What real‑world renovation budgets look like in the GTA, where costs hide, and how to structure allowances so you stay in control.
Why renovation budgets fail
Renovation budgets fail when they're built on guesses. Instead of starting with a single number, break your investment into three buckets: base build, finishes, and contingency. This structure gives you clarity and control throughout the project.
Base build: behind the walls
Base build covers everything behind the walls—structure, HVAC, plumbing, electrical, insulation. These items should be fully scoped and priced before construction starts. Skipping proper quoting here is where many projects run over. We recommend fixed pricing for base build where possible.
Finishes: the visible layer
Finishes include flooring, tile, plumbing fixtures, millwork, countertops, and lighting. Organising these into good / better / best tiers helps you make trade‑offs without compromising the entire project. Allowances can be set per category so you know exactly where you can splurge or save.
Contingency: breathing room
Finally, a realistic contingency (often 10–15% depending on the age of the home) gives everyone room to respond properly when unknown conditions appear, instead of cutting corners to stay on a rigid number. We track all changes and keep you informed so there are no surprises at the end.