Most homeowners prefer to do brief or complete pricing research for home extension projects before contacting a home addition company in Toronto. In this guide, we will outline the average home addition cost in Toronto and also show you the factors that will affect the overall price of your extension project.
Important Note for Home Addition Cost in Toronto
The following home addition costs reflect the current market trends and are meant to be used as a simple guide at the time of the publication.
Since there are volatility and supply chain fluctuations in Toronto’s real estate industry, home addition project prices have increased by 10% to 15% over the past year.
The best way to estimate the cost of a home addition in Toronto is to contact a home building contractor for a custom quote.
Contacting a professional home extension company will give you the advantage of precise budget planning equivalent to your project’s size, scope, and type of home addition. Additionally, expert builders have the up-to-date information to provide you with home addition costs in detail.
Home Extension Cost Per Square Foot in Toronto, Ontario
Home addition cost per square foot in Toronto varies depending on the factors we will show you in this guide.
But, generally, a new home extension cost may range between $400 and $500 per square footage. This means that suppose you are planning to add a simple and budget-friendly addition of a small room of 20×30 feet or 600 square feet; your home renovation project will cost around $240,000-$300,000.
On the other hand, if you want to add about 2,000 square-foot second-story addition in Toronto, your project will cost around $800,000-$1,000,000.
It can be difficult to gauge the exact cost per square foot for home additions, especially when homeowners need to extend their houses with more minor extensions.
Smaller home additions generally cost more per square footage. For example, a high-quality addition of about 200 sq. ft. might cost around $150,000 in Toronto.
It is also important to remember that Toronto’s housing market appreciates year over year, so renovation and home addition cost also increase over time. (The increasing trend is around 5%-10% per year.)
Factors and Variables That Affect the Cost of a Toronto Home Additions Project
Here you can see nine essential factors that affect your home addition project’s cost in Toronto.
1: Type of Home Addition
There are different types of home additions in Toronto, and each has unique features that affect the project’s overall cost. For example, you can expect to pay less for a garage addition than a family room. At the same time, family room extensions are less expensive than a kitchen, and a kitchen is also less costly than a complete second-story addition.
2: Location of Your Project
Another factor that can significantly affect your home addition project’s cost is the location of your addition in relation to your home structure.
While architectural elements can affect the price of your addition, it is a fact that first-floor extensions are less expensive than a complete second-floor addition.
Note: It is essential to remember that even first-floor home additions must comply with zoning restrictions and building regulations.
3: Complexity and Uniqueness of the Extension
If you want a simple and standard design for your home addition, you can expect to pay less than a custom-designed space that features architectural complexities and has never been done before.
Since building a custom home addition can take a lot of time and requires a complete design process, the costs for designers and builders are expected to increase. But, it is good to know that custom home additions are the perfect investment as they add significant value to your property and increase the probability of finding buyers in the future.
4: Type of Your Existing Home Construction
Since extensions impact your home’s structure, specific construction procedures are easier to complete and will seamlessly match the other types.
For example, adding onto a wood-framed structure is more straightforward than building a double-wythe brick house which can take a lot of energy and time. Additionally, when you choose wood-framed additions, the siding you will have to use will also impact the complexity of your project.
So, it is crucial to be precise when considering your budget and ensure that it will match your preferences in terms of materials and addition type.
5: Ceiling Height Also Affects Home Addition Cost
As you now know, the square footage of your addition project is one of the biggest factors that will affect the price of a home addition in Toronto.
Similar to the overall square footage of your extension project, your addition’s interior volume plays a massive cost role. Meaning that the taller your ceiling height, the more expensive your home extension will be.
6: Luxury and High-End Finishes
Another factor that many homeowners neglect when considering starting a house addition project is the type of finishes they select.
Obviously, if you choose high-end and luxury finishes for your house extension project, you can expect to pay more. For example, a ceramic or mosaic designer floor tile might cost more than $30 per square foot. On the other hand, old reclaimed walnut or hardwood flooring can cost you around $10-$15 per square foot.
It is also important to mention that we did not include the installation cost. So, for custom luxury finishes, it can take a longer time for quality installation, which will increase the overall cost of your project.
7: Property Access
When you want to start a home renovation or addition in Toronto, you must see the situation from your contractor’s perspective. What do we mean by this?
When you contact a building contractor for your construction consultation, the first question they will ask will be: Where do you live? Or Where is the location of the home addition you want to start?
So, this means that the location of your home is another price point factor.
Suppose your home is easy to access and is closer to your contractor, and the materials and tools are easy to transport to your location. In that case, the cost will be lower than a house located in a more distant and less accessible area.
Workspace on your property is another logistical factor that you may want to consider. For example, does your backyard have enough space to stage the required materials, machinery, and bins for your project? So, always discuss such questions with your home extension builder or contractor to ensure they will provide you with the most accurate home addition cost estimate possible.
8: Cost for Home Addition Permits
When beginning a home addition project, you or your contractor will have to get the formal plans and specialist signatures to ensure your project will accommodate all local regulations.
Regardless of the type of extension you plan, you will have to formalize some documentation.
Generally, the average cost for a home addition project’s permits in Toronto will cost $200.
However, plan costs mostly depend on the complexity of your project, which can run anywhere around $2,000-$4,000 or more.
You need to budget 10-20% of your home addition cost to cover costs for hiring architects if you want to create a custom home with extraordinary features.
You can find specific permit information for Toronto here.
9: Change Orders
Change orders are a home addition cost factor that is entirely within your control. But what are change orders?
Change orders are any changes to the work stipulated in your home addition contract, whether that is something you want to add, omit, or substitute.
Generally, change orders can increase home addition cost and will definitely extend your project’s timeline.
Avoid Risks and Play Safe
It is always important to be smart and play safe by adding a contingency line time to your budget for unexpected circumstances.
Different contractors and builders in Toronto can make various recommendations, but in general, we recommend you add about 10%-20% to your budget to cover any changes or repairs that can happen during the construction process and affect the home addition’s cost.
When you have an extra margin for your project, and everything goes according to the plan, you will pocket an additional 10%-20% after completing your home addition.
Again, it would be best to consult with a construction contractor for more accurate planning and estimation.
Build Up or Add Home Extension? Which is Cheaper?
Now you know that much of the decision to add different types of homes additions comes down to specific factors and needs. Consider zoning and legal issues, type of property, home addition cost, the time involved, and the value increase to your home. However, it will be cheaper to build up a new home than add an extension, but only your specific preferences and circumstances will dictate which option is more suitable for you.