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cost of gutting and renovating a house

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  • Dec 11th, 2020 4:14 am
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[OP]
Newbie
Oct 30, 2020
37 posts
133 upvotes

cost of gutting and renovating a house

Just read this article on Blogto
https://www.blogto.com/real-estate-toro ... ched-home/

Based on the pics, the interior doesn't look as bad as i initially imagined, but regardless....... for a house like this, what would be the approximate cost to completely gut the whole place and renovate everything again? And how long would it take (i don't mean now during this pandemic but during normal times)?
13 replies
Deal Addict
Dec 24, 2007
1929 posts
459 upvotes
Toronto
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 !
Last edited by badass on Dec 9th, 2020 8:16 am, edited 1 time in total.
Thread started in 2016 - 1927 fully gutted and renovated 2 storey detached home in the big T.O. - small projects still in progress.

RFD priceless!
Deal Addict
User avatar
Dec 10, 2008
4849 posts
1390 upvotes
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
Let's hug it out
Deal Addict
User avatar
Jan 15, 2013
1659 posts
1233 upvotes
Ottawa
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.
Deal Fanatic
User avatar
Dec 4, 2009
5042 posts
1361 upvotes
$400-500k
"I'm a bit upset. I've been grab by the back without any alert and lubrification"
Lucky
Deal Addict
Jan 21, 2018
4585 posts
4650 upvotes
Vancouver
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 +
Deal Addict
Apr 26, 2003
1476 posts
619 upvotes
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.
Deal Addict
User avatar
Mar 30, 2004
2313 posts
1016 upvotes
Edmonton
Every cent you have
The bitterness of poor quality remains long after the sweetness of low price is forgotten....
Deal Fanatic
Mar 21, 2002
6411 posts
1076 upvotes
And then some :twisted:

The fact that you had to ask this question shows that you shouldn't be getting involved in something like this.
Deal Addict
User avatar
Jan 2, 2012
3684 posts
2644 upvotes
KINGSTON,ON
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.
Sr. Member
Mar 25, 2002
619 posts
79 upvotes
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.
Sr. Member
Dec 5, 2009
531 posts
539 upvotes
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.
Deal Guru
Aug 14, 2007
10975 posts
2088 upvotes
Toronto
exrcoupe wrote: 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.
My grandmother's house is about 8-10 blocks east of woodbine.

Anyone thinking that house is going to be sold for $700,000 is dreaming. It's going to go for $900,000-$1,000,000 which will then likely be torn down and a whole new house built in its place.

My grandmother's street this is what happens, every time a house is sold, it's torn down and rebuilt as a new home. Last appraisal was $1.1M and it's the land that is what's worth the money not the home.

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