How Much Will It Cost to Gut Your Markham Home and Renovate It?

You’ve finally found the perfect house – at least on the outside. Inside, the home is a mishmash of questionable style choices and outdated plumbing, wiring, and fixtures. When the inside doesn’t match the outside, a whole-home renovation makes sense. Gutting your Markham home gives you the flexibility to create a design that truly reflects your taste and preferences. However, the common question arises of how much will a gut renovation in Markham cost?

What’s the Average Cost to Gut and Remodel a Home in Markham?

The amount you’ll pay for a gut and whole-home renovation could range from $400,000 to $700,000 or more. Your cost will depend on several factors including:

Square Footage Factor on Gut Remodel Costs

The bigger the home, the higher the cost. Large homes require more flooring, paint, shingles, siding, drywall, cabinetry, tiles, wiring, fixtures, and other products than small houses. Labour costs are also higher when renovating large homes. It takes more person-hours to rebuild a large kitchen than a small one, install flooring or wire your new space.

Home Design Influencing Cost

Complicated designs and unusual floor plans will increase the complexity of the remodel and the gut renovation cost. Do you plan to relocate your kitchen to the other side of the house? Moving plumbing lines and rewiring the new location to handle the appliances will take more time and money than overhauling your kitchen in its current location.

Of course, our design-build team will gladly help you create any design or floor plan you want. In fact, we love creative challenges. Want to add an elevator to your home, turn the basement into the ultimate game room, expand your kitchen, and create a grand entrance? There’s no limit to what you can do with a whole-home renovation.

Your Markham Home’s Current Condition

There’s no telling what we will discover when we start tearing down walls during the first phase of your renovation. Dry rot, termite damage, undetected plumbing leaks, unsafe wires, foundation issues, and other problems can significantly increase the cost of your Markham renovation. Although you’ll spend a little more if we uncover some problems, the repairs we make will ensure that your renovated home is safe and secure.

Cost For Kitchen and Bathroom Gut Renovation Near Markham

Renovating your kitchen and bathrooms will account for a significant percentage of your budget. HomeStars reports that Canadians spend an average of $30,000 on kitchen renovations. That figure is for a basic renovation that doesn’t involve gutting the kitchen or expanding its size. An extensive kitchen renovation could cost $75,000 to $200,000 or more.

Bathrooms can be just as pricey to gut and renovate. If you choose high-end appliances and products, like wine chillers, soaking tubs, steam showers, and heated floors, you’ll pay more for the kitchen/bathroom portion of your renovation.

How Does Quality Affect Price of Your Renovation?

You may notice a substantial difference in cost if you use basic fixtures, finishes, trim, and appliances versus high-end products. Although you may save some money initially, higher-quality products generally last longer and are more attractive than less expensive products.

Addition Renovations Price in Markham

Will your renovation include an addition? If your bedrooms, kitchen, entertaining space, or garage is too small, including an addition in your renovation plans is an excellent idea. When we explored the cost of home additions recently, we noted that a 500-square-foot, fully finished addition built on a foundation or slab ranges from $216,000 to $240,000. Depending on the complexity, Markham's addition costs range from $240 to $480 per square foot.

Current Building and Labour Costs

Building product costs have fluctuated wildly in the last few years. Shortages have caused prices to increase, and supply chain issues cause delays in products, some taking months to arrive, which can be bad news for homeowners. However, if you start your project sooner rather than later will help achieve a renovation completion when you would like. Unfortunately, you never know when prices will dip or soar in the future. If you’re lucky, you’ll start your renovation when building product prices are fairly low and supply problems aren’t an issue.

You’ll also need to consider the cost of labour when contemplating a whole-home renovation. If your renovation will require the services of highly skilled craftsmen or require intricate work that takes a long time to complete, you’ll see a bump in your renovation costs.

Other Cost Factors For A Markham Gut Renovation

Other factors that influence whole-home costs in Markham include permits and land preparation. If you’ll be adding on to your home, you’ll need to budget a little extra to clear and level the land. You’ll also need to consider landscaping costs to replace or add sod, shrubs, flowers, and trees. A new driveway, a huge deck, a guest house, or a brand-new swimming pool in the backyard (or in the house, if you prefer) will also increase the final price tag of your renovation.

Are you ready to reimagine your Markham home? With a gut-and-whole-home renovation, your home will feel and look brand new. Just imagine preparing meals in your updated, spacious kitchen or enjoying the view outside your walls through the floor-to-ceiling windows in your newly renovated two-storey family room. Contact us and let us know what you have in mind for your whole-home remodel.