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You may wonder how much it would cost to remodel or renovate your entire house. Perhaps you want to replace your kitchen cabinets or add a room? Or maybe, you want to substitute that old carpet with classy hardwood flooring?
Home renovations can be pretty pricy, and proper budgeting is essential to avoid overspending or having to place the project on hold until generating the funds to continue.
Here are the key points that make up the cost
Thinking of renovating your home? It’s a big task, and cost can be overwhelming. To budget properly, consider:
Permits and labor costs, which vary depending on the project’s scope and type of contractor. Check with local authorities for permit costs and consider DIY to save money.
Size of your home, with larger spaces requiring more money. For example, a 1000 sq ft home renovation can cost around $23,000 and a 3000-4000 sq ft home renovation can cost between $90,000-$120,000
Materials, where research and quality can impact durability and longevity of the renovation
Room by room costs, where a living room remodel can cost $15-$80 per sq ft, a kitchen remodel can cost $6,000-$65,000 and a bedroom remodel can range from cheap to expensive.
Estimating the costs of remodeling an entire house can be overwhelming as there are so many elements to consider. And remember, if you know how to DIY, it’ll cost you less. So, go forth and renovate, but do it smartly!
In order to give you a good starting point, we have gathered some information you should consider before initiating any renovation projects.
Factors That Shape The Price of The Remodeling Projects
Permits and Labor
Almost every renovation project requires a permit. Most often, permits are needed for additions, new constructions, major renovations, as well as electrical or plumbing work.
In this article we have provided an estimated price for this, however, we advise you to check with your local authorities in order to understand what is required and how much it will cost.
Depending on the scope of the project, a home renovation may require multiple different types of contractors. General contractor fees are usually between 10 to 15 percent of the total budget, while the average hourly cost of any laborer on a construction project costs from $20 to $150.
The size of your home.
As with any renovation project, the larger the space is, the more money you will have to invest. According to HomeAdvisor, the estimated budget you need in order to renovate a 1000-square-foot home varies from around $19,000, however, the spendings for a 3000- to 4000-square- foot home can be from $75,000 to $100,000.
From structural materials such as paint, nails, and wood to kitchen appliances like ovens, stoves, and fridges, the range of prices has no bounds. Remember, saving a little bit of money on a fridge or a stove may not be such an issue, however, saving money on the building materials can be an issue. You really want to ensure that your renovation projects are durable and will last many years. Therefore, make sure to research the market for high end materials and carefully plan what you will purchase.
Home Renovation Costs Room by Room.
Living Room Remodel
Living room remodeling can be a fun and creative process. However, without proper planning, your idea may not turn out right. While some people only plan on adding a fresh coat of paint, others go ahead and undertake more significant projects.
If you plan on replacing your old furniture, including some new lighting fixtures, adding a couple more electric outlets, or replacing the flooring, you must ensure that you have the means to cover these items.
The general price for remodeling a living space is from $10 to $60 per square foot. However, if you know how to get around such projects, the price will get lower, and a simple DIY job will most likely cost you around $60 per square foot.
Remodeling the kitchen may be the most expensive part of the entire project. A kitchen remodel project can cost you from $6,000 to $65,000 and even more, depending on the size of your kitchen.
A relatively small project, including an upgrade of the lights, paint, and kitchen tops, will cost you between $5,000 to $30,000.
However, if you wish to replace the flooring and incorporate well-priced kitchen counters, the price may jump from $30,000 to $65,000.
For a high-end kitchen you will have to prepare to spend a solid amount starting from $65,000 up. With such a large budget, you can include features such as:
- SMART appliances.
- Stone or granite countertops.
- Solid wood flooring.
- Fancy lighting fixtures.
Bedroom remodeling projects can range from cheap to expensive. It really depends on what you have in mind. Do you want to repaint the walls, change the bed and replace the flooring? In that case, the estimated average price for such renovations is around $3,500.
Do you want to extend the room by removing a wall? Well, in that case, the price will undoubtedly be higher, as some permits will be needed.
