When considering a home renovation, cost is always a top concern for homeowners. Renovating an older home can be a rewarding and exciting project, but it can also be complex and expensive. In this comprehensive guide, our Recybac team explains the factors influencing cost, estimated expenses for different types of improvements, average costs and valuable tips to save on the initial budget.
5 factors influencing house renovation costs
Renovating your home is a long-term investment. To understand the cost, let's discover five key factors to avoid the unexpected:
- Renovation budget: The owner should think carefully about his wishes and financial capabilities. Different parts of the house will have varying costs. Having a clear goal in mind, such as improving interior comfort or preparing for rental or resale, is also part of the cost of the project.
- Scope of the work: Are you planning a small update, a partial or complete renovation of the house? The nature of your project will greatly influence the overall cost.
- Materials and finishes: The choice of finishes and materials needed for construction (hardwood or concrete floors, asphalt shingle roofs, kitchen cabinets, etc.), can have a significant impact on the final cost. Mid-range or luxury finishes? Their price range should match your current financial situation.
- Labor costs: Labor is another essential factor for good quality renovations. Fees for specialty contractors can vary depending on their location, complexity of the project, and experience.
- Permits and regulations: Keep in mind that some renovations may require building permits, which can be an additional cost.
Cost Estimation for Different Types of Renovation
Kitchen renovation
Kitchen renovations are the most popular choice for many homeowners. It's a great return on investment to refresh the room that brings family members together at the end of the day. According to RenoAssistance, the cost of renovating a kitchen varies from 19,000 $ to 72,000 $ on average in Montreal and Toronto.
Bathroom renovation
Have you ever thought about transforming your outdated bathroom into a relaxing home spa? To achieve this, the cost of a bathroom renovation, including fixtures and finishes, typically ranges from 5,000 $ and 25,000 $.
Transforming your basement
In addition to the kitchen and bathroom, basement renovations are another common project. If you want to expand your living space, a finished basement can cost between 20,000 $ and 75,000 $, depending on the type of material, such as thermal insulation, flooring or plumbing.
Outdoor facilities
Unlike interior projects that require a large investment, exterior improvements typically cost between 5,000 $ and 10,000 $The project mainly involves landscape renovation, garage renovation or window replacement, with a longer renovation process.
What are the average costs of a home renovation?
In reality, it is not easy to define an exact average cost for renovating a house. It depends on many factors, such as the age of the house, the square footage, the location, the quality of the materials, the design, etc. So here are some reference figures which can serve as benchmarks for your project:
- Complete renovation of a house (low end): 15,000 $ – 40,000 $
- Complete house renovation (mid-range): 40,000 $ – 75,000 $
- Complete renovation of a house (high-end): 75,000 $ – 200,000 $
- Complete renovation: 100,000 $ – 200,000
The average cost of renovating a home can also vary depending on the region and demand. For example, due to the high demand for home renovation services, Ontario is the most expensive province to remodel your home. On the other hand, Quebecers tend to improve their outdoor spaces, such as terraces, patios or swimming pools. It is therefore very important to research local trends and consult with specialized contractors to obtain reasonable estimates.
Ontario
- Average cost: 90,000 $ – 200,000 $
- Average cost per square meter: 100 $ – 300 $
Quebec
- Average cost: 19,000 $ – 60,000 $
- Average cost per square foot: 175 $ – 375 $
Alberta
- Average cost: 75,000 $ – 150,000 $
- Average cost per square meter: 60 $ – 200 $
British Columbia
- Average cost: 19,800 $ – 73,200 $
- Average cost per square meter: 100 $ – 200 $
In all the countries
- Average cost: 15,000 $ – 200,000 $
- Average cost per square meter: 100 $ – 200 $
4 tips for renovating your home at a lower cost
Renovating can be a headache without careful planning. Here are our tips to help you manage your budget effectively:
- Establish a realistic budget: Make a detailed plan and determine how much you can comfortably spend.
- Prioritize needs versus wants: Focus on essential upgrades first and consider luxury additions later.
- Reuse and renovate: Reclaim materials and fixtures from your existing living space where possible.
- Get multiple quotes: Request quotes from several contractors to find the one that best suits your project.
Home DIY or professional services?
One of the biggest decisions you'll make when renovating your home is whether you'll do it yourself or hire an experienced contractor. If you decide to do it yourself, here are some pros and cons to consider:
- Benefits: You have control of the project and it can be cost-effective for small tasks.
- Disadvantages: This can be time consuming and incur additional costs to correct errors.
When should you call in experts?
For more complex projects, choosing reputable contractors will save you time, ensure the safety of occupants and avoid additional expenses.
When it comes to construction waste management solutions, Recybac is still the first choice of many professionals And individuals for their renovation projects in Montreal and the surrounding area. Not only do we offer personalized, impeccable and environmentally friendly containers, we also take care of transporting the waste to recycling centers for reuse.
Understanding the cost of home renovation is essential for any home improvement project. The cost of living is never cheap; however, the return on investment will be a magnificent improvement in many ways, such as mental health, market value, and living standards. Be a smart investor with your decision, as there are many options available that will meet your expectations and renovation budget. Remember to consult different quotes, consult experts and consider these key factors before you take the plunge.
Recybac proudly offers a cost-effective, fast, adaptable and environmentally friendly waste management solution for your construction site. With our user-friendly online portal, you can easily manage your order in just a few clicks. For a quote tailored to your project, contact us!
