So you are thinking of building or renovating a house, cost of construction vary depending on the type of house, design and finishing details, following are guidelines for you to use in budgeting.

• What is the approximate per square foot price to a project?

(The following prices include design, permits, engineering and construction costs)

Quality finished Custom Home:
$175 to 225 per square foot

High end Custom Homes that include exclusive features such as pools, elevators etc.
$225 to $400 per square foot

Residential addition:
$200 – $300 per square foot

Residential interior renovation( including kitchens):
$75-$100 per square foot

Basement development:
$40-$60 per square foot

• Another frequently asked question is how long would it take to complete the custom home or major renovation; here are some answers:

Most residential project take between 1-6 months to complete this would include main floor renovations, kitchens, basement development, and complete interior/exterior renovations of an existing structure.

Residential Projects under $100,000 4-6 months
Residential Projects between $100,000 -$500,000 take 6-8 months
Residential Projects over $500,000 can take up to one year

• If I’m building a home approximately 4,000 square feet, how long should I allow from design to permit to completion?

Approximately 12 months.

• Can I use any of my own trades?

We allow part of construction to be done by the owners or their trades as long as the work does not require certification. Responsibility for scheduling and warranty for those parts of the project is assigned to the home owner.

• Will there be a site supervisor on site?

There is always a project manager, site supervisor and administrative support provided for each project. Depending on the size and complexity of the project a supervisor may be assigned on a part-time or full time basis.

• Is there a deposit or down payment required?

Yes. Deposits or down payments are generally as follows:
Design & Build 5% of the construction costs at signing
Renovations 20% of the construction costs at signing

• How are payments or draws made?

Payments are made in two different ways:
On a monthly basis based on the percentage of construction completed
On construction progress after the completion of each phase such as foundation, framing, mechanical and others.

• How do I legally hold back funds?

We follow the Alberta Builders Lein Act and therefore accept a 10% holdback on each draw, which is deposited into a mutually held
Lein Holdback account at a given financial institution or by the lawyer administering the mortgage.