Estimated Construction Costs
In 2013, the Government of Alberta identified that the cost to build a property in Fort McMurray should be $182 per square foot, however the Municipality understands the cost to build a home in Fort McMurray could cost more.
Through the Municipality's research, the following was identified.
- Homes constructed in 2000 cost on average $130 per square foot
- Homes constructed in 2005 cost on average $182 per square foot
- Homes constructed in 2010 cost on average $225 per square foot
- Homes constructed in 2015 cost on average $245 per square foot
- Homes constructed in 2017 are projected to cost on average $260 per square foot
The recent Alberta Building Codes changes, Electrical Code changes and the implementation the National Energy Code, will increase the cost to build by about five to 10 per cent. Depending on the size, design and complexity of the new build, it is hard to identify an exact cost increase.
Homes constructed in the mid-grade finishes are anticipated to be in the $225-$280 per square foot price range, however houses with upgrades and higher end homes are expected to cost $280-$350+ per square foot.
Residents are encouraged to do their homework on who to hire to rebuild. The process can be very intimidating, but don’t be afraid to ask questions.
For questions, call the Safety Codes Branch at 780-743-7813 or email email@example.com.