10 January 2022,
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Last update: January 10th 2022

Are you thinking of doing a home renovation to make your home more suitable to your changed lifestyle or needs?

If so, it is natural to be curious about how much a home renovation will cost. Since a home renovation is not something we do every day, you may have no idea how much you need to prepare.

We want to take the guesswork out of your project by providing you with information about the current prices of various home renovations. You can also request for actual quotes based on your home’s details using our short online form, free of charge!

A home renovation can as simple as painting the exterior of your home to a multi-room addition. Whatever the size of your renovation, we know you want it to be worth every penny of your investment.

Hence, we have prepared information below that can be valuable to planning your project!                                                              

Feel free to ask for advice from our renovation partners and compare free and no commitment quotes using our short online form on this page.

Why is it important to renovate your home?

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Many homeowners want to renovate their homes because their needs have changed. Families get bigger and may need more room or privacy.  Renovating a home such as a home addition or expansion can be a lot cheaper than buying a new house and moving out.

On some occasions, lifestyles have changed such as new hobbies or perhaps a new home business that requires space or re-designing the home for convenience.

In some other cases, homeowners need to renovate to fix certain issues such as floor damage, poor insulation, outdated walls, lack of storage space, foundation issues, etc.

But whatever the reason, fiscal considerations play a major role in a homeowner’s decision to renovate. For example, if your energy bills have spiked without a good reason, a home renovation to increase energy efficiency is a good solution.

 If you are planning to sell your home, a home renovation can increase property value. A kitchen or bathroom renovation can boost your selling price from 75% of the project’s cost.

What home renovation is best in Ontario?

When planning a home renovation, a homeowner will surely have an idea of what type of renovation is needed. The problem is when several things need to be renovated and the budget is not enough.

If you don’t have a lot of money to do a total makeover, it is critical to prioritize which renovation is urgent or will provide more value for your money. You should also consider your goals for renovating.

Home renovations that provide the highest return on investment are interior and exterior painting, doors and window renovations, kitchen and bathroom renovations, and energy-efficiency upgrades.

For homeowners who need more space, the most popular renovations are garage addition with upstairs bedroom, basement renovation, patio renovation, and deck installation.

There is no single answer regarding which home renovation is best. Rather, the right project will depend on your goals, your existing space, and your budget.

Popular home renovations in 2022

Consider-the-higher-potential-of-your-home-with-a-well-planned-home-renovation

We all know how much our lifestyles have changed beginning in 2022 due to the health crisis. As a result, many Canadians have spent more time at home as a response to the government’s call for social distancing. More and more people have also chosen to work from home or study from home.

Due to these changing lifestyles, people’s needs and expectations from their homes have increased significantly.  Space has become very important along with more privacy.

In 2022, the following home renovations have become in high demand in Ontario.

Bathroom renovations

Bathroom-renovations-increase-the-resale-price-of-your-home

A bathroom is, undoubtedly, one of the most important parts of a house because every member of the family needs it. It is also the most frequented part of the house.

Because of its frequent usage, a bathroom is also the first to age or need repairs. The tiles may look old and dated, storage space may be inadequate, and plumbing could need repairs or replacement of fixtures.

When you renovate a bathroom, your daily life becomes more convenient and comfortable. This project will also increase the resale value of your home.

The average cost of a bathroom renovation (mid-size) is around $17,000, according to experts. This includes updating the sink, faucet, flooring, countertop, vanity, toilet, plumbing, electrical work, and labor.

Kitchen Renovation

Replace-countertops-or-improve-kitchen-lay-out-with-a-kitchen-remodel

The Appraisal Institute of Canada says that the average amount any homeowner should spend on a kitchen renovation is from 10% to 15% of the property value. If you plan on staying in your current home for a good long time, you can even spend as much as 25% of the home value.

Most experts agree that the average cost of a professional kitchen renovation is around $50,000. This includes new appliances, cabinetry, countertop, floor replacement, etc. The final cost will really depend on the finishes selected.

A kitchen renovation is very popular nowadays because people are eating at home more often.

