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:
- Legal fees
- Agent’s fees
- Land Development, Municipal Fees, Development Charges, Service Connections, Building Permits
- Architectural, Structural, HVAC Engineering designs
- Survey costs such as Topographic
- Management fees
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:
- Construction mobilization
- Interior rough-ins (Drains, plumbing, electrical, HVAC, insulation)
- Interior finishes (Drywall, flooring, trim, cabinetry, plumbing/electrical fixtures etc.)
- Exterior finishes (Stucco, brick, stone, roofing, trim etc)
- 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!