The Cost of Adding a Basement

The Cost of Adding a Basement

Mar 19, 2020 | Home Additions

Adding a basement to your home is no simple feat. This option is rather pricey, as there are a lot of costly steps involved. House lifting costs roughly between $16,000 and $20,000, then the foundation can cost anywhere between $30,000 and $45,000, and finally, you’ll need to add the cost of finishing your basement which is roughly $55 per square foot – all depending on whether or not you’re to include a bathroom, kitchen, etc.

The overall cost of adding a basement can vary greatly. It can be as low as $30,000 but easily go above $150,000. Of course, if you already have a basement and are looking to expand it or have a crawlspace, costs will vary as underpinning processes will take place. Reviewing our basement renovation services can help you to understand the process.

It’s also important to note that not all houses are ideal for this kind of addition. Homes with wooden structures and lightweight exterior siding are much easier to work with compared to homes covered in masonry. Sometimes, homeowners decide to get a basement put in to create a rental apartment.

In such a case, an areaway (i.e. a separate entrance) needs to be included as well as plumbing, electrical, and more. For this kind of project, there are many rules and regulations to follow according to your region’s Building Code. It’s not as simple as finishing your basement. However, adding a rental space is sure to increase your building’s resale value.

Keep in mind that you’ll need to check with your city if such a project is feasible, that’s why we provide an engineer on-site consultation. The session will allow you to discuss your desire goals and alteration with professional engineers and know if it is feasible in your neighbourhood. Our Building Permit Services can save you a lot of time and money.

The Cost of Adding a Second Storey

Mar 17, 2020 | Home Additions

A turnkey storey addition can cost anywhere between $145 and $210 per square foot. This is one of the most popular home addition options for many reasons.

Firstly, you can expand your living space without taking up more space on your property. It also increases your home’s resale value significantly. Though, like any other home addition, you’ll need to check the rules and regulations by the City of Toronto. Usually, the work should take between 2-4 months. Read more about our home addition services.

In most cases, it is better to add an addition to your current home rather than purchasing a new property. Since the cost related to addiction can be much lower and also you can keep enjoying same neighbourhood.

Building Permit fees calculation

Building Permit fees calculation

Mar 15, 2020 | Building Permits

You might wonder how much would a building permit costs you as a homeowner. For every permit application, you must submit a full application to the City of Toronto. The most application requires drawing and professional engineer stamp to verify the accuracy and responsibility. We do provide building permit applications for our customers, however, if you wonder how much the would city charge you for the application, the following is the formula they use. (following information has been collected from the website of the City of Toronto, please review their site to confirm updated information).

Permit fees shall be calculated based on the formula given below unless otherwise specified in this schedule:
A minimum fee of $198.59 (2020) shall be charged for all work.
An hourly fee of $85.79 (2020) shall be charged for examination and inspection activities.

The above information has been taken from The City of Toronto’s website and can change at any time. Please consult with your architect or project manager for accurate fees. 

Fee Calculation Formula:

  • Permit fee = SI x A
  • SI = Service Index for classification of proposed work
  • A = Floor area in m2 of work involved in work involved

Do you build a permit for your project?

Maserat Developments can help you to prepare drawings and apply for a building permit. If you have an upcoming new build or renovation project, we can assist you to obtain the necessary permits.

Contact us today for your free consultation →

Building Permit fees calculation

What method of payment is accepted for Building Permits?

Mar 14, 2020 | Building Permits

According to the City of Toronto’s website, a homeowner can make payment for their building permits via a variety of methods. Building Permit Fees may be paid by cash, cheque, debit card, Visa or MasterCard.

  • Payment by Visa, MasterCard or Amex is limited to a maximum of $20,000.00. Any balance of payment may be paid by cash, cheque, or debit card
  • Payment by personal or company cheque that is less than $2,000.00 must be certified.
  • Payment of any applicable Parkland Dedication, Development Charges, Educational Development Charges, or Planning Benefits, including other development-related fees, must be made in person and paid by certified cheque only.
  • All cheques are to be made payable to: “The Treasurer – City of Toronto.”
  • No permit will be issued until all fees are paid. However, for projects with fees greater than $20,000, a partial permit for excavation and shoring may be issued if the required deposit is made on the building permit fee.

Can you do renovations in a condo?

Can you do renovations in a condo?

Feb 5, 2020 | Condo Renovations

Yes, you can renovate and remodel your condo unit. You can update almost everything in your unit as long as it does not impact the structure of the building. However, all condo boards require you, as the owner, to submit your renovation plans and layout as a proposal. Every condo has its rules and regulations, so it is critical to ask the management office about their policy before starting any renovation project.

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