Shakespeare Homes and Renovations Inc.

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How Much Does it Cost to Renovate a House in BC in 2022

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Home Renovation Cost 2022

Renovating your home is a fun and exciting project, but do big plans require a big budget? Are there ways to save money, or will you have to adjust things if you discover the cost is higher than anticipated? How much should it cost to renovate a home in 2022?

According to a home renovation poll conducted by the CIBC, 49% of Canadians planned home renovations in 2019 and budgeted an average of $10,211. Among those who completed their renovations, 39% went over budget. Is it because they could not budget correctly? Perhaps that is part of it, but there is also the fact that renovations can sometimes go out of control.

The expected cost can vary a great deal depending on what you choose to renovate and the size of the project. Timing may also be a factor with some materials, such as wood and timber rising in price. As demand grows, the prices may continue their upward trajectory.

What to Renovate?

You may have a number of renovations that you would like to do in your home, but where do you start? We all want our homes to be comfortable and attractive, but which part of your home should be first on your list?

The logical choice may seem to be the room most in need of updating, but if that room is seldom used, you may be best to focus on either those that are most used or those that would add the most value to your property. If you are considering your return on investment (ROI), a bathroom should normally see an ROI of 75% to 100%, whereas adding a skylight may only provide 25% or less.north vancouver home renovations kitchen island image

What Can Influence the cost?

When you calculate the cost to renovate your home, your budget can be affected by a variety of factors including:

  • Age. An older home may include some unpleasant surprises, such as asbestos.
  • Size and Complexity. Larger renovations naturally cost more.
  • Labour Quality. Your choice of contractor can have an effect. A reputable contractor will charge more than a local handyman, who will in turn be more expensive than tackling it as a DIY project.
  • Timeframe. Are you renovating with plans to sell? If you plan to move soon, you may be wise to focus on smaller jobs.
  • Quality of Fixtures/ Finish. Are you going for something simple and basic, or more high-end? Higher-quality parts could have a significant impact on your budget.
  • Other Potential Costs. There will be other fees such as building permits. Will temporary relocation be required? It is also advisable to have an “emergency fund” of about 20 to 25% of the total budget, just to be safe.

How Much Should Your Home Renovation Budget Be?

This will vary of course, based on all the above, but a good rule of thumb is to budget 1% of your home’s value each year for maintenance and improvement. If your home is valued at $500,000, for example, you should try to put $5,000 into a high interest savings account (HISA) each year. This will give you some available cash should you need to fix or renovate something on short notice.

As for actually planning your renovation, here are some ideas of what to expect:

Kitchens

One of the more popular renovations. Generally, homeowners tend to invest about 10 to 15% of their home’s value into renovations for their kitchen, though for those who are planning on staying in their home long term, it may rise to as much as 25%. Given how quickly the expense of cabinets, countertops, and appliances can add up, it is reasonable to expect your kitchen renovation to average $50,000 or more. Take a look at our Kitchen Renovations.

Bathrooms

Another very popular renovation, the cost to renovate a bathroom is quite variable, but expect to budget about 5% of your home’s value, or at least $20,000.

Bathroom Renovation

More Bathroom Renovations

Basement

Renovating your basement can be a great investment for your home, giving you additional living space, a playroom for your kids, a home theatre, or whatever you want or need. You should probably expect a minimum of $10,000, but more ambitious plans can easily bring this to as much as $50,000 or more.

Keep in mind that there are other ways to spruce up your home and make things feel fresh again that needn’t be quite as expensive, such as changing windows, your front door, or even simply painting rooms that see a lot of activity.

 

Thinking of Renovating? Need A Quote on what it will cost to renovate your home? In North or West Vancouver or Burnaby, contact Shakespeare Homes. Use the form below or call us

 

Learn more about Shakespeare Homes Renovations in North Vancouver

We are a Certified & Award Winning Home renovation company!

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Is Winter a Good Time for Home Renovations? Ask a Construction Company North Vancouver

general contractor north vancouver for winter renovationsIf you are considering a home renovation, is winter a good time to do it?

Most renovations occur during the summer, but does that mean winter is a poor choice for having work done on your home? Not at all. In fact, there are some advantages that come with wintertime renovations.

Less Competition

During the summer months, many contractors can become exceptionally busy. You may want to schedule your renovation to coincide with time off from work, holidays, or some other convenient time. Unfortunately, you will be competing with a variety of others with similar ideas. Seeking a contractor in winter means less competition.

While contracting companies will never intentionally take on more work than they can handle, if they find themselves with an extremely challenging schedule, there is the possibility of delays, or work that is done a little too quickly to maintain the necessary level of care and attention. Having work done in winter may result in a more conscientious approach to the work. It might even result in the work being done faster than anticipated since the contractors have fewer projects to work on.

Your contractor may also have more time to spend with you planning and designing your project.

Avoiding the Spring Price Increase

Things may become more expensive in the spring when lumber products, windows, and cabinet lines tend to experience price increases. During the winter, some manufacturers implement special offers to reduce their inventory. You may be able to find close-out prices on appliances and certain materials.

bathroom renovation in BC 44 Indian River After

Interior Renovations

Winter can be a great opportunity to start a renovation or remodelling on the inside of your home. On average, a powder room or small bathroom renovation can be completed in less than four weeks.

Obtaining Permits

A small advantage, but still worth noting, is that government agencies tend to be less busy in winter, which might make it easier and quicker to obtain the necessary permits for your renovation.

Leaving the Old to Return to the New

As mentioned above, some will try to arrange to have work done during their vacation. If you plan to be away for an extended period in the winter, this provides a perfect opportunity to have work done. You will avoid the noise and disruption caused by a significant remodel and return to find your home transformed.