A more significant project will cost you around $30,000 to $45,000, depending on the square footage of the space.
The price for finishing an attic depends on the type of work involved. Still, it varies typically between $30 to $60 per square foot for simple projects like drywalling, adding insulation, and installing a fan. You can also include the labor and the used materials at this price.
The average total price varies from $4,000 to $16,000, however, if the project is more significant, the price will go up.
You may expect to pay as much as $200 per square foot for structural changes. Consider the total costs of finishing the area, its size, configuration, intended use, whether additional heating, cooling, plumbing, or electrical systems are required, and other factors when calculating your budget.
Like kitchen remodeling projects, bathroom renovation projects come in a range of various prices, depending on what you are planning to do. Do you wish to replace the cabinets, or perhaps you wish to include a bathtub? Changing the footprint may lead to additional costs, as a permit may possibly be required.
If you have the needed budget, you can also hire an architect to design your dream bathroom. If the budget is rather tight, you can simply refresh the floor tiles, add new cabinets, and replace the sink, shower, and toilet.
Prices for such projects vary from $4,000 – $30,000 for a mid-level remodeling, to $36,000 – $55,000 for a high-end renovation.
Estimating the potential price for basement remodeling depends on several things. How big is the place, and in what condition is the area and the house plan? As already mentioned, adding or removing a wall can increase the price. Fixing the floor, repainting the walls, and changing the lights will increase the price further.
What’s more, if you plan on adding a bathroom or additional storage in your basement, you will have to get in touch with a plumber, therefore, more money to pay.
A basic basement remodel project comes in around $12,300 to $33,300, with some projects going over $40,000. Per square foot, you will pay between $100 and $300.
Your front door is simply one part of the entrance. Your front porch, lighting, landscaping, and walkways will always make the first impression on anyone visiting your house. You can make your entrance lovely without spending a fortune.
You’ll pay between $1,030 and $1,250 on a tiny entryway, and between $2,570 and $3,120 on a medium entryway. A sizable entryway makeover costs from $8,880 to $10,780 or more.
Think about what you wish to renovate and prepare your budget correctly before you initiate the project.
The costs for remodeling a garage can range from $3,000 to more than $30,000, depending on how complicated the project is. Most often, the average homeowner will spend $11,000 to fully remodel a two-car garage with new cabinet storage, garage door replacement, paint, and floor covering.
General Renovation Costs per Square Foot.
Floor Plan and Foundation Changes
According to HomeGuide, a home’s floor plan alteration can cost anywhere from $750 to $3,000 or even more. Plans and blueprints may cost between $0.50 and $2.00 per square foot.
Moreover, structural engineers are definitely necessary when removing load-bearing walls or designing an addition. The price for such service varies between $350 and $900.
Average hourly prices for electricians may range from $40 to $100. Rewiring a property altogether might cost anywhere from $3,500 to $8,000, depending on the house’s size and accessibility. According to HomeGuide, a new electrical panel installation costs between $1,200 and $2,500.
Once again, depending on the size of the home, replumbing costs often range from $2,500 to $6,000 per square foot. A new bathtub, sink, or toilet costs between $450 and $1,800. Plumbers’ hourly fees range from $45 to $150 for minor work, with most repairs costing between $250 and $800.
You may be wondering what HVAC means. The purpose of heating, ventilation, and air conditioning (HVAC) systems is to meet environmental standards for occupant comfort and process.
A new HVAC system, which includes installing a new air conditioner and gas furnace, typically costs $5,000 to $11,000.
The size of the roof, as well as the materials used, play a significant role in the budget estimation for roof remodeling. The median price of a new roof ranges from $4,707 to $10,460.
A 2,000 square foot asphalt roof typically costs between $3,600 and $10,800, but a metal roof can cost between $8,000 and $24,000.
You should also include an amount of $125 to $500 per square for the previous removal if you plan on replacing your current roof.
