Hi,
We are looking to buy a house and came across a listing in Toronto that looks suitable. However it is one storey house and has two small rooms on the main floor and one big room in the basement.
We are considering the option of renovation by adding one storey in future (as there seems to be space for adding one huge room). We did see see couple of houses being renovated on that lane where they were adding one storey above the main floor.
However we are not sure how much this could cost. Has anybody got an experience of this kind of renovation and can share their budget estimate?
Thanks,
Peace
Quote:
Originally posted by peace
Hi,
We are looking to buy a house and came across a listing in Toronto that looks suitable. However it is one storey house and has two small rooms on the main floor and one big room in the basement.
We are considering the option of renovation by adding one storey in future (as there seems to be space for adding one huge room). We did see see couple of houses being renovated on that lane where they were adding one storey above the main floor.
However we are not sure how much this could cost. Has anybody got an experience of this kind of renovation and can share their budget estimate?
Thanks,
Peace
You are asking for lot of hassles. Adding on story is not a easy task in the country like Canada. You need to get permits and lot of permissions. You need to find a very reliable contractors (which is highly unlikely in Toronto) to undertake the job. Above all - Costs. A small renovation in my house (upgrading to hardwood floor) is costing me $7K. That is only one floor I am taking of.
Location: God's own country
Posted on: 05-09-08 18:56:52
Yup.
What Desi # 1 has said is very true. I can vouch for it being in this line.
You will have to first of all get permits / commitee of Adjustment (if it is not allowed as per the by law). This itself could take months and cost you a lot of money. The next stage is to find a good and reliable contractor. You will have to take the whole roof off along with the trusses and build up. IMO, it is not worth the effort.
Some houses (very rare ) come with the option of putting in a loft without much a ado. This can be done without removing the roof etc..Are you talking about this senario / case?
The only good thing is that in Canada, all the houses are designed for atleast ground floor + 2 stories about it. So you need not worry about the structural part.
I would suggest that you search for a house which meets your criteria. With the recent slump in the housing market, you will be able to find one easily.
Hope this helps.
Peace
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I am a Gents and not a Ladies.
Thanks Desi # 1 and Tamilkuravan.
You are right that we will have to take the whole roof off and thats going to be difficult as we will have to move out of the house till the time the renovation is going on..So we have decided to disregard this option and are looking for other avenues.
Thanks for the replies. Canadian desis have always been helpful.
Regards,
Peace
Hi Peace,
I had sold a house in Etobicoke and my client did an addition to the house. He made two apartments (ground and raised basement) and rented them out. He is getting like $1700-1800 from them.
But one thing is for sure- you definitely have to have lot of patience to deal with city people and the contractor. Though his contractor did everything for him like he got the plan approved, got permissions and permits from the city etc. etc. but still. You must also keep in mind that the contractor should be licensed and insured.
It also depends what type of property you are looking? Principal residence or investment property like fixer-upper/flip over etc.
Hope this helps.
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
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