Many of us don’t have the slightest idea how much it really costs to undergo a basic home renovation, let alone a complete overhaul. Luckily, that’s all about to change. In our Common Renovating Costs series, Danny Edell of Toronto-based boutique construction and renovation company True Contractors crunches numbers and breaks down the details for us. First up? Flooring. Here’s what you need to know:

Before you install brand new flooring, you’ll likely need to remove your existing floors, which costs an average of $1.25 per square foot to have done professionally. Need to replace your subfloors, too? That’ll cost around $2.10 per square foot for standard 5/8” plywood.

Floor Underlay
• There are a variety of floor underlayments (a thin material that’s sandwiched between the exposed flooring and subfloor) on the market that address different needs – from vapour barriers to sound control to insulation.
• These products range in price from $0.20 to $5 per square foot.

Wood
• Typical hardwood is priced around $7 per square foot. Expect to pay $2.50 per square foot for nail-down installation, if hiring a professional.
• More expensive wood (think scraped, distressed or exotic varieties) will cost between $8 to $12 per square foot, while less expensive types are priced between $4 to $6.
• The above prices are subject to the size and brand of the wood. Costs also vary depending on if the product is engineered or solid hardwood.
• If you already have hardwood floors but wish to refinish them, it will cost approximately $2.50 per square foot, including stain.

Laminate
• Laminate is a common choice thanks to its durability, affordability and stylish wood look. Durable flooring that will not scratch, gouge and dent has been a new trend in recent years.
• The flooring is crafted from layered materials that have been fused together through a lamination process. The top decorative layer is a high-quality image that mimics the look of wood. There’s also a fiberboard core (typically MDF) and a layer of melamine resin.
• This will cost approximately $2 to $4 per square foot in material and $2 to $2.50 in labour, assuming your subfloors are intact.

Vinyl
• Another budget-friendly and resilient flooring option is vinyl. The plastic material is offered in a variety of styles, from planks to sheeting to tiles.
• Similar to laminate, vinyl plank flooring is often used as an affordable wood-look alternative.
• The main draw? Unlike wood and laminate, the material is completely waterproof.
• Expect to pay between $3 to $5 per square foot in material and $2 to $2.50 in labour costs.

Tile
• Perhaps you’re looking to tile your bathroom, laundry room, entryway or kitchen. That would mean you’re considering porcelain tiles, ceramic tiles or maybe even natural stone.
• The most costly option is a natural stone like marble, which is typically priced at $15 (or higher) per square foot, plus $6 to $8 per square foot for installation.
• Man-made tiles will cost far less, from $6 to $8 per square foot for porcelain and $3 to $5 for ceramic.

Carpet
• If you still prefer the feeling of a plush carpet underfoot, budget for $3 to $4 per square foot for material and $1 to $2 per square foot for installation.
• Carpet tiles tend to be more expensive, costing $5 (or higher) per square foot, while industrial carpet can cost as little as $1 per square foot.

Common Renovating Costs : Flooring by HGTV