Tag Archives: efis

Toronto Stucco/EIFS Average Price/Cost

Posted by Admin on January 25, 2010 3 comments

When it comes to attaining a budget price for your home renovation, there are various (dozens, actually) of things that need to be taken into account. Some of them are:

  • Time of year
  • Time frame
  • Size of walls – height
  • Detailing of walls – protrusions, windows, number of surfaces
  • Amount and type of stucco trim/moulding and decor
  • Missing / not-included work items
  • Condition or removal of existing siding
  • Distance of project from contractor

You should be able to budget around $10 per square foot, but realize that this is just an estimate. Getting an actual quote is the best way to find out how much it will truly cost.

As is always possible, you can bargain and haggle the price down, just be aware that whether you are aware of it or not, you are sacrificing quality which will decrease the longevity of your wall system. It’s the author’s opinion that anyone considering renovating or building with EIFS (exterior insulation finish systems) educate themselves on common practices, then pay a little more than what they could get as cheaply as possible.

Look at it like this: If you have 1,500 square feet of wall space that needs to be done, and you might get quotes around $13,000, $15,000 and $19,000. That’s a huge range. More than likely, the $19,000 quote is from a contractor who doesn’t need the extra work but will do it anyways if it’s worth his time, but because they’re overloaded you probably won’t get the attention you need either. At this point, most home owners will go for the $13000 quote, because it is within what they read is “normal” from other home owners, who may or may not (probably the latter) know what they actually got. They think that they are saving $2,000.

But this contractor, unbeknown to the home owner or his competitor – priced the project using mechanical adhesive (screws) and no weather barrier (against the manufacturer’s instructions). Within a few days the the plywood substrate is covered and no one who is knowledgeable on the subject saw the project, or bothered to say anything to the home owner.

Now… even a poorly installed EIFS cladding will last for years, maybe decades. Not only that, but in that time frame it may have even paid for itself in energy savings. Because there is no weather barrier however, and the home owner didn’t know any better, in 15 years a home inspection is done and mould is discovered. It has rotted the plywood and moved into wall studs. The home owner is told that the mould may be harmful to their health, and is compromising the structural integrity of the wood studs, and needs to be replaced immediately. The home owner ends up incurring cost after cost:

  • $4,000 for mould remediation…
  • $5,000 to remove the defective EIFS…
  • $4,000 for a carpenter to replace the wood studs and plywood…
  • …and in a perfect world $16,000 for the EIFS to be properly re-installed.

That’s over $29,000 of out of pocket expenses, and another $30,000 to sue a contractor… if you can find him. Unfortunately, the reputation of EIFS is frequently (and wrongfully) tarnished in these situations, because of the unscrupulous morals of a single contractor and the lack of discretion from a home owner. In the end, it always benefits the home owner to pay the little extra and ensure the job gets done right the first time. That isn’t to say that paying more will ensure your job is done properly though.

When all is said and done, most people end up around the $10-12 per square foot range, when doing a large part of their home. When doing a smaller part (less than 300 square feet), it’s more common to see prices in the $15+ per square foot range.

Sign up to receive a stucco quote the main page to get information on what to look for and ensure that you your home renovation project is done right.

Exterior Insulation Government Rebates and Renovation Tax Credits

Posted by Admin on September 9, 2009 1 comments

The Canadian Government is currently running two concurrent programs to help home owners with home renovations. These programs provide monetary incentives to home owners who perform renovations on their home, stimulating the economy by providing work for skilled trades, and benefiting the home owners by helping them increase their home value.

Retrofit Rebate Program

The first program is the Retrofit Rebate Program, in which the home owner contacts one of the Auditors listed on the  Home Energy Audit Program website. The auditor performs an evaluation of where your home currently stands in terms of energy consumption and efficiency. This audit typically costs around $400, of which $150 is covered by the Government of Ontario. If you currently have a mortgage with Royal Bank of Canada (RBC), they have a program which covers the rest of the cost of the initial inspection, and unfortunately for the rest of you, they seem to be the only bank to do so. From the time of the inspection, home owners are given 18 months to complete any and all eligible energy efficiency renovations and have the auditor return to do the final inspection. Once the final inspection is complete, you are assessed for a rebate for upwards of $10,000 in the form of a cheque, split between the Government of Ontario and the Government of Canada, which tends to take 8-10 weeks to arrive. The genious behind this program is that these subsidized renovations actually DECREASE your expenses. This income gets spent instead on paying back the loan you took out (whether it was line-of-credit, or re-mortgaging), increasing your equity and investment in your largest asset — your home.

So why, with all the other renovations available, would you choose to re-clad your home with EIFS (exterior insulation finish system)? Simply put, it has the biggest pay back. Of all the renovations, exterior insulation (the “EI” in “EIFS”) provides the largest single rebate at $3,750. Furthermore, re-cladding your walls with EIFS has the largest potential to reduce your heating bills. See Saving Money on Heating/Cooling Bills. Additionally, EIFS helps improve air sealing — potentially adding another $480 to your rebate.

Home Renovation Tax Credit (HRTC)

The second program is the Home Renovation Tax Credit (HRTC), put on by the Canada Revenue Agency. Under this program, you are reimbursed for 15% of renovations between $1,000 and $10,000, for up to $1,350 [($10,000 ? $1,000) × 15%] on renovations done between January 27th, 2009 and February 1st, 2010. While the math may seem funny, it is nonetheless real money you get back. This money comes back to you in the form of a tax credit.

Simply keep your receipts/invoices for the renovations you had done (making sure that it is first eligible under the program), and present it to your accountant when you have your personal income taxes done.

Total Rebates and Credits

For the average $15,000 home EIFS renovation in Toronto, most home owners are looking at getting back $5,100 (plus possibly air sealing), putting the actual cost around $10,000. Factor in the increase in your home’s value and the money you save on heating/cooling bills and only a fool wouldn’t take advantage of this opportunity.