We're about halfway through 2022 and the housing market has changed. Have you noticed that for sale signs are hanging, even weeks after the home has been listed? Did the prices for houses you're watching online drop their sale price? Over the past couple years, prices have been at an all time high and many people have been purchasing homes in bidding wars in and around the GTA. This has come to a halt as Summer has rolled in.
The biggest shift our industry has noticed is that custom home interest has dwindled, but the demand for renovations and additions have sky rocketed. Many people are choosing to stay in their current home but update the interiors and exteriors, or increase their square footage by building an addition.
Our most recent estimate for both services starts at $150+/sq ft for a renovation and $300+/sq. ft. for an addition. We recommend booking a consultation to discuss your project and get a personalized quote.
Most popular renovation & addition services in 2022:
- Full home renovations
- Basement renovations, conversions into basement apartments
- Carriage home additions
Renovations and additions can help you stay on budget but get exactly what you want out of your home. This faster construction process requires less materials and depends less on trades, making it more reliable and affordable in the current market.