Clean Up

Many homeowners will wait until spring, concerned that dust and fumes will be an issue at a time when they don’t want to leave windows open. This is not really an issue, however, as current technologies and clean-up methods negate these issues. Plastic zip doors, negative pressure fans, and adequately sealing the heat ducts with filters means there’s no need to be concerned about inhaling anything harmful.

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Outside Projects

While some projects are obviously not practical during the winter months, there are some that will benefit from the cold weather. Decks, for example, can be worked on in winter, and working with hard ground instead of mud in the spring can help with your deck’s foundation. Additionally, there is likely to be less damage to grass and other landscaping caused by machinery.

Renovating your home doesn’t need to be put on hold during winter months. As your construction company in North Vancouver, we are happy to help you with all your projects big or small at any time of the year. 

If you are considering a home renovation this winter and would like some more information, give Shakespeare Homes a call today at 604-988-2280 or contact us here for your in-home consultation. This way you can get started on the renovation that will transform your place into the home you’ve always wanted.

Looking for Home Renovation Contractors in North Vancouver?

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Whether you’ve just purchased the fixer-upper of your dreams or your long-loved family home is a little too “vintage” for you and your family’s taste, you are likely looking longingly at the floor, walls, and fixtures, and wondering how they can transform into a home that you can be proud of. It may be time to call a home renovation contractor.  Whatever the state of your humble abode, Shakespeare Homes, your local home renovation contractors in North Vancouver, are here to help! Here’s how we can make your dreams a reality.

We Offer Thorough In-Home Consultations for our North Vancouver Contractors

One of our favourite things to do is make your vision a reality, and we do this by getting into your world. We make great efforts to see through your eyes and work with you to discover what’s possible. We take into consideration budget, time, and materials so that you can rest assured that your project is doable for you and your family.

We want to make your dream home come to life, and we ensure that we are on the same page before any work begins. 

We Take Pride in the Details

You might have the whole renovation figured out. Or you may just have a general idea of how you want things to look. Either way, we don’t just stop at the general overview. We have enough experience to know that the devil is in the details, and that those little things must be attended to before the project even starts, so that there are no (or at least fewer) surprises for you later.

We consider everything, from the material of the doorknob to the type of light switch. With this, we can make sure that you are happy with each little piece as well as the overall look and feel. 

We Have the People

Part of being great at what we do is having contractors that are great at what they do! Our team and network of people is extensive and complete so that no matter what the project is, we “have a guy.”

We are also committed to overseeing the whole project from start to finish so you can have confidence that not only do we know people, we also make sure that they are on track and carrying out your vision the whole way through. 

Team Home Building and Renovations Team. Shakespeare Homes and Renovation

No matter the home renovation project that you have on your mind, we are the home renovation contractors to do it! With over 20 years of experience renovating homes in North Vancouver, you can be confident that we have the know-how and skills required to transform your current abode into the home of your dreams.

Give Shakespeare Homes a call today at 604-988-2280 or contact us here for your in-home consultation so you can get started on the renovation that will transform your place into the home you’ve always wanted.

Learn more about Shakespeare Homes

 

Looking for a Home Renovation Company in North Vancouver?

Custom Home Builders in North Vancouver

Look no further than Shakespeare Homes & Renovations! An award-winning home and renovation company in North Vancouver, we specialize in high-quality home renovations and new home construction on the North Shore and in nearby areas of Vancouver. Our services include custom builds, whole home renovations, adding rooms or entire floors, kitchen renovations, bathroom renovations, decks, built-in furnishings, lighting, residential building maintenance, and repair services. No matter the project or service you desire, read on to find out what we at Shakespeare Homes can offer you.

Responsible sustainability practices with home renovation in North Vancouver homes

With every build, we are committed to lowering our footprint by using natural resources approved by Canada’s Energy Star & Built Green standards and materials. Good for the planet and good for your pocketbook.

Complete project management and site supervision

No matter your vision, our project managers are dedicated to making a challenging process easier by handling even the smallest of details, leaving you with peace of mind and nothing to worry about. With our experienced on-site supervisors, we also follow the project from start to finish so that you don’t have to.

Design, budgeting, planning, and construction consultation

At Shakespeare Homes, we are proud to offer one-on-one consultations with an experienced home construction expert, allowing you to ask bounce ideas, ask questions, and voice concerns in advance of any demolition or construction. By taking you through each aspect of your project, we can work with you to determine the scope of the work, match it to your budget, and plan the details of how to move through to completion.

Permit and approval process

Because these processes can be a significant source of frustration, we take care of permitting and approvals so that you don’t have to. With us, you can trust that we have jumped through all the legal hoops necessary for your project to be aboveboard.

Structural framing, finishing carpentry, and all specialty trades

In keeping with our commitment to make things easier for you, we deal with all the framing, carpentry, and trades such as electrical, plumbing, landscaping, and painting. We hire only the best of the best and manage everyone and everything for you.

Materials acquisition and supplier negotiations

We’ve been in the business for a long time, so we know of the best and most affordable suppliers for all the materials needed for your project. And because we order from these suppliers all the time, you will benefit from the best prices on the market.

So, whether you’re in the market for a whole home build, renovation, or just require some building maintenance or repair services, Shakespeare Homes is the home renovation company in North Vancouver to call. Contact us today for your one-on-one consultation and discover how we will go above and beyond to meet your home renovation or maintenance needs.

Learn more about Shakespeare Homes

Speak to Shakespeare Homes for more details.

 

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106-173 Forester St.,
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North Vancouver, BC V7H 0A6
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Shakespeare Homes & Renovations provide full range of high quality construction and renovation services in North & West Vancouver.