Toronto Condo Renovation Cost Guide for Homeowners
Condo renovations are becoming an increasingly popular trend among Toronto property owners looking to update and modernise their living spaces. As one of Canada's most bustling cities, Toronto attracts residents from all walks of life - making condo ownership an attractive investment option for many. However, most Toronto condos are ageing and many new condo owners are eager to put their personal touch on their property with strategic renovations.
Why Condo Renovations in Toronto Are So Popular
There are a few key reasons Toronto condo owners invest time and money into condo renovation projects:
- Enhance livability - Older buildings often have outdated layouts and finishes that owners update to better meet their lifestyle needs. According to one survey, over 75% of owners chose to renovate their condo in order to "improve livability and functionality."
- Increase resale value - With Toronto's competitive housing market, renovated condos can sell for 20% higher than dated units in the same complex. Remodelling is a wise investment for those looking to sell their property in the near future.
- Personalization - Cookie cutter condos often feature builder-grade finishes. Renovations allow owners to customise their space with on-trend touches that reflect their unique style.
Popular Condo Renovation Projects
The sky is truly the limit when it comes to condo renovations in Toronto. Some of the most popular upgrade and remodel projects include:
- Kitchen Remodels
- Bathroom Remodels
- Flooring Upgrades
- Paint/Lighting Refreshes
- Storage Solutions
In the next section, we will take a data-driven look at average costs associated with renovation costs in Toronto.
Average Condo Renovation Cost in Toronto
Condo renovation costs can vary greatly depending on the size of the space, type of upgrades selected, level of customization, and more. However, it is possible to identify average spend among condo owners in Toronto's market.
Key Statistical Averages
When estimating your average condo renovation cost and budget, the following statistics are helpful benchmarks:
- Average size of a Toronto condo: 700 square feet
- Average cost per square foot: $15-$32
- Average spend for 700 sq ft condo: $34,720-$49,000
This means the bulk of condo renovation projects range average price from $35,000 to $50,000 for what is considered an average sized unit in Toronto.
Of course, individual projects may skew higher or lower than these averages, depending on many factors explored throughout this article. But these numbers offer an approximate baseline to guide budgeting.
Average Condo Renovation Cost
Average size of a Toronto condo
700 square feet
Average cost per square foot
|$15 - $32
Average spend for 700 sq ft condo
|$34,720 - $49,000
Overall average price range
|$35,000 - $50,000
Cost Impacts of Condo Size
One key factor impacting the overall price of a renovation project is the overall cost and size of the condo itself. This is because certain fixed costs exist no matter how big or small the unit may be.
As a general rule of thumb:
- Smaller units = higher price per square foot
- Larger units = lower price per square foot
For example, a modest 500 square foot bachelor condo renovation could run $40 per square foot.
But a 1500 square foot 2-bedroom unit with similar finishes might only cost $25 per square foot.
This economy of scale makes intuitive sense - broader projects allow contractors to spread fixed overhead expenses across a larger area.
Next we will explore specific types of renovations and associated costs.
Factors That Impact Condo Renovation Costs
Many variables influence the overall budget for renovating a Toronto condo. Review the factors below as you map out plans and get quotes for your upcoming project.
Type of Renovation
The scale and complexity of the updates you have in mind directly contribute to project costs. For example:
- A full condo gut renovation will be more expensive than installing new flooring
- Kitchen and bathroom overhauls cost more per square foot than simple paint and lighting refreshes
Use the metrics below as approximate guidelines for budgeting each type of renovation:
- Cost per square foot: $15-$30
- Total budget for 150 sq ft galley kitchen: $2,250-$4,500
- Cost per square foot: $25-$60
- Total budget for 50 sq ft bathroom: $1,250-$3,000
- Cost per square foot: $3-$15
- Total budget for 700 sq ft condo: $2,100-$10,500
- Cost per square foot: $1-$3
- Total budget for 700 sq ft condo: $700-$2,100
And so forth. Add estimated costs for each project type together to derive your master budget.
Choice of Finishes
Opting for luxury-level finishes will raise renovation costs higher than mid-range or budget materials. This differential applies to aspects like:
- Countertops: granite vs. quartz vs. laminate
- Appliances: Sub-Zero vs. Samsung vs. Frigidaire
- Lighting: designer brands vs. box store packs
- Flooring: hardwood vs. LVT vs. carpet
If your priority is to renovate on a budget, resist selecting high-end finishes whenever possible.
