It could be money from canceled vacations or anxiety springing from the uncertainties of the times but many homeowners are now busy renovating their homes.
With most people spending more time at home, Canadians have begun investing funds in home improvements. Kitchen renovations and bathroom remodels are much in demand.
People who are still earning a stable income are putting their money in creating a home office in the basement or improving spaces in the home for increased comfort and function.
Of course, a home renovation will not only make your home more comfortable but will increase the value of your property as well.
Would you like to improve your home during this pandemic? Obtain free and no obligation quotes from our partner contractors to help you plan a successful project. Just fill out the short form on this page!
Why is it a good idea to renovate the home during this pandemic?
Due to an increased number of people working from home and going out less, home gyms, home offices with a nice view, finished basements, and larger bathrooms or kitchens are much in demand.
People who have hunkered down want their homes to be more suited to their new realities. Perhaps you long for more outdoor space so you don’t feel so confined. It may be a good time to install a covered patio where you can relax and have fun.
If you are now working from home, you also need to tailor your home to make it ideal for video conferencing, have more space for office equipment or office furniture, and a place to work where you feel creative and inspired.
Thus, it is a good time for you to finally get the basement finished and create a home office, or to convert an extra bedroom into an office.
This pandemic is a perfect time to have a home renovation to create a more comfortable environment to live, work, and play.
Renovation projects most suitable during this pandemic
Real estate prices are very high in Canada, even before the Covid-19 pandemic, and space is really precious. New lifestyles have increased the need for more space at home where we can do activities that we used to do outside such as working or exercising.
The following renovation projects can create MORE SPACE in your home.
Basement renovation – Home Office, Home Gym, Entertainment Room, Income Suite
The basement can provide extra livable space which can be perfect for a home office, a home gym, or an entertainment room (home theater).
Rather than using the basement just for storage, convert it into usable and comfortable space for you to enjoy.
While basement space isn’t counted in the same way as the upstairs square footage when calculating home value, a finished basement makes the property more desirable to buyers and can increase selling price. Basement space is usually listed separately when a property is listed.
This is if your basement has exterior wall insulation, paint on walls and ceiling, tiled flooring, and useful areas such as a bar, a main room, or a bathroom.
If you have an unfinished basement or want to transform the basement into a more useful space, speak to our partner contractors and get the best ideas and price for your project.
The true cost of finishing a basement
An unfinished basement does not serve you well; it is just a dark space that collects cobwebs. You can turn it into a cozy space you can use for many purposes.
Finishing a basement is expensive but it offers a high return on investment. With the right execution, choice of materials, and design, homeowners can recoup more than 75% at resale. If you are living in your home for at least 5 more years, you are in a great position to recover most of that investment and enjoy a new basement.
How much will finishing the basement cost? It can be difficult to find an exact answer because the cost depends on the following:
Paint and Trim
Size of the basement
Desired features: bar, toilet, kitchen, separate egress
Contractors estimate the cost for finishing a basement as follows:
Basement Square Footage
400 to 500 sq. ft.
$15,000 to $18,000
500 to 600 sq. ft.
$18,000 to $22,000
500 to 700 sq. ft.
700 to 800 sq. ft.
800 to 900 sq. ft.
1,000 to 4,000 sq. ft.
These costs can increase if you want to install a bathroom (from $12,000 to $20,000) and other features like a kitchen, a bar, or a bedroom.
Basement contractors can provide you with accurate quotes you can compare and choose from. A professional assessment based on your specific needs is the best way to know the real cost of your basement project.
Fill out the form below to receive free and no commitment quotes from basement contractors in your area.
Patio or Deck – Outdoor Living Space you can enjoy all-year-round
Your backyard can add function to your home with a renovation. By using a good design, you can fix some of the shortcomings the home’s interior with a patio or a deck. For example, if your kitchen lacks space, adding an outdoor kitchen where you can barbecue can be a good investment.
You can increase living space and home value at resale, with a projected return on investment of about 12%. A deck or patio provides a stronger connection with nature, making it possible for homeowners to enjoy the outdoors without leaving home.
