cost of gutting and renovating a house

It all comes down to how high of a finishing you want.

Complete gut out

Getting a general contractor to tackle this probably $200k +

Tackling this on yourself $100-150k

My house took 6 months.

Cheers !

A demo crew could have the interior down to the studs in 3-4 days. My guess $20k

Exterior looks like a new siding, window, and door job, plus a new roof, deck, and patio. My guess $100k

The interior on a gutted home....I'd say at least $200k

Be happy if you could get this done for under $350k

Good luck getting it at that price. It's purposely set low to garner attention and there will be a bidding war. Will probably go for >>$1M.

$400-500k

A relative did this in Victoria BC a couple of years ago. They hadn't intended to do quite that much of a reno on their 1970s house, but that's pretty much how it ended up. The house looks new, inside and out, with updated kitchen, ensuite bathroom and walk-in closet added to the master bedroom (sacrificing one bedroom), many rooms gutted to the frame (including some outside walls that were iffy), new 2-car detached garage added with an overhead walkway to a garage-roof deck, some landscaping, updated electrical service and oil heat converted to gas.

Total time: about 18 months, including 6 months out of the house. Total cost: $500K +

Yeah, it's not going to sell for $700K, more like $8-900 before renos. That area is "upper beaches" where renovated places sell for 1.2-1.3M.

Depending on finishes, you're easily looking at $250-300K. The basement looks quite low, so lowering the basement and underpinning will add quite a bit more to the overall cost.

Every cent you have

And then some

The fact that you had to ask this question shows that you shouldn't be getting involved in something like this.

exrcoupe wrote: ↑ That area is "upper beaches" where renovated places sell for 1.2-1.3M.

I called that area "Nosebleed Beaches".

As to the OP's question, the low end would be $250K, with basic finishes. That's assuming that there are no structural issues.

I know the area in that listing, and I'd definitely factor in having the sewer and water supply replaced, to the property line, if it hadn't already been done. Huge swathes of the east end's infrastructure from the era when that house was built (1910-1950) have been largely ignored. Doing the water/sewage now would be less disruptive than 5-10 years out when the City engineers deems it necessary. Not as sexy as $10,000 granite countertops, but wise.

Costing me over 400k to redo 2500sqft.

Depends on finishes and how much you're changing.

Example being structural changes would add a cost for the steel beams, the structural work etc...

To ballpark it though including soft costs such as architect/permits/designer maybe you're looking at 250/sq foot.

When people say structural issues most people think of the foundation/posts/beams but you can find structural issues in something as simple and overlooked as a window/door header. Replacing all of your window/door headers also adds up fast.