How Much Does a Home Remodel Cost?
Thinking about selling your home? Did you buy a property and it isn’t in the condition you expected it to be? There are many plans and designs that you need to draw up before you decide to remodel any kind of property. All the other projects that are detailed on this site will give you an idea of the size and costs your budget will need to be able to handle.
If you decide to work on just a few rooms in the household, it’s best to check out the other projects that have been provided in context by House Tipster. Whether your house is on the market, if it isn’t up-to-date nor is it in the best condition it could be, complications down the line will begin to stack up.
The average national range of redoing your whole home can vary. This might even be an understatement since you as the homeowner need reassurance on how large this project will end up being. You don’t need to be an expert to start remodeling your home. However, you most definitely will need to hire multiple contractors with the expertise to recreate your living space.
One million homes are newly constructed on a yearly basis. While this remains a fact, almost half of the homes in the country are either 50 or more years old. This statistic shows us that there are millions of possible homes on the market, how can you make your home stand out? Before you think about the current value of your home, you need to think about the value of your home in the future.
There is a vision that you need to maintain not just in the back of your mind, but also when you’re designing the blueprints, constructing the structures, and installing the items needed. Although it is obvious to say, that vision will always seem like an obligation but every road changes the further you walk. There are so many confrontations, variations, encounters that will be met in your plans, and the renovations of your home will cost differently as you reach the end of each task.
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One of the key things to look for in any remodeling project is to repetitively search for any underlying problems. If you find one yourself, and figure out the expenditure of time and money, you’ll always have the picturesque vision in more detail. You need to understand that Rome wasn’t built in a day so develop a just-in-case approach and save about 20% more into your budget. There may be unforeseen issues down the road.
Image By steveartist From Flickr
A pivotal rule-of-thumb to always keep in mind is to keep your budget at a percentage of your home value. Every renovation project is best kept within the realm of possibility by spending only about 10 to 15 percent of that house’s value.
No matter the size of your home, the remodeling of your home can also be affected by your location and your materials. The average remodel costs can range between $33500 to $150000. As I’ve mentioned before, to begin a project of any size, you need to ask yourself whether you need a permit or not. For home renovations, this will not even be a question.
|Cost Per Sq Ft||Low-High Range|
|Full House Remodel||$15 $60|
|Demolish & Replace||$60 $150|
|Kitchen & Bathrooms||$100 $250|
The remodeling jobs involved with houses require a lot more experts and knowledgeable individuals than one may think. You should expect to spend about $20 to $200 or more per hour. Always keep in mind that there is a minimum of 10 to 20 percent you’ll have to spend through your budget to hire these professionals. If you want the most and maintain ease of mind, then you’ll probably have to save up quite a bit to afford the jobs contractors won’t generally have any expertise in.
You should take into account the money to pour in for architectural involvement or if you want to hire an interior designer. The most you can do to make your life easier is to think about the general categories that you don’t have any prior knowledge in.
If you’re thinking about reinvigorating your home and transforming it with different floor plans, you’ll need to think about hiring an architect. Although draft design plans and blueprints can be costly, they’ll end up exactly how you imagined your home to be. A full remodeling project should have every design with pinpoint, accurate measurements. Otherwise the contractors, builders, and installers will get the job done incorrectly.
An architect charges about $0.50 to $2 per square foot in drafts, while structural engineers will charge about $500 to $1000. But the costliest thing you can do is make a ton of changes. Any change made to the final draw-up will charge you between $750 and $3000, and over. So when it comes time to knock down some walls, you should think carefully and coordinate with the professionals on hand.
Homeowners have the option to hire a contractor and ask the contractor to draw up those plans. But the flourish of an architect’s design skills are lacking in the hands of a contractor. Remember, there’s a purpose for every skilled contractor and there’s a purpose for every skilled architect.
If you’re renovating your home, these are the costs above that will inform you with a certain framework, a certain expectation. But if you live in an apartment, a condo, any other type of space you’re currently living in, then these will be the costs to expect:
|Condo||$40 to $125|
|Apartment||$25 to $60|
|Row House||$25 to $75|
|Bungalow||$35 to $80|
|Farmhouse||$20 to $100|
|Townhouse||$25 to $150|
|Tiny Home||$125 to $175|
|Victorian||$50 to $200|
|Historical||$100 to $400|
Don’t forget that most remodels for your homes will charge you for storing your old debris. The former items of your house need to go somewhere so it’s best to think about how much of your spending will go into demolition and storage. The cost range for such jobs will be anywhere from $1200 to $4700. Remember, you’re not just paying for an improvement, you’re paying for a whole do-over.
Tiny Home Remodel
Now you may have noticed that tiny homes are a lot more expensive than expected, but that’s because tiny homes have less square footage than other housing types. A typical average size of a tiny house ranges from 100 to 400 square feet. The reason is because professionals have a certain minimum to charge their clients.