The cost of a patio installation
While it may sound exasperating to hear, the cost of a patio will vary widely, depending on the type, size, purpose, and design. It is difficult to pinpoint the cost without knowing specific information such as materials you prefer to use and how you want to use the space.
But in the most general terms, the project of installing a patio can cost from $10.00 to $80.00 per square foot.
We realize that this is a very wide range so we will try to break down the cost based on size, materials, and design.
You can find many different options for materials for your patio. Concrete pavers are very popular as they are easy to install and offer different designs and colors.
Gravel: $7.00 to $15.00 per square ft.
Pavers: $14.00 to $45.00 per square ft.
Stone: $17.00 to $65.00 per square ft.
The above prices are just estimates and may vary from one contractor to another but they already factor in the cost of installation.
A smaller patio such as an 8’ x 8’ is not really cheaper than a larger 17’ x 25’ because their construction is not as efficient. Big patios can be excavated using large equipment whereas small spaces need to be done by hand.
If you want to save on costs, go for simple rectangular shapes as they are easier to build.
Typical patio sizes to consider and their prices
The size of your patio will depend on your available land.
An 8’ x 8 (bistro patio) is ideal for small backyards. It is labor intensive because hand tools are used and costs about $40 per square ft., on average.
A medium-sized patiois generally about 250 square feet and can be large enough to accommodate a patio table for 6 persons. This is ideal for a larger backyard and a small loader can be used to do the digging for efficiency.
The average cost for this project can be lower at about $30 per square ft.
A grand patio is typically 800 square feet and can accommodate a dining area with room for extra lounge chairs. Large patios can feature a firepit. It can also have a bar or outdoor kitchen.
How much does a deck cost?
Nothing can be more enjoyable than relaxing on your deck sipping wine or a hot cup of coffee. How much do you need to build a deck in your backyard?
Below are the average prices for decks based on materials and complexity of the project.
Cost (Materials and labor)
$35 to $50 per square ft.
$50 to $65 per square ft.
$62 to $85 per square ft.
$35 to $50 per square ft. (if building a base structure)
$52 to $87 per square ft.
Experts say that wooden decks have the highest return on investment. They are also very durable, lasting from 10 to 50 years, depending on the type of wood and level of maintenance.
Popular choices of wood for decks include cedar, treated wood, roasted wood, and composite wood.
Each type of material for a deck comes with pros and cons so it is important to ask questions from a reputable contractor.
When making a choice, compare durability, appearance, ecological benefits, maintenance, and price.
You can request for free quotes from our reliable partners by filling out the form below. Whatever you dream of renovating at this time, contractors in our network will be glad to help you!
Kitchen renovations for increased function and value
Homeowners now have more time to cook their meals and enjoy eating at home. It may be a good time to renovate the kitchen to increase space, improve the design, fix problems, etc.
Not surprisingly, a kitchen renovation is one of the most popular projects at any time. It is the focal point of ever home and it is critical for a kitchen to be functional as well as beautiful.
A kitchen renovation would usually include:
new fixtures or hardware
A kitchen renovation can be costly, with many homeowners spending from $18,000 to $35,000 on a mid-range renovation.
Contractors will be happy to work within your budget to deliver the most satisfactory results that suit your needs.
This type of project not only improves your life but also increases home value. According to the Appraisal Institute of Canada (AIC), the kitchen is important because it is where the family gathers and is also a big selling point at resale.
With a return on investment of 75% to 100%, your money can be wisely spent on a kitchen renovation with a reputable contractor.
Safe and worry-free home renovations with reliable contractors
The best thing about working with a reputable contractor from Compare Home Quotes is that they know how to deliver a home renovation under safe conditions.
Most contractors keep the planning phases contactless for your safety and convenience. They comply with health practices at the work site to protect their workers as prescribed by the Occupational Health and Safety Act.
They will also take care of all aspects of the project – from obtaining building permits, design, materials, and the necessary trades so you don’t need to do the legwork.
From start to finish, you can count on our partner contractors to deliver a high-quality and cost-effective renovation for your peace of mind.
Do you need help for a basement, kitchen, or patio renovation? Just fill out the form below and get connected, FREE OF CHARGE, to the right contractors in your area
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