Many residents want to build a custom-built home in Toronto as their life investment. Other Torontonians, though, simply want to have a house fully customized to their needs with the features, finishes, and building materials they desire. But how much does it cost to build a house in Toronto?
In this article, we’re looking at the costs that go into building a custom home, breaking down labour prices, materials, and types of home upgrades. To learn about the cost of building a custom home in Canada’s metropolis, keep reading.
Building a House in Toronto? Consider This
Whatever the reason may be, building a customized house in Toronto means you must first find or have land on which to build a custom home. Ultimately, this means you either have to buy a house for its land value or already own land in which to build on. This is the first step to building a house in Toronto.
Demolish and Rebuild
The grim reality of custom home building cost is that the current average detached home in Toronto currently sits at $1,294,936. Ideally, you are looking for homes that are less than $700,000 to tear down and custom build your own home afterward. The price difference between one house and the house next door is massive in some upper-end areas. So, depending on where you want to build your home, you may have to increase your budget accordingly.
If you choose to purchase an old house, you will need to demolish before the custom home project begins. You’ll also want to have a contracted custom home builder hired ahead of time so that you can easily stay within your budget. Additionally, depending on the floorplan of the existing house that you purchased, you may want to consider preserving the foundation and perhaps part of the frame of the house.
Typically when it comes to budgeting for the teardown of Toronto houses, you’re looking at about $20,000.
What Is Included in the Cost of a Custom Home in Toronto?
Now that you have your land in which to build your home, you are probably wondering as to the custom home cost. When building a custom home, the cost is broken down per square foot. The cost per square foot to build a house in Toronto starts at about $150 per square foot to $250 per square foot. This is according to Ontario construction costs per square foot. Included in these costs are:
- Building permits/ required legal documents
- Architect and designer fees
- Labour and construction costs
- Materials, finishes, and custom upgrades
The municipal costs are usually set and non-negotiable, design and build costs vary depending on the company you hire, the designer you’re working, and the custom interior design elements you want. The building permits and legal fees are standardized.
Custom Home Labour Costs
There are 6 labour stages to consider when looking into the cost of a custom home.
- The natural wear and tear can reduce the quality of the plumbing system in the house.
- Toronto plumbing requirements have changed and evolved so much in the last 20 years.
The most common types of flooring include the following:
- Vinyl and linoleum
Some of these custom home costs might seem overwhelming but the truth is that as long as you have a clear budget from the get-go, there will be no surprises. Take the time to consider your custom home project, outlining the absolute necessities that you must have and the features you can forego for the time being. Also, keep your eye on realty prices in Toronto. The housing market in the city is ever-fluctuating, so try to look for the right moment to pick up the phone and acquire quotes from custom home builders.