Cost to Build a Home in Toronto

When it comes to custom home building Toronto, there is nothing quite like the experience of building a custom home in your own unique image. With the surge in popularity for city living, the cost to build a house in Toronto has never been higher, but that doesn’t mean it can’t be done. To determine what your costs will be, you will want to start by creating a budget that accounts for all associated costs.

This article will explore the soft and hard cost items associated with building a house.

If you have any questions, don’t hesitate to contact our team!

Soft Costs of Building a Home in Toronto:

In general, soft costs are the first things to be considered when building a home in Toronto, Soft cost items are important and integral parts that are directly associated with your build, which typically include the following:

1. Legal fees
2. Agent’s fees
3. Land Development, Municipal Fees, Development Charges, Service Connections, Building Permits
4. Architectural, Structural, HVAC Engineering designs
5. Taxes
6. Survey costs such as Topographic
7. Management fees
8. Insurance

For most custom home builds, you can expect legal fees to account for 30% of the total project cost. The soft costs associated with building a custom family home will range anywhere between $40 and $80 per square foot.

Hard Costs of Building a Home in Toronto:

Hard costs include any costs associated with the physical construction of the home and any fixed equipment needed to complete it. These costs will vary significantly depending on the size, location, and style of the project, but estimates will allow you to gauge the range in which your expected build may fall.

When considering the hard costs of building a home, there are seven key elements:

1. Construction mobilization
2. Demolition/Excavation/Foundation
3. Framing/trusses
4. Interior rough ins (Drains, plumbing, electrical, HVAC, insulation)
5. Interior finishes (Drywall, flooring, trim, cabinetry, plumbing/electrical fixtures etc.)
6. Exterior finishes (Stucco, brick, stone, roofing, trim etc)
7. Landscaping (Hard and soft landscaping such as driveways, decks, fencing, grass, etc)

The average per square foot hard cost to build a home in Toronto will depend on whether it’s a regular or premium detached. Regular homes (with nice, but not extravagant finishes) will start at $215 per square foot, with the average being $260 per square foot. If premium is the route you opt to take, you should expect your home build to start at $300 per square foot, with the average being closer to $360 per square foot.With that, you should now be able to estimate the price range in which your custom home will fall. The average cost to build a house in Ontario is rising rapidly. If you and your family are looking into the possibility of building a house, the Torino team has the expert knowledge and resources needed to get it done. Contact us and learn more about how we can bring your home vision to life!

Architectural design

Regardless of where you live, you have probably noticed many different architectural home styles in the neighborhood. The way your home is built, its look, and its unique architectural characteristics, has a large bearing on how much it will cost to build it. The beauty of building a custom home is that you can choose the architectural design you want. However, keep in mind that the more complex the architectural design is, the more you can expect to spend building your custom house.

Certain architectural designs are trendier than others and call for more detail and advanced architectural skill. This will significantly drive up the cost of your custom home build. So be prepared to pay a little bit more for your home’s uniqueness.

Cost of materials

The quality of the materials you use in building a home will impact the cost. There is a wide range of options when it comes to the materials you choose for your home. Some range on the lower end cost-wise, while others cost significantly more. It is important to explore your options well. You may be able to get a similar look for a fraction of the cost.

Ultimately, you want materials that are durable and appealing. It is possible to get both at every price point. Many people underestimate the cost of materials because quotes are typically given per square foot. The amount may seem small, but costs add up quickly.

Luxurious finishes

Opting for luxurious finishes in your home is a great way to build an impressive home. However, the more exquisite your finishes are, the more it will cost to build your house. For example, if you decide to go with a granite kitchen countertop, the cost will be somewhere in the range of $70-$100 per square foot. In comparison, marble can cost about $180 per square foot.

To help curb your expenses, focus on a few key areas to incorporate luxury finishes instead of throughout your home. This will require spending adequate time considering what areas you want to prioritize and focus on. Common areas in the home where luxury finishes are often considered are kitchens and bathrooms. You can greatly reduce the cost of your home if you limit the number of luxuries finishes to these two areas. Then choose more affordable finishes in areas like your bedrooms and basement.

Location and size of your custom home

Where your home will be located is going to influence the cost of building it. This is because the cost of the land will differ from location to location. Many people are drawn to plots that are close to conveniences or surrounded by desirable amenities. If you are planning to build your home in an area that is considered a prime location, it will cost you more to build there than if you built the same house in a less popular area. The cost can also differ even within the same neighborhood. This is often due to a number of varying factors that can make construction on one street more complex than it would be just a few blocks away.

The size of your custom home is a major player in determining the cost to build. The bigger your home is, the more materials it will need and the more labour will be required for construction, driving up the cost to build your home.

Depth of excavation

The size of your home’s footprint is going to affect the cost. How deep the foundation needs to be dug, and the complexity of the underground framework required to support your new home depends on the design and size of your home. The larger your home is, the deeper your foundation will be. This will require more digging and leveling, which will translate to a higher expense.

If your new home will have a basement, which most custom homes do, there will need to be accommodations for this in the foundation. The increased cost will cover the additional materials required for larger homes and the more extensive digging efforts.

Construction costs

One of the top questions many people considering a custom build have is how much it will cost to build it. Where you plan to build is a leading factor in the expense you can expect to incur. The average cost to build a house in Toronto is approximately $400 – $550 per square foot. Knowing the cost to build per square foot can help you decide how big you can afford your house to be. So, a home of 3,300 square feet will cost an average of $1,320,000 to $1,815,000.

The construction costs are often referred to as hard costs and include the various expenses that will go into the actual building of your new home. This includes both the cost of the materials and contractor fees, e.g., plumbing, electrical work and site work.

Administrative costs

In addition to the construction costs, you will encounter administrative costs that need to be factored into your budget. These costs are present regardless of the particulars of the home, but the amount can vary from project to project. These costs generally include permits, the cost of inspection, and fees. If you’re going to hire the services of a lawyer or other professionals to handle some of the aspects of the building process, these will need to be factored into the cost.

Hiring a professional custom home builder can help you determine what the various administrative costs will be based on your project.

Contact us

Torino Construction is among the top custom home builders Ontario has to offer. Partnering with us in the construction of your home guarantees excellent workmanship and expertise.

As experts in custom home building, Torino Construction has vast experience in every step of the process. From beginning to end, you are guaranteed a professional team of contractors who operate at the highest level of quality and service. Get started on your custom home by giving us a call today.