Thinking about home renovations is quite natural, and so is being curious about them. Home renovation is something that we do not opt for regularly, and hence it is essential that we plan out well beforehand. In this blog below, we will be taking a rough guess about what the current expenses for your renovation can reach up to. A home renovation can vary from painting the exteriors to changing the bathroom completely. But whatever it is, the expenditure must be worth every penny.
Our guide below will help you plan effectively for the big game ahead.
Bathroom Renovation
Bathrooms are considered to be one of the most integral parts of your home, and they are equally essential in a house too. Hence, it needs to be kept in the best functional stage in order to prevent any breakdowns. This area requires repairs and maintenance and the storage needs to be updated. The plumbing and fixtures must be in the best state to yield the best results. After a bathroom renovation, your life will also seem to smoothen out. For a mid-size bathroom renovation, you will require an average cost of $17,000. This cost includes almost everything in it.
Kitchen Renovation
The experts believe that a homeowner in Ontario must spend an average of 10% to 15% of the entire property valuation on renovating the kitchen. But if you want to reside in your own house after renovating, you can also spend up to 25% on your kitchen. According to experts, it will take around $50,000 to modify the kitchen through professional renovators. This cost will include everything ranging from new appliances, countertops, floor replacements, or cabinetries. The final cost will depend on the finishes you are choosing. Kitchen renovation has become extremely popular with more people eating at home nowadays.
Basement Renovation
If you aim to increase the available space in your house, then basement renovation is the ultimate solution. This sort of renovation project is normally costly, and you can increase both the square footage and space utilization of this area. You can convert this space to a basement suite, home office, gym, playroom, or bar. If every aspect needs a change and modification, you could reach up to a bill amounting to $50,000 or even higher. However, these renovations have a high ROI and might give you a return of up to 70.3%.
Home Expansion
A home expansion is yet another easy way to increase the space in your house. These are very popular projects in Ontario as the homeowners will be able to enlarge their homes at much lower costs as compared to buying new ones. Home expansion examples include adding a garage with a bedroom above it or an addition of a lateral sunroof. You can also add a second floor to your existing one. Building a garage would roughly cost you around $90 to $120 per square foot while expanding a full floor might cost you around $175,000 or more.
Patio Or Deck Installation
Most of us like the added space in our homes to spend more of our leisure time. So what is going to be better than adding up a patio or a deck to our exteriors? This livable outdoor space can be incorporated with features like a dining area, lounge, fireplace, pergola, or outdoor kitchens. This is going to be a unique and comfortable area of your property where you can relax and have fun. The cost determination is difficult at this stage and depends on many factors like your patio size, the design you have selected, or the materials you are using. The average installation cost would be around $2,500 to $10,000. Further intricate designs can cost you about $5,000 or more.
Siding Replacement
If you want to strike an impact with your exteriors, go for a siding replacement today. This will change your entire exterior detailing and will provide you with a themed outdoor, which will increase the curb appeal of your space. This also has other functions like thermal insulation and protects against pests, heavy rains, fire, or snow. These replacements are of extremely high quality, and they are known to last very long. You can choose various materials for the job like vinyl, aluminum, stucco, brick or stone, and fibre cement. The average cost for this lies in between $6.50 to $45 per square ft.
This is just a rough overview of the entire renovation cost involved. However, before you hop in for any renovation project in the Ontario region, make sure you have thoroughly researched the market trends. Usually, the costs vary from place to place depending on various factors; one of them being whether you are renovating in a big city, medium-sized, or a small one. Based on your city, the actual cost of renovation can be estimated. However, if you are not planning for renovation right now, it is a good time to invest in Ontraio’s affordable housing market which features some amazing options at great locations like Ottawa, Windsor, London, Sudbury, and many more.
Most home renovations can be done at any time of the year. But you must do it when you are completely ready for it and have the necessary budget and knowledge about it. The results must be pleasant, so book the contractors right in advance and get exciting discounts and offers.