Ways to Reduce Your Condo Renovation Costs
If you have champagne tastes on a beer budget, there are ways to complete renovations at a lower price point. Consider these tips to make cuts where possible:
Take a Phased Approach
Gutting and overhauling an entire condo at once amps up both disruption and cost. If funds are limited, focus on renovating one space at a time, beginning with high-impact rooms like kitchens and baths. Updating these areas will still significantly influence your condo's resale value in the near future.
DIY Smaller Projects
While complex renovations like moving walls or electrical wiring require qualified professionals, you can likely handle painting, lighting swaps, remodelling and storage solutions yourself. This saves on the labour costs associated with hiring electricians, contractors and carpenters. Exercise caution to avoid safety or permit issues.
Seek Contractor Quotes
Research material costs online so you know approximate pricing in advance. Then connect with 2-3 reputable contractors and request free quotes on the full cost of condo renovation and project scope. Compare bids and vet references carefully before selecting your builder.
Use Budget-Friendly Materials
Finish selections account for a massive chunk of overall budget. Opt for mid-range options instead of luxury fixtures whenever possible. For example, expect to pay $125 per square foot for high-end custom fabricated kitchens with luxury appliances. Choosing affordable ready-to-assemble cabinets and standard appliance packages can reduce project cost to $65 per square foot.
Utilise Turnkey Services
For worry-free condo renovation with maximum cost savings, consider utilising our partners for turnkey design-build services. These qualified professionals specialise in condo renovation projects and provide:
- Discounted rates on all materials
- End-to-end project management
- Personal concierge service to interface with condo boards
- Custom renovation packages to fit every budget
By leveraging our buying power and connections, we've negotiated rates up to 30% below retail pricing on everything from fixtures to finishes. This adds up to incredible savings. An account manager will walk you through all steps of the process - from ideation and budget-setting to material selection and contractor coordination. Leave the heavy lifting to the experts!
Gaining condo board approval can be headache-inducing. But our concierge service streamlines communications and takes care of logistics like permits, insurance coverage minimums, and security deposits on your behalf. Focus on the fun parts instead!
Contact us today for a free quote on your upcoming condo renovation project. Our partners help translate dreams into reality while maximising value.
Follow these guidelines to complete impactful renovations even if cash flow is limited. Protect your investment property while staying on budget.
Key Considerations For Specific Renovation Types
When budgeting a Toronto condo renovation, it helps to break costs down by project type. Here is an overview of key considerations and cost breakdown and average pricing for some of the most popular renovations:
Bathroom Renovation Cost
Bathroom remodels require significant plumbing and electrical work, which impacts cost. When renovating the bathroom in your Toronto condo unit, factor in expenses like:
- Demolition of old fixtures/walls ($300-$800)
- New waterproof exterior walls ($15-$32 per square foot)
- Plumbing - sinks, toilets, bath/shower ($2,500-$4,000)
- Tile, cabinets, lighting, mirrors, other finishes ($8,000-$15,000)
- Permits fees ($150 average)
In total, a bathroom renovation cost may range from $3,500 for a 25 square foot powder room to $15,000+ for a spacious master suite overhaul.
Cost Breakdown for Condo Bathroom Renovation
Demolition of old fixtures/walls
$300 - $800
New waterproof exterior walls
$15 - $32 per square foot
Plumbing (sinks, toilets, bath/shower)
$2,500 - $4,000
Tile, cabinets, lighting, mirrors, other fineshes
$8,000 - $15,000
Total Cost Range for 25 sq ft Powder Room
Total Cost Range for Spacious Master Suite Overhaul
Kitchen Renovation Cost
Kitchen remodels are a top priority for Toronto condo owners seeking to boost livability and resale potential. Prices vary based on size, layout, and customization.
A galley kitchen renovation costs $15,000 in a 500 square foot bachelor unit with mid-range finishes.
But a chef-grade overhaul on a 750 square foot open concept kitchen could approach $60,000. This accounts for higher quality cabinets, luxury appliances, large islands, and more.
Get quotes outlining cost breakdowns before setting your kitchen renovation budget.
