Usually, it is important to set aside around $100 or $200 dollars per square foot – some specialists even mention a value of $300 or $350 dollars. So, if someone is renovating a 2,000 square-feet home, for example, they can estimate that their renovation cost will be between $200,000 or even $700,000.
Renovation costs vary depending on the project scope, materials, and finishes. For example, a kitchen renovation in Vancouver may range from $15,000 to $50,000 or more, depending on size and customization. We provide detailed estimates to help plan your budget effectively.
Many Vancouverite renovation companies, including ours, offer financing options to make renovations more accessible. Ask us about financing plans to spread the cost of your kitchen, bathroom, or basement renovation over manageable monthly payments.
Absolutely. We provide free, no-obligation estimates for homeowners in Vancouver and surrounding areas. Our estimates detail project costs based on materials, labor, and other factors, ensuring transparency from the start.
Yes, certain renovations, such as accessibility upgrades, energy-efficient improvements, and repairs for rental or business properties, may qualify for tax credits or deductions. For specific eligibility, consult a tax professional or visit the Canada Revenue Agency (CRA) website.
Renovation loans can be a good option if they help you improve your home’s value, energy efficiency, or functionality without straining your finances. They are useful for covering large upfront costs, but it’s important to compare interest rates, repayment terms, and your budget before taking one. Consider government programs or home equity loans for better financing options. Always assess whether the loan aligns with your financial goals.
Renovation loans are generally accessible if you have a good credit score, stable income, and enough home equity (if using a home equity loan). Lenders consider your financial history, debt levels, and the project’s value. Government-backed options may have easier approval requirements. It’s best to compare lenders and loan types to find the right fit for your situation.
Yes, certain renovation costs can be deducted from capital gains when selling a property. Major improvements that increase the property’s value, such as adding a new roof, upgrading kitchens or bathrooms, or building an extension, can be added to the adjusted cost base (ACB), reducing the taxable capital gain. Routine repairs and maintenance, however, are not deductible. Always keep records of renovation expenses and consult a tax professional for specific guidance.
Renovation loans provide funding for home improvements and can be secured (using home equity) or unsecured (based on creditworthiness). Common options include personal loans, home equity loans, and government-backed programs. Borrowers receive a lump sum or line of credit and repay it over time with interest. Approval depends on credit score, income, and loan type. Comparing lenders and loan terms helps find the best option.
Renovations that add the most value include kitchen upgrades, bathroom remodels, finished basements, and energy-efficient improvements. Adding curb appeal, like new siding or landscaping, also increases home value. High-return projects focus on functionality, modern design, and durability.
If your renovation makes your home unlivable, consider staying with family or friends, booking a short-term rental, staying in a hotel, or using an extended-stay accommodation. Some homeowners also rent temporary housing or live in a part of the home that’s not under renovation if possible. Planning ahead helps minimize stress and costs.