The smaller the home is, the smaller your budget will be, that thought process may be what you’re thinking. But keep in mind that there is an uncertainty of the value in tiny homes. According to real estate experts, tiny homes are part of a niche market so it’s difficult to sell tiny houses.
If selling the tiny home isn’t what you’re looking to do, and you just want to change the structure and appearance of your tiny home, then you can learn to remodel it yourself. A DIY mindset on a project of this small a size, will give you a much lower price.
Low-End Cost Guide
The low-end of remodeling your home really only involves minor changes to your home. Many homeowners want to know how they can fully maximize the dollar they’re about to spend. Some advice to help drive this train of thought is by understanding that size isn’t what matters, it’s utility. Focusing on the reorganization of the spaces you own will definitely diminish costs.
Rather than trying to add new windows, create different methods to include natural light. A light tube will cost around $500. What is a light tube? It’s a polished sheet metal tube that transfers soft, natural light from outside your home, through your roof into your house. There are even resources available for you to utilize any recycled materials like light fixtures. Reusing recycled salvage will half your costs in your spending budget for electrical work.
In any range of a budget you’re trying to maintain, you should create a percentage plan of how much you’re willing to spend on the renovations made in all parts of your home.
|Room||Percentage of Budget||Average Range|
|Attic or basement||10%-15%||$11000-$30000|
|Patio or backyard||2%-5%||$11000-$30000|
The cost analysis above covers a suggested percentage of your budget to spend and the average spending range the percentage might cost. On most occasions, homeowners will pay more for quality materials, remember to keep in mind that labor cost is relatively fixed.
It’s rhetorical to understand that the kind of costs that will follow the demand of high-end materials will weigh into high expenses. The majority of high-end materials to install will most likely be in the kitchen. There are certain mechanics to reexamine when working on a project. You’ll need the right quality checks to replace the right kinds of materials.
A higher-end remodel will almost certainly require the right kind of professional. For a larger project, you’ll probably need complicated tools and equipment. Things that will need experience and expertise to handle. Unless you know how to use these kinds of renovation instruments, it’ll be easier to ask for multiple estimates.
Garage remodels can really heighten the worth of your home. A key thing about garage remodels is to understand what kind of renovation you’re looking to exact. Are you adding more space to fit in your second car or vehicle? Are you looking to convert it into an additional room? These are the kinds of questions you need to ask yourself before you even think about getting started on a project involving your garage.
The average range for a homeowner to spend on a garage remodel is around $7000 to $15000. The minimum average cost is relatively $3000, while the maximum average cost is about $30000 or more. If you’re concentrating on the remodeling of your home as a whole, then you cannot divide the rooms in your property as separate entities.
How big is your bathroom? Remodels for bathrooms really depend on the sizes, if you have a large bathroom, you have to be willing to spend at least $25000, but probably more. For smaller, mid-sized bathrooms, you probably only need to spend $3500 to $7000.
Many homeowners are willing to spend about $6500 to $16000 if they’re thinking about remodeling their bathroom. Labor is also cost-dependent because a major portion of your budget will go into the people you hire for the jobs on hand.
The most efficient renovations to ensure a great bathroom is to use less water in toilets, sinks and other appliances. Social consciousness has been increasing in both the opinions and minds of homeowners. Plumbing is becoming more and more effective in this manner, so you’ll want to keep this in mind when you decide to sell your newly renovated house.
Image by Dirk Schumacher from Pixabay
The kitchen is essentially where most of your investments pay off. Kermit Baker said, “People buying a house look first at kitchens and baths.” Even a minor renovation can net you around 80%. But this doesn’t mean you’ll always get the most out of your initial stake. Major renovations, believe it or not, can net you about 57% to 63%. But this isn’t always a bad thing.
In this scenario, let’s say that your remodeling ideas and plans go accordingly, and every detail is engaged thoroughly. If a minor renovation cost you around $10000, which is the minimum for smaller projects, you’d be gaining an ROI of about $8000. A major renovation can cost you about $30000, so the ROI estimate would likely be about $17100 to $18900.
Remember that not every home is valued the same. Most homeowners never realize the cost factors that apply when involving the value of a renovation. All cases are varied differently and will be differentiated once the resale process goes through.
Image Contributed by Joe Haupt from Flickr
The basement is the underbelly of your home, it’s your personal fortress of solitude, a sanctuary you can go to get some privacy. Conceptually, you can always convert your basement into a personal, private area but that doesn’t mean you can get rid of any of the utilities already installed.
|Average Range||$7,000 to $22,000|
Ultimately, the best thing to save yourself a good amount of money is finishing your basement. Since there are no requirements to seal your basement, the space usually leans on the function of your HVAC and heating systems. By finishing the bottom half of your home, you’d be saving money on energy bills.
If you’re just redoing your bedrooms, the percentage of your renovation costs for the renewal will be around one to three percent. This number is really only for standard bedrooms. But for a master bedroom, it could cost you from 10 to 13 percent of your budget instead.
