We have an older house in Toronto which requires important renos and one option we're exploring is a full tear-down and complete rebuild from scratch. We have seen this new property (link below) which sits in a similar neighbourhood and on a similar lot that we have, we want to know what kind of budget would be required for such a project, same finishes, same square footage, etc.
We would like to have a idea for the full project, from plans to key in hand, fees, taxes and everything in between. What will our investment be?
Good question that has a number of answers but having said that.. Here is where I would start having done a few of these..
What are my intentions Family Home ? Resale ?
If resale - what is selling in your area and for how much on average..from there.. work backwards based on what you plan to make then you can do the math..
Depending on your existing foot print - state of the structural foundation - and your design criteria you or a good builder can assist in the decision making process.
I have build similar look like this one in East York. Currently we are in planning stage with similar look clean cut style but lot can change the price.
Main factors are like deck open on upper floor, glass railing, heated flooring, wall hung toilets, features like smart home, smart appliances (one can start laundry or oven by your smart phone) kitchen with water fall island, electrical wiring etc.
Plan and build Energy efficient HOME because the hydro and gas price are going to shoot up so if you are building New home for your self better plan it from now. Your heating and electrical bill is reduced by 80%.
Regular house with quartz top, European style kitchen and vanities ( in your link picture its all IKEA material) so rest is all balanced.
You can start your budget right from 250 sft to 350 sft. + soft cost like planning, etc can be on top.
Cost to build a home vary from $250 per square foot on the cheapest end to $350 / sq. ft. or even more for custom top notch work. Accurate estimated can be provided only after analyzing architectural drawings with all technical details, calculating number of man-hours for completing the project and determining the total expenses for materials, fixtures and finishing products.
Thank you very much for your input, we are still getting a grasp on the scope of such projects. We will certainly be stuying our options further.
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