Basement renovation

Get-more-livable-space-with-a-basement-renovation

One of the best ways to increase space is through a basement renovation. Although this type of project is one of the most expensive, it effectively increases square footage and maximizes the use of space.

A basement can be converted into a:

·         basement suite/income suite

·         home office

·         gym

·         family room

·         playroom

·         bedroom and bathroom

·         entertainment room

·         bar and kitchen

This type or project is complex, depending on your end goal and the current condition of the basement. It could entail drywall installation, insulation, lighting, flooring, heating or cooling systems, moisture-proofing, cabinetry, plumbing, etc. In fact, you could end up with a bill of $50,000 or more.

The good news is that you will get, in return for your investment, a significant increase in floor space and value to your home.

The “Cost vs. Value” report of Remodeling magazine also puts a basement remodel return on investment at about 70.3%. Thus, it is one of the best renovations with a high ROI.

It is important to note that usually, the appraised value of basement space is only half of what is above the ground. Some real estate brokers don’t count basement space in the square footage when listing a property. However, research shows that most homebuyers are delighted with a finished or renovated basement.

Home Expansion

Consider-adding-a-garage-with-an-upstairs-apartment-for-more-space

Another effective way to increase space is with a home expansion. This type of project is very popular in Ontario as it allows homeowners to enlarge the home at a lower cost compared to buying a new house.

Examples of popular home additions include adding a garage with a bedroom above it, or a lateral addition of a sunroom, or adding a second floor to your existing home.

If you love your neighborhood but need to dramatically increase space, a single or multi-room addition is a perfect solution.

Building a garage in Ontario is estimated by square foot, depending on the finish options required. To give you a rough ballpark, a garage could cost $90 to $120 per square foot

The cost of adding a garage is calculated by the size of the building and the selected finishing materials you want.  As a guide, a garage in Ottawa cost could from $80-$125 per square ft. If you want a livable space above the garage, the cost could increase significantly to $135 to $150 per square ft.

Of course, your contractor would take into consideration the building codes required in your municipality.

Expanding the home with a full floor can cost from $175,000 or more while a lateral single-room addition can cost from $35,000 or more.

Patio or Deck Installation

More-outdoor-space-with-a-patio-or-deck-installation

Many of us would like to use the available outdoor space in our home to allow us to enjoy nature more.

A patio or deck installation serves this purpose because it provides livable outdoor space that can be used throughout the year. You can relax, rest, work on hobbies, entertain, and even dine in an outdoor patio.

Modern patios have incorporated features such as a fireplace, dining area, sitting area or lounge, bar, outdoor kitchen, fire pit, pergola, and other interesting amenities to make it a unique and comfortable space.

It is difficult to say how much it would cost to build your patio as it depends on the size, your selected design, and the materials you choose. The average cost to install a patio could be from $2,500 to $10,000. If you want an intricate design with pavers, it can cost from $5,000 up. A flagstone patio can cost as much as $20,000.

Patios can be of many sizes but the popular ones are:

·         42 sq. feet (Bistro patio)

·         168 sq. feet (Dining patio)

·         216 sq. feet (Living room patio)

·         432 sq. feet (Living room and dining area)

·         864 sq. feet (Entertainment area and outdoor kitchen)

Decks and patios often provide the same functions – outdoor recreation, relaxation, and a place to gather with friends or family. Decks are usually elevated while patios are level to the ground.

Wooden decks offer a high return on investment and are sought-after by homebuyers.  If your property is located near the water or a scenic view, a deck will allow you to enjoy the view.

The average cost for building a deck is at least $25 per square foot. This can change significantly if you opt for premium materials such as natural wood.

For example, a 20 x 20 deck made of wood composite could cost from $12,000 to $19,000. When using premium wood, the cost could go up to $25,000 or more.

Patio vs. Deck Installation

Adding a deck is more complex than a patio and should be done by professionals. Decks are more ideal for uneven terrain. Before you decide between a deck and a patio, it is important to evaluate the space where you will construct and get professional advice.

Wooden decks have a higher return on investment and can increase property value. However, they require more maintenance than patios. You can enjoy the view from your deck but have more privacy with a patio.  

Speak to professional patio and deck contractors to consider your best options and get more value from your home renovation.