Adding New Bedrooms
The addition of new bedrooms in your home will cost you, on average, about $135000 to $282000. The improvements to your property will always increase the value of your house in the market. Especially if you’re adding livable spaces, there’s bound to be a certain percentage increase in your ROI.
All of this means that you need to wisely contemplate if it’s a necessity to add a new room. Certain cities might actually give you more worth for these kinds of projects. An addition to a third bedroom in Los Angeles could increase your resale price up to $50,000. As a better evaluation into cost vs return, these numbers will give you better insight into the ROI.
|High-End Average to Adding A Room||$282062|
|Increase in Home Value||$145486|
|Mid-Range Average to Adding A Room||$136739|
|Increase in Home Value||$80029|
Renewing the face of your home can bring a refreshing atmosphere for any possible buyer you’re trying to influence. The first step in buying a home for all potential future homeowners is by taking a literal first step onto your porch. If your front door, yard, porch, anything involving the front of your home, is outdated or outmoded, the buyer is most likely going to check the next listing available. These are some potential materials to use when renovating or constructing a porch or deck.
|Pressure-Treated Wood||$13-$25 per square foot|
|Plastic||$13-$25 per square foot|
|Softwood||$20 to $35 per square foot|
|Hardwood||$22-$35 per square foot|
Asphalt shingles are the cheapest, effective roofing material in the country. Repairing or replacing your roofs, on average, will cost you around $5000 to $10000. Depending on the kind of materials you’re looking for, it could cost you around $70 to $160 per square.
Keep in mind not to over improve your home…
Again, if this remodeling job is only for appearances, skip this part. If you want to remember this little piece of advice, read on. There are many free resources to understand the valuation of your property. There are also real estate agents or appraisers who can give you an in-depth market analysis but they can cost between $300 to $500. Knowing the value of your home can give you so much more insight on how many changes you’ll want to make on your house.
As long as you know which improvement adds however much value you’re aiming for, your indecisiveness and doubt will clear away. Say you spend about $100000 on a remodel job and your home is worth about $250000, then when it comes time to sell, you find out that the value after remodeling is only $300000. You flushed down about $50000 to improve your home without the profit you expected.
Interior Designing Costs
Homeowners have the tendency to think they can start a project and finish their priorities in a timely manner. But handling every job by yourself isn’t just difficult, sometimes it’s just near impossible. In 2018, there were 63% of Americans who had attempted at least one DIY project and regretted that minimum of one.
Besides the onslaught of migraine after migraine you’ll endure for the list of tasks you’ll have to complete, interior design will become that last hurdle you’ll have to overcome. After all of the installations, the blueprints, and the costs, it will be the interior of the home you’ll forget to implement. That’s where an interior designer will come in handy.
The average rate an interior designer will charge you could range about $2000 to $5000. While the hourly rate can cost you anywhere from $50 to $500 or more per hour, you’ll get the most of what you spend for the services that designers provide. The doubtfulness that inevitably runs through a homeowner’s mind can be relieved by the experts within the industry.
All those fears running through the various scenarios running through your mind, all those questions you keep asking yourself, they’ll all disappear with someone to have your back. Although the contractor usually gives you reassurance, an interior designer will be that cherry on your sundae to help de-escalate your stresses.
As a homeowner, you need to enforce yourself to maintain the parameters and limits to your renovation budget. Especially if you bought your home with a 401(k) loan or a personal loan, every step of this kind of project will feel like tiptoeing across a tightrope. If you already have a savings account and you have enough funds to renovate your home without any worries, you can skip this part.
But for those of you without a savings account, here are some advantages and disadvantages to think about before you begin the paperwork to your application. Before we discuss the benefits and fallouts, you’ll want to know what a home improvement loan is, essentially, it’s a personal loan. By going the route of the loan lender, you’re basically requesting for financial assistance.
The advantages to a personal loan are the following: there is no risk of losing your home, you’re quickly funded to get your project started, and the fees that follow those loans are relatively low. Of course, all options are weighed and disadvantages will undoubtedly accompany this option. The negative impact to applying for a loan are the interest rates, of which can be fairly high. Another negative impact to consider is that there are no benefits to your taxes and the maximum amount to those loans is low.
Make sure to find a loan lender with low APR, no fees, and very good reviews. There are also many other options available for you when you begin a project of any size. So weigh out those options and figure out the best plan to finance your budget.
Multiple Estimates To Find On House Tipster
Throughout the cost guides that you follow on this site, this is the post that covers the most ground. We mention all the parts of your home and how much of the renovation costs will give you the best quality and range of money to spend. House Tipster does its best to guide and educate you on any of your inquiries. Now that you know more about home remodeling, and the several other remodel projects to consider, you should look into hiring several professionals.
Check out House Tipster for multiple estimates. For a project of any size, find the perfect pros for your home repair needs and find out about their estimates. By collecting information on the estimates of dozens of professionals, you’ll have a better understanding of how much you can spend. How much does it cost to finish a basement? Find out from the professionals in your area.