A home remodeling cost is often high. It may incur delays, surprise costs, and more that pop up when you have least expected it. Whether small or large, the cruel truth is that the expectations do not match up with reality.
That is why I have gathered as much data as possible to give you a comprehensive remodeling cost. So, no matter if you are planning for a major bathroom remodel or a complete home remodel, you can use these numbers while making the budget plan.
Right from having a quick estimate of the home renovation to the average cost for a home remodel, I have tried collating everything in this blog. Plus, I have also listed the different factors that you should consider for a whole-house renovation. For example, if you are doing a major kitchen remodel, you may need a floor plan, the building material prices, etc.
And that’s not yet. Further, I have divided the home into different zones to give you some average numbers for your home improvement projects.
Let us begin the step-by-step process to understand the cost of remodeling this season.
Average Home Remodeling Cost
The average cost that one incurs while remodeling a house lies anywhere between $19800 to $73200. Of course, it depends upon the kind of remodeling projects you choose. The appliances, fixtures, tiles and marbles, etc., cost differently according to their quality. To save money, I tried remodeling only the living area, kitchen and bathroom. And, I painted the entire house.
Nonetheless, the cost remained heavy. But what I realized was kitchen and bathroom remodel only could have made me spend around $100 to $250 per square foot. But overall, it did not give me the fresh new look that I wanted for the house.
Home Remodeling Cost Based on House Size
Most of the remodeling work is charged on a square foot basis. So, the cost will depend on the area of your house.
If you just want to touch upon some cosmetic work, you will need about $15,000 to $40,000. This includes renovating the countertops, simple appliances, or stock cabinetry. At this cost, you can also laminate flooring, have molding done, or trim and landscape.
A mid-range renovation can be more affordable if you are tight on budget. But, a luxurious renovation can cost you a fortune. The regular rooms, including your bedroom, living room, guest room, kids room, and home office, can be anywhere around $20-$35 per square foot. A simple bathroom remodeling can cost between $40-$90, while a kitchen renovation can cost $60-$100.
If you plan to go for a high-end luxurious remodeling, you must be ready to spend anywhere between $200-$300 per square foot. These estimates include the cost of demolishing the structure and making new structural changes. Further, it also includes installing new appliances and plumbing as well as giving the final finishing touch.
Things to Consider while Calculating Home Remodeling Costs
The best way to prepare your pocket for the remodeling expenses would be to pay attention to the required expenditure factors. Yes, I would tell you this is the most critical part we tend to miss each time. All we have to do is create a list! That’s all.
When I remodeled my house the first time, I followed only the estimates. That helped me have a rough bracket of money to be spent. However, the next time, I took into account different factors which need expenditure. I also collated the indispensable business tools such as the already lying inventory in my house to have a more accurate picture to get the total budget. For instance, permits and labor, location, size and appliances are the major factors of increasing your final costs. It would be wise to estimate using these figures too.
- Interior Designer / Architect
You may need an architect or an interior designer if you want a complex whole house renovation. The architects know the different structural needs, upgrades and current trends. They can also determine the estimated costs for each change. Usually, an architect charges from $125 to $250 per hour.
- Structural Engineering
This is one of the most important aspects while remodeling the house. Check if the load-bearing walls are properly taken care of. The plan review and consultation may take around $300 to $400. Removing walls can cost you from $300 to $10,000.
- Floor Plan
The floor plan includes all the structural and foundation components. You will need a structural engineer if you wish to change the floor plan. For any adjustments, it would take between $750 and $3000.
- Building Materials
For an apartment, the average renovation cost is $25 to $60. If it is a condo that you are renovating, the cost will be approximately $40 to $125 per square foot. Historic homes need more money to upgrade. That’s because it requires special attention to preserve original materials. Not least, you should also consider the cost of lumber. This renovation will charge you between $100 and $400 per square foot.
- Labor Costs
Labor and permit costs include plumbing, electrical or any other additions. On average, you would need around $400 to $1800. However, this price depends upon the hourly charges of the laborer. It is from $20 to $150. On the other hand, a general contractor works on a percentage basis. So, no matter what your work is, they will charge 10 to 20% of the total cost.
- Electrical Wiring
Rewiring a small house would cost between $1,500 and $3000. At the same time, a medium and a large-sized house would be charged from $3,500 to $8000 and $8,000 to $20,000. Not sure how the cost breaks down ? It is $7 per linear foot. It also includes the electric panel cost, which is approximately $1,200 to $2,500.
- New Appliances
The cost to upgrade to new appliances depends upon the size and the brand you choose. New appliances come from $200 to $1,000. At last, you need to consider what meets your expectations and needs.
- HVAC Systems
If you take a good updated HVAC system, you may have to spend some bucks now, but it improves efficiency too. The installation costs for a new system are between $500 to $7,200.
How Remodeling Increases Home’s Value
One of the major reasons behind home improvement projects is to increase the value of the property. Therefore, all the expenses that you incur are basically an investment.
Renovations, however big or small, add value to the property. Even small touch-ups like kitchen and bath remodel or the living space can add significant value to your property. It becomes a game of balancing your expenses when it comes to adding value for reselling purposes. You need to make sure that you are at least getting 60% ROI on your investment while renovating and redoing your house.