Siding Replacement

Improve-your-home’s-exterior-with-a-siding-replacement

Exterior siding has a great impact on your home’s appearance as it provides the theme for your exterior, thereby increasing curb appeal.

Siding also performs other important functions. It helps insulate your home and protect your structure from the harsh Canadian climate. It guards the home from pests, fire, heavy rains, and most other threats posed by Mother Nature.

Exterior siding of high-quality can last many years. Although siding installation or replacement can come at a high price, it will repair structural damage and increase your home’s energy efficiency.

Experts put the return on investment for siding replacement at 50% to 75% at resale. The average cost to replace siding will be based on the siding material you choose.

The prices below can give you a good idea of how much you need to replace siding.


Siding Material


Average Prices


Vinyl


$6.50 to $9.00 per square ft.


Aluminum


$8.00 to $10.00 per square ft.


Fiber cement


$9.00 to $14.00 per square ft.


Stucco


$10.00 to $12.00 per square ft.

 

Brick/Stone


$43.00 to $45.00 per square ft.

 ** These are average prices and not actual quotes from our renovation partners.

 Is your home’s exterior looking dated? It could be a good time to plan an exterior renovation with siding options available in the market. A siding contractor can assist you in giving your house a facelift for a reasonable cost.

You can also plan several updates for your exterior simultaneously. For instance, for a bungalow using vinyl sides and brick exterior, the budget needed on average is $20,000. You can also improve the home’s insulation with new windows and replace a shingle roof.

Home Improvements and their Estimated ROI

Home-renovations-offer-a-return-on-investment-in-the-long-term

Home renovations will pay off in the long run. They also increase your comfort, improve the quality of life, increase property value, and even provide savings on energy bills.

Many homeowners are concerned about recovering costs but not all home improvements are recoverable. Some renovations pay off higher returns. In the end, your decision on what to renovate depends on your goals.

To help in your decision-making, we have listed the estimated ROI of several home renovations for you to consider.


Type of home renovation


Benefits


Estimated return on investment (ROI)


Kitchen renovation

 

Higher level of enjoyment and convenience
Potential increase in resale value


75% to 100%


Bathroom renovation


Increased convenience and comfort
Potential increase in resale value


75% to 100%


Garage addition


Increased storage space, potential for extra livable space,
increase in home value


50% to 75%


Windows renovation


Improve home insulation, energy savings, increase in home value


50% to 75%


Basement renovation


Increase in livable space,
increase in home value


50% to 75%


Patio or Deck renovation

 


Increased livable space, more outdoor space to enjoy, increase in property value


50% to 75%


Roofing replacement


Improve insulation, increased protection of your home from the elements, save on energy bills, higher resale value


70% to 75%

While a home renovation can cost a huge sum of money, you get a lot of benefits in return if you choose your project and work with a professional contractor. 

When is a good time for a home renovation?

A home renovation can be critical and need to be done as soon as possible if it aims to fix urgent issues such as poor insulation, leaks, poor air quality, security risks, or if you are experiencing discomfort or inconvenience.

For example, it would be difficult to postpone plumbing repairs or electrical repairs because they are generally urgent.

In general, a homeowner should plan a home renovation when it becomes necessary.

Some home renovations for the exterior such as roofing, siding, exterior painting, deck installation, and patio renovation are ideal in spring and summer.

Most interior renovations can be done any time throughout the year including kitchen and bathroom remodels, basement renovations, flooring replacement, windows and doors, and wall renovations.

Renovation contractors are usually fully booked in spring and summer. Schedule your project ahead of time and consider renovating in the fall or winter to get potential discounts.

FAQs for Home Renovations in Ontario

You need to do your research before starting a home renovation to make sure your project is stress-free and successful.   It is important to know your rights and responsibilities as a homeowner to protect your investment.

Below we present some frequently asked questions about home renovations to serve as your guide.

Is it mandatory for me to hire a contractor for a home renovation in Ontario?

No law requires a homeowner to hire a renovation contractor. You can decide to DIY home improvements. Know, however, that certain home renovations can be complex and time-consuming. If you are not experienced in this type of project, you could spend more money on a DIY project or even fail to finish it.