Cost of Condo Kitchen Renovation
Galley kitchen in 500 sq ft unit
Chef-grade kitchen in 750 sq ft unit
Seeking a more open concept layout? Moving walls and other structural changes allow for improved flow. But keep in mind:
- Wall demo/reframing ($5,000+ per wall)
- Updated electrical wiring ($2,500 average)
- New HVAC adjustments ($1,500+)
While structural changes create beautiful living spaces, they require major investments from a building and budget perspective.
Smart Home Technology
Looking to enhance function and flair with integrated home tech? Expect to pay $3,500+ for robust smart home systems including lighting, security, audiovisual and other components. Basic entry-level kits may cost as little as $500. But most Toronto condo owners investing in a larger scale remodel elect to incorporate higher end options.
Quality Materials To Elevate Your Condo
As you budget your upcoming condo renovation in Toronto, do not underestimate the impact of finish selections. The right materials can elevate your outdated condo into a contemporary showpiece.
Our hand-picked product collections include everything from stylish lighting to multipurpose cabinets to convert existing layouts into functional living spaces.
Key Categories for Condo Renovation Cost
When browsing our Easy Renovation Store, you'll discover a range of products specifically curated for condo renovations. Our selections are designed to enhance both the functionality and aesthetic appeal of your condo space, regardless of its size. Here are some of the key categories you can explore:
- Space-Saving Storage Solutions: Maximising every inch of your condo is crucial, and our storage solutions are designed to do just that. From sleek, built-in options to modular designs, our storage solutions cater to both large and small condo units, ensuring that you make the most of your available space.
- Sleek Fixtures for Modern Living: Update your condo with our range of modern lighting, plumbing, and hardware fixtures. Each item in our collection, from stylish faucets to contemporary lighting options, is chosen to complement the urban lifestyle, perfect for downtown high-rise living spaces.
- Flexible Cabinetry Options: Renovate your kitchen or bathroom with our flexible cabinetry options. Our modular cabinet components are customizable to fit your specific floor plan. Features like built-in lighting and charging stations add a high-tech edge to your space, making it not only stylish but also functional.
- Condo Essentials: Our Condo Essentials collection is specially tailored for condo living. These materials and products are selected to maximise the efficiency and style of multifamily spaces, ensuring that every renovation project meets the unique needs of condo living.
At Easy Renovation Store, we understand the challenges and opportunities that come with renovating a condo. Our products are designed to help Toronto condo owners transform their spaces into world-class interiors, no matter the square footage. With our offerings, you can create a living space that perfectly suits the bustling city life and modern urban lifestyles.
Common Questions About Toronto Condo Renovation Cost
What to Consider When Renovating a Condo?
- Condo Association Rules: Before starting, check your condo association's rules. They may have specific guidelines or restrictions on renovations, such as approved work hours, types of materials, or noise levels.
- Space Utilisation: Condos often have limited space, so consider how to maximise it. Think about multifunctional furniture, built-in storage, and open floor plans.
- Plumbing and Electrical Systems: Understand the existing plumbing and electrical systems. Major changes might require approval and professional assistance.
- Aesthetic Consistency: Consider the overall aesthetic of the building. Your renovations should align with the exterior and common areas of the condo.
- Resale Value: Consider how your renovations will affect the resale value. Neutral, timeless designs often appeal to a broader market.
How Much Does It Cost to Renovate a Condo in Canada?
The cost to renovate a condo in Canada can vary widely based on factors like location, the extent of the renovations, and the quality of materials. On average, condo renovations can cost anywhere from CAD $30,000 to over CAD $100,000. It's important to note that costs in major cities like Toronto or Vancouver may be higher compared to smaller towns. For accurate estimates, it's best to consult with local contractors or renovation experts.
How Do You Update a Condo on a Budget?
- Paint: A fresh coat of paint can dramatically change the look of your condo without a high cost.
- Update Fixtures: Replacing old light fixtures, door handles, and cabinet knobs can modernise your space affordably.
- Refurbish Instead of Replace: Refurbishing existing items like cabinets or furniture can save money compared to buying new.
- DIY Projects: Tackle simple DIY projects like installing a new backsplash or floating shelves.
- Shop Sales and Discounts: Look for sales or gently used items to save on materials and furnishings.
How Much Does a Renovation Cost per Square Foot in Canada?
In Canada, renovation costs per square foot can range from CAD $20 to $200 or more, depending on the renovation's complexity and quality of materials. For basic renovations, expect lower costs, while high-end remodels with luxury materials will be at the higher end of this range.