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Are you planning a home renovation? Any home improvement project can be fun and exciting but for it to be successful, you need a good contractor to help you.
Whether you are replacing doors and windows, remodeling the kitchen, or doing small repairs, it is important to have a professional do it for you. As the home is your most valuable asset, you need to make sure the value of your home will increase after the project.
Reputable contractors in our network will ensure that your home renovation is to your complete satisfaction and for the right price.
Compare FREE and NO OBLIGATION quotes for bathroom, kitchen, and all types of renovations in Greater Sudbury!
When planning a renovation, it is normal to be worried about the cost and want to find ways to reduce expenses. Turning to DIY work to save dollars is not the best way to carry out a home improvement project. Unless you are skilled and experienced at this type of work, it is best to leave it to the hands of professionals.
There are different types of contractors for home renovations. Depending on the nature of your project, you can choose to hire a general contractor or a specialized contractor. While general contractors can take on any type of project, many specialized contractors focus on specific room renovations, such as:
Contractors provide custom home solutions to meet your goals – increase living space, improve design and aesthetics, increase energy efficiency, or increase market value.
Working with a renovation contractor for any type of home improvement project provides significant benefits.
Of course, when you have a contractor to manage and supervise the project, it becomes stress-free and convenient. Because you know that skilled and experienced people are doing the work, you have peace of mind that the results will be very satisfactory.
But most importantly, hiring a contractor for your home renovation has these huge benefits:
Risk-Free: When you work with a contractor, your project becomes risk-free because the company carries insurance for damage and workers’ compensation. As a homeowner, you don’t assume liability for injuries or accidents.
Warranty: Contractors also provide a warranty for their work. Thus, if the result is not up to safety or quality standards, they have the duty to return and fix the problem at no extra cost to you.
Higher market value: A professional home renovation can increase the market value of the home. An efficient and well-planned kitchen or bathroom renovation can increase the selling price of your property at resale.
Efficiency: A contractor is experienced at all types of renovations and will ensure the efficient scheduling of deliveries and installation and the use of materials. Thus, you save on time and money.
Professional advice: A contractor will be on hand during the project to offer you valuable advice in the design, selection of materials, budget, and other issues.
Savings: Good contractors can guide you in your choices so you can save money. He will explain to you the pros and cons of important decisions you make so you can choose wisely. For instance, if you want to change the layout of the kitchen, he will explain to you how it will impact your budget and if there are other viable options.
As you can see, you will derive many advantages from hiring a reputable contractor for your project.
If you want to compare contractors in your area, just fill out the form on this page.
We will be happy to connect you with the best contractors, free of charge!
Are you wondering about the cost of your home renovation? In general, the project cost is estimated per square foot which includes labor and materials. It must include everything – framing, insulation, wiring, demolition, plumbing, heating, and all the fixtures needed.
So if you ask a contractor how much he charges for a kitchen renovation, he won’t be able to give you an accurate figure without knowing details such as design, size of the area, and type of materials.
Factors that affect the cost of your project
Design: A professional designer or architect may be involved, for which fees may be charged. It all depends on the type of project you have. Some contractors can offer design services as part of their package.
Permits
Building permits, plumbing permits, and coop permits need to be included in the cost. A contractor will be knowledgeable about permits required by your project and can advise you of the cost.
Site Preparation or Demolition
Demolition and preparatory work such as leveling or stripping will entail costs that the contractor will account in the budget.
Labor
When you have a final design, the contractor will take into account for labor costs for every aspect of the construction.
Materials
A contractor will also calculate the cost of the materials you choose. The quality of the materials will have a big effect on your budget but you will never go wrong when you choose good quality over cheap ones.
Overhead
When calculating the cost, a contractor will also consider his overhead costs which would include insurances, license, permits, certifications, etc. Generally, a contractor would go for a profit margin of 10% or more.
It is also necessary to budget about 10% to 15% for contingencies.
A reputable contractor will always provide a detailed cost of the project in writing. When executed in a contract, he is bound by law not to exceed 10% of this quote unless new work is agreed upon. As such, a contractor will exert all effort to give an accurate quote.
Tips to minimize home renovation costs
Worried about your budget? Our partner contractors will offer tailored solutions to your home renovation needs that suit your budget. They will be happy to work with your budget so that you can get the best results for what you can afford.
A home renovation can be expensive but homeowners have various options when it comes to financing a project.
For instance, Greater Sudbury provides financial assistance through the Ontario Renovates Program which grants forgivable loans of up to $20,000 to eligible homeowners. Moderate and low-income residents can do urgent or emergency repairs and renovations using these funds.
Canada Mortgage and Housing Corp (CMHC) also recommends the following options:
Savings for small renovations: You can use personal savings to fund small projects.
Personal loans: These offer a lower interest rate than credit cards.
Personal credit line: Funds that can be accessed as you need them with interest rates lower than credit cards.
Secured line or home equity loan: These offer the advantages of a regular credit line but with a preferential interest rate. Your home equity acts as a collateral for the loan.
