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How Much Will It Cost?

How Much Will It Cost?

 

We get asked this question a lot. Like, a LOT!

 

Many times, prospective clients reach out to us wanting to know the cost of a proposed project. Some are home renovations and others are commercial renovations. Some provide us with detailed information including any required drawings; others provide a detailed breakdown of the scope of work they want done when drawings aren’t required. We jump on these without losing a moment to provide equally detailed and thorough cost estimates and quotes.

 

Every now then, however, we get inquiries that offer little or no information, requesting they just want a “budget” or “ballpark” cost estimate. Asking for a “ballpark” figure without providing any information on what the proposed project is about is like asking “how much does a bag of groceries cost?” Are we talking about a bag of lentils, some canned fruit, a box of crakers, and a bottle of mineral water? Or are we talking about 2lbs of AAA Ribeye steak, some Caviar, and a pound or 2 of Jersey Blue brie cheese? Or somewhere in between?

 

The point is, without some basic information offered by a prospectice client, it is irresponsible on the part of any contractor to try to provide any cost information. At the very least, with some amount of information about the proposed project offered, a range of probable costs could be arrived at as a “budget” or “ballpark” cost estimate. The more information available, the higher the degree of reliability of probable cost.

 

Many prospective projects can also be reliably budgeted using historical costs, provided there is an adequate degree of scope similarity between the historical project and proposed projects, to reliably extrapolate costs from for the proposed project. There are some limitations here also, however.

 

 

So, lets talk money.

 

How much does a Kitchen Renovation cost in Metro Vancouver?

 

Before providing a range of probable costs, it is interesting to note that according to the Appraisal Institute of Canada, kitchen renovations have the highest Return on Investments when it comes to home renovations. As a general guideline, the National Bank of Canada recommends a kitchen renovation must not exceed 15% of the total property value to ensure you get a reasonable return on your renovation investment. This 15% cap ensures you can get between 75% – 100% return on investment on your kitchen renovation if you ever wish to sell you property.

Kitchen renovationsKitchen Renovation cost in Metro Vancouver

As a cost guide, current market pricing for a kitchen renovation cost in metro Vancouver can range anywhere from a $3,000 DIY job, up to a whopping $100,000. All depending on several variables involved of course – floor area, designer, permits, demolition, framing, floor finishes, wall finishes, plumbing fixtures, millwork, countertops, lighting fixtures, appliances, etc.

kitchen renovationsKitchen Renovation cost in Metro Vancouver

This is indeed a very wide spread of numbers. To break it down, our market intelligence indicates the following guide in cost per square foot for kitchen renovations as follows:

DescriptionSizeCost Range
Small sized kitchen renovation cost in metro VancouverUp to 70 Sq. Ft floor area$3,000 DIY – $16,000
Medium sized kitchen renovation cost in metro Vancouver100 Sq. Ft – 150 Sq. Ft floor area$21,000 – $43,000
Large sized kitchen renovation cost in metro Vancouver200 Sq. Ft – 250 Sq. Ft floor area$49,000 – $83,000

These costs per square foot for kitchen renovations in metro Vancouver also depend on the type of kitchen involved – one wall with island, galley, L-shaped, or U-shaped, as well as the scope of work and materials/products involved.

 bathroom renovationskitchen renovation bathroom renovations

Keep in mind however that not all square feet are created equal, and the above numbers are just a guide.

 

**Give Us A Call To Know What Your Kitchen Renovation Project Will Cost**

 

 

How much does a Bathroom Renovation cost in Metro Vancouver?

 

According to the Appraisal Institute of Canada also, bathroom renovations have the second highest Return on Investments after kitchen renovations. The National Bank of Canada puts the value of a bathroom at between 5% to 10% of the total property value, and recommends any bathroom renovation not to exceed 10% of the property value to ensure a recoverable value of between 75% to 100% on your bathroom renovation.

bathroom renovations

As a cost guide, current market pricing for a bathroom renovation cost in metro Vancouver can also range anywhere from a $3,000 DIY job, up to a $100,000. All depending on several variables involved also – floor area, designer, permits, demolition, framing, floor finishes, wall finishes, plumbing fixtures, millwork, countertops, lighting fixtures, appliances, etc.

bathroom renovation

This is also a very big spread of numbers. To break it down, our market intelligence indicates the following guide in cost per square foot for bathroom renovations as follows:

DescriptionSizeCost Range
Standard sized bathroom renovation cost in metro VancouverUp to 70 Sq. Ft floor area$3,000 DIY – $30,000
Medium sized bathroom renovation cost in metro Vancouver100 Sq. Ft – 150 Sq. Ft floor area$30,000 – $56,000
Large sized bathroom renovation cost in metro Vancouver200 Sq. Ft – 250 Sq. Ft floor area$54,000 – $89,000

The above costs per square foot for bathroom renovations in metro Vancouver all depend on the scope of work and materials/products involved.

bathroom renovationsbathroom renovationsbathroom renovations

 

Keep in mind however that not all square feet are created equal, and the above numbers are just a guide.

 

**Give Us A Call To Know What Your Bathroom Renovation Project Will Cost**

 

Return on Investments in Home Renovations

Return on Investments in Home Renovations

How much does a Commercial Renovation or Tenant Improvement cost in Metro Vancouver?

 

Commercial renovations or tenant improvements are an entirely different, very specialized, and highly regulated type of property renovations. Commercial renovations or tenant improvements are done to a broad range of commercial property uses such as office workspaces, medical and dental clinics, retail stores, commercial washrooms, hotel and office tower common spaces, cafés, bars & restaurants, beauty salons & spas, fitness & physiotherapy centres.

 

Like home renovations, there are a wide range of renovations and improvements that can be done to commercial spaces. For budgeting purposes however, we will only consider complete build-outs from a shell condition.

 

Tenant Improvement Type      Description    Cost Range Per SQ.FT
Physiotherapy and fitness centersOpen space concept, with partitioned private office(s) and private rooms$80/Sq. Ft – $240/Sq. Ft
Office or workspaceOpen space concept and/or partitioned offices$80/Sq. Ft – $280/Sq. Ft
Retail storeOpen space concept with office and storage room(s)$85/Sq. Ft – $380/Sq. Ft
Medical and dental clinicsSecond highest TI cost per square foot mostly due to specialized medical and dental equipment’s,

as well as the required mechanical, electrical, and plumbing work

$115/Sq. Ft – $385/Sq. Ft
Cafes, bars, restaurantsMost expensive tenant improvements due to the amount of mechanical, electrical, and plumbing work.

They can also have some of the most elaborate and expensive interior finishes

$160/Sq. Ft – $550/Sq. Ft

 

These costs per square foot for tenant improvements in metro Vancouver are based on a complete build-out from shell condition with some basic services already installed by the landlord. Design services, engineering, building permit, and trades permits costs are included.

 

Keep in mind however that not all square feet are created equal, and the above numbers are just a guide.

 

**Give Us A Call To Know What Your Tenant Improvement Or Commercial Renovation Project Will Cost**

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We'd love to learn more about your project and discuss our role as your preferred home renovation, tenant improvement, and commercial interior contractor. We serve in Vancouver, North Vancouver, West Vancouver, Richmond, Delta, Burnaby, New Westminster, Port Moody, Coquitlam, and Port Coquitlam.

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