient improvements.

Additionally, the Multigenerational Home Renovation Tax Credit may provide some relief if you’re creating a living space for multiple generations within your home.

Final Thoughts

Home renovations in Ontario offer a wealth of opportunities to enhance your living space, but they come with a significant cost. Understanding the average costs of home renovations, as well as the factors that impact your budget, is essential to successful planning. With the right approach and strategic decisions, you can manage your renovation budget effectively, ensuring that you get the results you want without overspending.

Take your time, plan wisely, and make informed choices. Your dream home may be closer than you think!

For a personalized consultation and to get more insights on how to plan your home renovation, contact us at Prestige Construction and Landscaping. We specialize in home remodelling and project management and help you align your vision with your budget, ensuring a smooth renovation process. Get in touch now!