Why are renovation costs so high right now ?

Let’s not lie Renovations have always been pretty expensive but in 2025 we’ve seen a huge increase, it’s probably pretty obvious to most folks but if you’re living in Vancouver, British Columbia, where Little Star Renovations operates then you’ll know that it’s one of the most expensive cities in the world! For better or worse that is affected the cost to renovate, all the trades that come work on your house, live in the same city and have the same cost of living so the labour prices have increased significantly, the cost of materials went up massively during Covid, but then levelled out and came down somewhat but certain materials ie. metals and plastics since the wars have gone up up up. Electrical and Plumbing are the two main trades where we’ve seen a pretty big increase but overall, Labour has gone up across the board.
unfortunately this doesn’t show many signs of changing, I think the one thing to be aware of is that most likely if you’re looking for a company to renovate price might possibly Trump experience and time in the business. my advice would be don’t go for the lowest cost, this will be a huge regret once you get into Renovations as at the best of times Renos can be highly stressful. keep a calm head, go with a trusting company and pay a little bit more. It’ll be worth it in a long run.