How to plan a renovation project
It must have become clear with my frequent emphasis that planning is the key when it comes to renovation. Not only do you get the time to decide what works best for you, but you also get to shop mindfully and save some bucks here and there.
However, planning for a big renovation can be a task in itself. As a newcomer, you may not have a good idea of what is included in building and architecture. Thus, you might not know where to begin. To help you out in this business, I have curated a list of how to go about planning your home renovation.
- Research
Be it the kind of design you want or the kind of appliances, or the kind of security cameras that you need, do thorough research both online and offline. Find out what options are available in the market and what will suit you according to your needs and budget. Go for offline research by visiting hardware shops, consulting architects and builders. It will help you decide what are the available options and pick the one which you find the most suitable.
- Budget and Save
This is the most crucial part of renovation as you need enough money to get all the things you want. Set a remodeling budget for every aspect of renovation work and start saving money wherever you can. Also, be prepared for extra high costs with emergency savings. Remember that urban areas may charge you on a larger scale than semi-urban or rural areas. But it is advisable to keep 20% as the miscellaneous costs, like a buffer. In case you run out of funds, you have something in hand to make some quick adjustments. .
- Free your schedule and look at the weather
It is important to pay close attention to the work of renovation. Also, plan your renovation according to the weather to get it done as quickly as possible with little fuss.
- Go ahead with reliable sources/ references.
Be it choosing the builder or ordering appliances online, go for a reliable source. Otherwise, you might end up with unsatisfactory results. Don’t hesitate double-checking the contractors and places while purchasing the materials.
- Do Not Compromise On The Quality Of Products And Services
It is always a better option to go for fewer good quality things than to go for several things and compromise on quality. Do not forget to ask for testimonials/ references and reviews of the products you purchase to get the best of quality.
- Keep Your Schedule Simple
The main motive of planning is to arrive at the step-by-step action. The first step would be to identify all the problems which need to be fixed. The second step is to demolish structures that need to be renovated. Lastly, the third step is to rebuild while focusing on the problematic areas, followed by the final finishings. Instead of going for an elaborative and confusing plan, follow these three steps and arrange your needs accordingly.
- Tip: Always keep the contracts written with you.
Home Remodeling Cost Estimates Based On The Part Of The House
- Exterior Home Remodelling Cost
The exterior of the house can be remodeled at $600-$1200, depending upon how big the exterior is. Landscaping and fencing usually form a major part of this expenditure. Other costs include exterior painting, siding, etc.
- Living Room
The average cost to remodel your living room lies anywhere between $4000-$10000. But this majorly depends upon your plans and needs. I believe the main cost is incurred while redoing the floor plan, crown molding and painting. Other expenses include design work, installing appliances and furniture.
- Bedroom Remodelling
Your bedroom can be remodeled at anywhere between $1500-$5000. Furnishing, drywalls, paintings, wallpapers, electrical systems, etc., greatly influence these charges.
- Kitchen Renovation
You can easily spend anywhere around $100-$250 per square foot while renovating your kitchen. It all depends on the type of appliances like chimneys, ovens, and dishwashers to the kitchen cabinets you want. The modular kitchen is one of the most important areas where people like to focus while remodeling.
- Bathroom Renovation
A bathroom renovation can cost you around $2500-$15000. It depends upon whether you want a standard renovation or a luxurious high-end remodeling. New flooring and light fixtures are the areas where people like to spend a good amount of money on. People also spend a fortune on additional materials like bathtubs and showerheads.
- Basement Remodeling
A basement remodeling does not charge you much. It usually costs $25-$50. However, it depends upon how large the area is and what purpose it is mainly utilized for.
- Attic Renovation
The standard cost of renovating an attic is between $10000-$30000. You can convert it to a study, workspace or even a living room. The costs will vary accordingly.
- Roof Renovation
A roof renovation can be around $4500-10500. The cost mainly depends upon the size of the area and the kind of material that you want to use. You need to invest in good material as the new roof is the most important part of the house.
How to Save On Home Remodeling Cost
As I have mentioned earlier, you need to save money using the indispensable business tools or wherever you can while renovating your house. However, you need to be careful about a lot of things. I have curated a list of ways in which you can get the maximum out of your money, eventually leading to savings.
- Compare and Contrast
Get multiple quotes from vendors and contractors. Do thorough online research. Find out where you can avail of the cheapest services and products without compromising on the quality.
- Try doing the tasks that you can by yourself.
Be it painting or demolition or anything that you are capable of doing by yourself. You can end up saving a lot of money by not hiring a professional in this way.
- Go for alternatives/ look-alikes.
If you cannot buy anything because that’s out of budget, hunt for a similar alternative.
- Look for online consultations/ one time consultations
Online consultations are cheaper when it comes to asking for small doubts. Even booking one-time consultations can help you in saving a lot of money.
- Sell your old items to cover the costs
You can sell your old appliances and furniture both online and offline, which can cover some of your costs.
Takeaway
Remodeling is a daunting task. It is not something that you can do every year. It is expensive, and it takes a lot of physical effort from your side as well to get the best return. Hence, it is advised to do strong research on the points that I have mentioned. Prior planning, budgeting, and conscious shopping can help you in saving home remodeling costs and efforts. Watch out for this space for similar topics!
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