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    Default reno costs

    Hey all, anyone do a full house reno (gut to studs) recently? Curious about pricing. Some of the quotes we are getting is borderline insanity. Wondering if others are having similar experiences.

    1) Approximate cost per sq if you GC'd yourself?
    2) Approximate cost per sq if you used a contractor?

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    PMd

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    Care to share what prices you have been getting on quotes? Sometimes I wonder if doing a reno is more expensive than building new. I am building new now and curious what a reno runs these days.

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    It seems the reno business is still on fire and local firms are being very choosy when it comes to which jobs they take ($$$$$$$$).

    Friends are in the middle of reno with a 'insta-famous' local design company and are feeling quite neglected. They get the impression now that their low-mid 6-figure reno barely registers for the company and if they were starting from day one now, they likely wouldn't have got his group on the job.

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    Would love to know as well. We are slowly planning one. Not in a rush but would be good to know when things are cooling/trending down

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    If I was hiring a reno contractor, I would prefer one that wasn't "insta-famous".

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    Shit is still fucked. Do not recommend.

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    The only question is are the prices "borderline insanity" compared to actual market costs or, compared to the cost OP had in his mind.

    If you're looking at doing a down to the studs reno, it's just really expensive. I'm assuming you already have done this but if not......you really should fully understand what your long term goals are and evaluate the total "investment" you have into the property both now and when you're done (I'd factor in a 15% contingency on your final reno cost budget also). When you compare that investment to what houses sell for in your area you'll know if you're throwing money away (ie. does what you already paid for the house plus your reno cost make you house "worth" $350.00 a s.f. in a neighbourhood that has never sold a house for over $275.00 a s.f.?). You never want to be the most expensive house on the block*. If you're staying there for 20 years, you may say who cares. If you're moving in under 10, it may make you look at other options.

    * unless you live in Aspen
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    Quote Originally Posted by you&me View Post
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    It seems the reno business is still on fire and local firms are being very choosy when it comes to which jobs they take ($$$$$$$$).

    Friends are in the middle of reno with a 'insta-famous' local design company and are feeling quite neglected. They get the impression now that their low-mid 6-figure reno barely registers for the company and if they were starting from day one now, they likely wouldn't have got his group on the job.
    With all the supposed people flocking here from out east it wouldnt surprise me. Sell a 600k condo, buy a 500k house, do 100k in renos and have a much nicer place.

    Quote Originally Posted by JRSC00LUDE View Post
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    The only question is are the prices "borderline insanity" compared to actual market costs or, compared to the cost OP had in his mind.
    Quote Originally Posted by JRSC00LUDE View Post
    This quote is hidden because you are ignoring this member. Show Quote

    If you're looking at doing a down to the studs reno, it's just really expensive. I'm assuming you already have done this but if not......you really should fully understand what your long term goals are and evaluate the total "investment" you have into the property both now and when you're done (I'd factor in a 15% contingency on your final reno cost budget also). When you compare that investment to what houses sell for in your area you'll know if you're throwing money away (ie. does what you already paid for the house plus your reno cost make you house "worth" $350.00 a s.f. in a neighbourhood that has never sold a house for over $275.00 a s.f.?). You never want to be the most expensive house on the block*. If you're staying there for 20 years, you may say who cares. If you're moving in under 10, it may make you look at other options.

    * unless you live in Aspen


    I always think this when walking my dog, there is one singular big modern infill in Fairview. Probably 1500sq ft x 3 levels in a neighbourhood of all bungalows or 3/4 split level homes. It's probably worth ~800-1M and nowhere near any other house here. But if its a retire in it kind of home, it's perfect and I'm definitely jealous.
    Last edited by pheoxs; 09-26-2022 at 02:12 PM.

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    Recently had the house completely repainted, trim, doors, base. 2 coats of BM Regal and ScuffX was $13,000 all in for 9' ceilings & 2,700 sq.ft
    Ultracrepidarian

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    Quote Originally Posted by eblend View Post
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    Care to share what prices you have been getting on quotes? Sometimes I wonder if doing a reno is more expensive than building new. I am building new now and curious what a reno runs these days.
    There are so many variables in each, it's almost impossible to meaningfully compare them. Reno-to-reno, it even varies wildly. The biggest levers on reno cost (outside of initial scope and level of finishings, obviously) are age of the house, era it was built in (boom vs bust, types of standard materials e.g., poly-b, etc etc), and if companies/individuals have renovated it before. More often than not, renos have corners cut in them, and when you open something up and find the things done wrong by someone in the past, the price/scope tends to increase.

    Long story short, a reno could be cheaper than a new build. Or it could be more expensive. It depends. /consultant
    Last edited by bjstare; 09-26-2022 at 02:19 PM.

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    Depends, do you want builder grade crap?

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    Never reno, either build new in the burbs or knockdown and completely build new.

    Renos are dumb. I hate renos. My family hates renos. And ROI just never seems to be there.

    If it's a place you are living in permanently/for a substantial amount of time, you'll thank yourself 10-15 years from now when you built from the ground up.

    If you are looking to flip, then do everything below builder grade and keep it builder grade as possible. You can put a lot of lipstick on a pig house and the average person will have no clue the difference.
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    Quote Originally Posted by zechs View Post
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    Never reno, either build new in the burbs or knockdown and completely build new.
    In today's day and age, labour is such a huge component of build cost that hand demo to the studs aint gonna be cheap. It costs like $15-$20K to demo a house into a pit. Probably $30K to demo to the studs and you are still left with an old house. Are your walls 2x4 or 2x6? If 2X4, be prepared to pay out the ass for foam.

    Also, depending on age and the neighborhood, your development permit will likely require you to re-do water and sewer. In which case, you might as well build new. haha.

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    Agree that a down to the studs reno is almost certainly more expensive than building new. Unless you do literally all the labour yourself and place zero value on your time. In which case it'll take 3-5 years.

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    I've got quotes for a job I need going from 7k to 35k. Makes zero freaking sense. I want to do a new large deck but it makes sense to wait till next year as things will start to really slow down. Pricing should hopefully fall as well.

    Not sure why anyone's building new or starting a huge reno job right now. If you don't need to wait 6 months or a year.

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    Prices range from 140$ - $160 a square. However, a lot of vagueness in what that would entail. lol.

    We are in Bonavista so houses seem a bit too new to level. Costs for new build (bungalow) seem to be around $350 a square.

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    Quote Originally Posted by gwill View Post
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    Not sure why anyone's building new or starting a huge reno job right now. If you don't need to wait 6 months or a year.
    Same reason people pay $130k for a Hyundai G90
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    Quote Originally Posted by grampafunk View Post
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    Prices range from 140$ - $160 a square. However, a lot of vagueness in what that would entail. lol.

    We are in Bonavista so houses seem a bit too new to level. Costs for new build (bungalow) seem to be around $350 a square.
    Unless they are cutting serious corners, you’ll have a hard time doing it for $150/sqft. If they actually deliver at that price, I hope it’s not your forever home.

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    Quote Originally Posted by cjblair View Post
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    Unless they are cutting serious corners, you’ll have a hard time doing it for $150/sqft. If they actually deliver at that price, I hope it’s not your forever home.
    We just did our ‘forever’ home in that range. All the trades we used were legit, heavily referenced and vetted. In fairness i’m including the basement in that calculation Level of finishing obviously higher on main floor than in the basement. We just finished and i’m exhausted but when i get time i’ll calculate the main v basement splits. We paid the trades directly so i have all the invoices to do so.

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