Understanding the average expenses for various home renovation projects is crucial for effective budgeting. While specific figures can’t be determined without project details, approximate estimates can provide valuable guidance. Kitchen renovations often entail substantial costs due to factors such as cabinetry, appliances, countertops, and plumbing. A basic kitchen remodel in Toronto may range from $20,000 to $50,000, while a top-tier renovation can easily surpass $100,000. Bathroom renovations typically have a more limited cost range, with basic updates starting around $10,000 and more extensive projects reaching $30,000 or more. Basement finishing is another sought-after renovation, and costs can vary widely based on the desired finish. A simple basement conversion into a recreation room might start at $20,000, while a finished basement with a bedroom and bathroom could cost upwards of $50,000. It’s important to bear in mind that these are estimates, and the actual cost will hinge on several factors, including space size, material choices, labor costs, and unforeseen issues that may arise during the project. Additionally, although the cost per square foot can serve as a beneficial starting point, it’s essential to recognize that not all square footage is equal. For example, a kitchen renovation usually involves more intricate work and higher-end materials than a basic bedroom remodel, leading to a significantly higher cost per square foot.