Certain works require licensed tradesmen such as electrical work and plumbing. Some renovations have risks such as roofing repairs and replacement. It is better to hire a contractor as he would have the proper training, experience, and equipment to carry out the work safely in less time.

Why do contractors have different quotes?

Contractors also have overhead costs. Larger companies may have bigger overhead costs than smaller ones. This will often account for the variations in quotes. Of course, quality, warranties, and insurance also vary among firms. It is important to compare multiple quotes from different contractors to be able to choose the offer with the highest value.

Do contractors ask for a down payment?

Most contractors will ask for a down-payment when you sign the contract. We recommend paying no more than 10% of the total project cost initially. Contractors will bill you based on the progress of the work. Avoid hiring contractors that ask for a large sum as a down payment or cash-only-transactions.

Do I need a building permit?

Most home renovations require a building permit but requirements may vary from city to city. It is best to check with your municipality or you can refer to these guidelines from the Government of Ontario regarding building permits.

What is a general contractor?

A general contractor is a professional who will oversee or supervise your project. He will help you in planning your budget, schedule delivery of construction materials, coordinate different sub-contractors and schedule their work, and ensure that the project is timely and complies with building standards. He can also assist in obtaining the necessary permits for your project and troubleshoot problems during the construction.

What should be included in the home renovation contract?

Firstly, the contract must clearly indicate the business name of the contractor, address, and contact details. The contract must present a fair and correct description of the scope of the work, the cost of the project, terms of payment, warranties of the goods and services, the start and completion date, and sub-contractors required and who will pay for their work.

Who should get the building permit for a home renovation?

The homeowner is responsible for obtaining the necessary permits for a home renovation. If you hire a contractor, a homeowner can authorize him to apply for the permit. Both are liable for making sure that any construction work is covered by a building permit and that the standards established by zoning regulations are met.

What is a lifestyle renovation?

Lifestyle renovations are designed to satisfy needs that have changed such as turning into a guest room or adding a patio or deck.

What are retrofit renovations?

Retrofit renovations are projects that target the mechanical systems or shell of your house. Examples of retrofit renovations are siding replacement, furnace upgrade, or home insulation upgrade.

Do I need to find temporary housing while my home is being renovated?

Some renovations are extensive and invasive, making your house uncomfortable, noisy, and dusty during construction. Depending on your level of tolerance, you can decide to stay in your home and find ways to adjust with help from your contractor. In some cases, you may need to move out temporarily especially when you are doing a multi-room expansion. Your contractor will be able to advise you on what is most appropriate in your case.

What is a holdback and how does it work?

A holdback is a requirement from the Construction Act that stipulates that homeowners, contractors, and subcontractors retain 10% of the cost of materials or services for a project. Contractors have 60 days to request a lien on a property and 90 days to initiate legal action.

The law allows a homeowner to retain the last payment until he has verified the completeness and quality of the work and that no lien has been placed on the property due to a renovation.

What is the best way to find a good contractor?

The best way to find a good contractor is to compare at least three potential contractors. Check how long they have been in business and ask for their latest references. You can check their record with the Better Business Bureau and Canadian Home Builders Association (CHBA) in your city. You can get started by requesting free and no-obligation quotes using our short online form.

Want to get actual quotes for your home renovation?

Get-the-best-price-for-your-home-renovation

Our renovation partners can offer you free and no-obligation quotes for your home renovation.

With vast experience and solid track records, our partner contractors have thousands of successful projects completed. They can give you accurate and transparent quotes for your project.

Initially, they may schedule a virtual meeting, speak to you over the phone, or request photos and details of your project. In line with social distancing measures, any physical meetings are avoided as much as possible for your safety and convenience.

Whether you need contractors for:

·         Windows and doors

·         Home insulation

·         Kitchen renovation

·         Home expansion

·         Bathroom remodel

·         Patio or Deck Installation

·         Painting

·         Other types of renovation projects

We have reliable and experienced renovation contractors and specialists to assist you.

Just fill out the form below and get connected to the best contractors in your area, free of charge!

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