Price estimate for a room to be included
Maybe you plan on including another room to your house. A partition wall removal typically costs $500 to $2,000 on average.
A single-story home will cost you between $4,000 and $10,000 to remove a load-bearing wall, while a multi-story house will cost between $9,000 and $15,000.
Keep in mind that the size of the wall and whether additional support is needed all affect the final cost.
Other factors you should definitely take into consideration
Full Cost to Completely Renovating An Entire House
A 1,200-square-foot property will typically cost between $18,000 and $72,000 to remodel, however, a 2,000-square-foot home will cost between $28,000 and $115,000.
Home renovation costs vary according to the amount of the remodel project, the size of the materials, and whether or not the layout will be structurally modified.
Depending on the size and age of your home, it typically costs $100,000 to $200,000 to gut and renovate it. Including demolition, structural upgrades, new electricity and plumbing, a new roof and HVAC system, new appliances, and finishings. A gut house makeover will cost you anywhere between $60 and $150 per square foot.
Considering Hiring an Architect?
An architect will charge you between $450 and $1,500 per room, or 10% to 25% of the overall budget. For planning and production, a licensed architect charges between $100 and $250 per hour.
Of course, as each project requires a different amount of work, this billing approach can differ. The following costs per square foot can be broken down per work phase:
- Concept development and initial drafts will cost you from $2–$5 per square foot. This fee covers the initial design consultation, the visitation of your home, and the initial required documents.
- Building documents are priced between $2 and $5 per square foot and include thorough drawings of every construction component.
- Project management or administration costs range from $2 to $5 per square foot, depending on how much on-site construction supervision and documents are needed.
Building Permits and Labor costs
A building permit typically costs $1,300, but many homeowners may spend anything from $435 to $2,308. The price will be shaped by factors such as the city you reside in and the project you want to finish.
Depending on the service and the worker’s experience, remodeling labor can range from $20 to more than $200 per hour.
Plumber rates average from $45 to $200 per hour. Electricians and HVAC technicians charge from $50 to $100 per hour.
DIY vs. hiring a contractor
If you think that you cannot handle the project on your own, make sure to hire the right contractors.
We know how pricy and complicated some mistakes can be, therefore, make sure you have the right team to avoid them. Hiring a pro for plumbing, electrical, and HVAC projects is also highly advisable.
On the other hand, if you have some experience updating flooring or re-painting a house on your own, that will surely save money on labor. Map out all tasks you can do on your own and calculate the budget excluding them.
Home Renovation Costs FAQs
Is remodeling a home worth it?
You may wonder if remodeling your house is worth it. Well, that depends. If you plan to stay in your home for the long term, perhaps you should remodel it up to your liking. Make sure the house is comfortable and works best for you.
You don’t necessarily have to undertake a whole house renovation; you may simply focus on the areas which will be resided in the most and later on include additions to the rest of the house.
On the other hand, if you plan on selling the house, you may take a different approach. Renovate only the areas that need it and focus on getting the maximum return on your investment.
Is it worth it to remodel an old house?
Old homes often have hidden issues, such as lead paint, rotting wood, or faulty electric circuits, which are more labor-intensive and expensive.
The average cost of renovating an old home is around $100,000 to $250,000, which is somewhere between $100 and $200 per square foot.
Is it cheaper to remodel or build a new house?
Remodeling an entire house costs 20% to 50% less than building a new home. Building a brand-new home will cost you somewhere around $155,000 to $400,000, while remodeling or renovating your current home is $100,000 to $200,000.
To finalize, we want to stress that the average cost per square foot for a remodeling project solely depends on the type of home you own, its total square footage and how much remodeling you really want to do. It also depends on the specific areas you wish to completely renovate.
Before taking any actions, you should ensure that you are familiar with all processes, documentation, and prices. Make sure your budget is properly calculated so the work can proceed smoothly without any interruptions.
Suppose this is the very first home remodeling project you are planning to undertake. In that case, the important points and prices we have discussed above will definitely prove helpful and give you a direction on how much everything costs on average.