The cost of building a laneway house or garden suite in Toronto can vary depending on the design, materials, and other factors. On average, you can expect to spend between $350,000 and $750,000+ for a fully finished unit, although costs can be higher for custom luxury builds.
A one-story or single-level laneway house or garden suite will likely cost between $350,000 and $500,000+ in Toronto. The final price will depend on scope, materials, and the complexity of the project!
A two-story or multi-level garden suite or laneway house in Toronto will cost $500,000 to $750,000+.
Converting your Toronto garage or shed into a living structure or extra space could cost anywhere between $50,000 and $250,000+.
The average cost per square foot for a laneway house in Toronto typically ranges from $400 to $700. Factors like the size of the unit, quality of finishes, and complexity of the design will influence the final price.
Various financing options are available to help cover the cost of building a laneway house in Toronto. From home equity lines of credit to specialized loans for secondary units, Oriel Renovations can guide you through the best options for your situation.
At Oriel Renovations, we understand that cost is a major concern for our clients. We work closely with you to establish a clear budget from the outset and ensure all expenses are transparent. Our team is committed to delivering high-quality results within your financial goals. Not only that, when you choose Oriel Renovations for your garden suite or laneway house, we go through our pre-construction process to come up with a fixed-price quote. That means, if you move forward working with Oriel Renovations for the build, you’ll have a solid price that you know will not change for building your laneway house!
If you are considering adding a laneway home to your Toronto property, take a look at these pros and cons to see if it’s the right choice for you!