Mortgage refinancing: You can get a better interest rate and avail of fresh funds you can use for a home renovation with repayments spread out over a longer period.
You may also be interested in availing of federal or municipal grants for renovations that aim to increase energy-efficiency in the home. For instance, CMHC Green Home offers a 25% premium refund when you renovate using funds that are CMHC insured.
Is your home getting too small? Are you thinking of selling and buying a new home for more space?
It may be cheaper for you to increase your living space with a basement renovation. This type of project can expand your space by as much as 35%. It will also cost you less to renovate than to sell a house wherein you must pay taxes, moving costs, and other miscellaneous expenses.
Located underneath the home, your basement can be more than storage space. It is a cost-effective renovation project with a high return on investment.
The square footage of a basement does not usually count when calculating the footage of the home. It can make a big difference when you turn it into livable space!
If you have an unfinished basement, you can create:
You can also create passive income when you convert a basement into an income suite or basement apartment. Many homeowners in the GTA have used this creative strategy to increase their wealth. Aside from having a steady cash flow, it will also increase the market value of the home.
How much does a basement renovation in Sudbury cost?
The cost of a basement renovation varies based on the scale of the project and the materials you plan to use.
Factors that can significantly affect the total price include:
An average basement renovation costs anywhere from $35 to $60 per square foot. For example, a basement with 500 square feet may require a budget of at least $17,500.
Some of the important aspects of a basement renovation that affects the cost are:
The upgrades and finishing touches will increase the required budget. The required building permit for this project will also cost from $300 or more.
Setting the budget for a basement renovation is important. Speak to a reliable contractor and don’t be shy to be honest with what you are willing to spend. A good contractor will work with you so you don’t exceed your budget without compromising the quality of the project.
How will a finished basement increase the home’s value?
A successful basement renovation can provide you as much as 70% return on investment. A finished basement, due to its extra space, motivates buyers to pay more for the home.
Even if you are not thinking of selling the house yet, you can enjoy and take advantage of the extra space or even get rent income that will help to pay off the mortgage.
Many people feel anxious about hiring a contractor because they worry about spending too much or being tricked. Stories about disappearing contractors or padded projects have managed to instill fear in many homeowners. Thus, it is important to understand what you are getting into and to know how to choose a good contractor for a home renovation.
Below are important questions that can guide you about planning a home renovation with a contractor in Sudbury.
Is it better to hire a general contractor or a specialized contractor? What is the difference?
A general contractor works on different types of home renovations while a specialized contractor generally offers specific room renovations such as basement renovation or kitchen renovation.
If you are doing multiple renovations simultaneously, such as a kitchen renovation and a bathroom addition, it is advisable to go with a general contractor. For specific or single type projects, you can choose a general contractor or a specialized contractor.
How do contractors calculate their fees?
Most contractors offer a cost-plus contracting system. They estimate the cost (labor and materials) and add a profit margin (from 10% to 15%) to cover their overhead costs. Many contractors offer a turn-key project where all the costs are included.
Is a contract required even for small renovations?
The Consumer Protection Act recommends contracts with a value of at least $50 be put in writing for the protection of consumers. If you hire a contractor, he is required to provide a written contract that indicates important details such as start and completion date, breakdown of the costs and the total price, schedule of payment, the name, address, and contact details of the contractor, the scope of the project and materials to be used, etc.
Can I change my mind about a contractor?
A cooling-off period of 10 days from the time you sign a contract is provided in case a homeowner changes his mind. This allows you to cancel a renovation contract without fear of penalty. However, you will need to pay for any work done or materials supplied or used during this period.
How do I verify a contractor?
We verify all of our partner contractors based on their credentials, qualifications, track record, experience, and service quality. You can, however, do your own check with the Better Business Bureau, trade and professional organizations such as the NorthEastern Ontario Contractors Association, Sudbury Contractors Association, or the Ontario General Contractors Association. You must also ask for 3 or more references from a contractor from his most recent clients as a testament to his work.
How much is the down-payment for a contractor for a home renovation?
Any home renovation project should not have more than a 10% down-payment. Avoid any contractor asking for a huge cash outlay or wanting to transact only in cash deals.
Can a general contractor do a flooring renovation?
A general contractor will supervise and coordinate each aspect of a home improvement project. He will hire skilled trades for specific jobs such as flooring, painting, ceiling, or plumbing. You can also hire a floor renovation specialist if you are only doing this single project.
If you are thinking of renovating your home to increase space, market value, or prior to a sale, the best decision you can make is to hire a good contractor.
Our network consists of experienced and reputable contractors in:
Our partner contractors specialize in whole-home renovations, home additions, exterior renovations, major or minor home repairs, deck or patio installations, kitchen and bathroom remodels, and many more.
Fill out the form below to get FREE and NO OBLIGATION quotes from reputable contractors in your area. Take your time to compare quotes to choose the best offer that suits your needs!
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