Hey all, once again turning to this board for help.
Trying to find out a rough estimate for what it costs to build a new house in Ontario, Canada. There used to be services available from builder supply stores that would allow you to get an estimate. -->“So many dollars per square foot,” that sort of thing.
Am having the hardest time trying to get anything remotely like that now. Can anyone help? ie, offer a site with building cost calculators, or heck, even an idea of what it might cost?
I’m a commercial real estate appraiser. Gimme an idea of what you’re talking about building, and I can flip through my copy of Marshall & Swift and give you a rough idea (I won’t be able to do it until Tuesday though).
Just right off the top of my head, in Oklahoma I think a rough average is maybe $70/SF (in U.S. dollars, of course). This is for an average home with average finish, and of course does not include lot price or builder’s profit or anything else of that sort. I’d guess-timate that construction costs are a bit higher in Ontario.
Oh yeah, Marshall & Swift has an online version, at http://www.swiftestimator.com . You can do it yourself there, but it looks like they charge $6 (U.S.) just to look up one residential cost estimate… I’m not aware of any free online cost estimators, but that’s probably because I work in the business, and M&S is pretty much the only universally recognized source for construction cost estimates.
Oh, its not for a commercial concern.
Was offered some property that might be good for a residential house (mine actually. 
) But I have NO idea what building a house might cost. Trying to get an idea before I go any further.
Oh, I understand, I’m just giving you my background. Us commercial guys like to think that we can handle any real estate appraisal 
Like I said, here in OK, $70/SF is roughly average for homes in urban areas. Without knowing any specifics as to exactly what you’re thinking about constructing, that’s about the best estimate I can give you until I flip through my Marshall & Swift book, which won’t be until Tuesday (I’ll be on the road tomorrow).
Are you trying to include property costs in the price?
nope, just construction costs. Basically what can I build (in terms of square footage) for a given dollar amount.
Well, in CDN$, a very, very, VERY rough idea would be $90-$110 FT[sup]2[/sup]. $100 is a figure I’ve heard used commonly in Alberta, and pretty closely worked out to what we paid for our house a year ago although the market is still very strong. So, you may be wise to go with the high side for ballpark budgeting. I don’t think materials and labor costs would be massively different in Ontario.
By the way, did I say that would be a rough idea? It’s a rough idea.
Interestingly enough, the most recent exchange rate on Yahoo Finance suggests $70/SF U.S. would translate to $103.6 Canadian. To be on the safe side, and considering bernse’s comments, maybe $105-110/SF would be a conservative estimate with a little wiggle room for the odd extra amenity. So that we’re on the same wavelength, here’s some of the features I consider “average” for a new home:
[ul]
[li]wood frame with attractive brick veneer[/li][li]full electrical heat/air[/li][li]average carpeting with ceramic tiling in kitchen/bathrooms[/li][li]two car garage[/li][li]composition gable roof[/li][li]one story[/li][li]no in-ground sprinkler system or pool[/li][li]hollow interior doors[/li][li]single-pane windows[/li][li]middle of the road bathroom fixtures, no whirlpool bathtubs[/li][/ul]
Any extra doo-dads or top-of-the-line finishing like imported marble floors will bump up the price, but even the fanciest finishing shouldn’t be more than twice the estimate of $105. The marginal cost of second story floor space will be lower than the $105 figure, maybe $75 or so depending on what you plan on putting up there. Always bear in mind that in most markets, fancy amenities and finishing will only add to the market value up to a point, after which you’re basically throwing money away unless the amenities are important to you. I don’t know how many times I’ve had to explain to people why I don’t just add the cost of their new fancy Italian marble entryway to the market value…
Just a reminder, I’m a commercial appraiser and anyone here that does residential work might have better insight than I do. Of course, your best bet would be to ask your friendly local home builders’ association. They can at least point you in the direction of local custom home builders that would be more than happy to send you information on what it costs to build a home in your neck of the woods.
Thanks lots desdinova. Thats just the stuff I was looking for.