A wheelchair-accessible bathroom or one that accommodates people with limited mobility can be extremely valuable to elderly homeowners or those taking in older relatives. These accommodations include adding a doorway at least 36 inches wide, a roll-in shower with no lip, a wall-mounted sink or toilet, and grab bars. Walk-in tubs are also popular and can come with several extra features such as water or jets, heated seats, or chromotherapy lights. Depending on the extent of the upgrade, you could add between $100 to $18,000 to your remodeling costs. Sweeten general contractors have worked on projects that range from about $50,000 to over $200,000, depending on whether they are conversions or ground-up constructions.
How can I budget for a home renovation project?
Remember, it’s the appliances and cabinets in those rooms that eat up the biggest chunk of money. Here’s what homeowners can expect to pay in home renovation costs for an average-sized house (about 2,500 square feet). Home remodeling costs depend on the square footage, quality of materials, and what areas are renovated. Most remodeling projects add resale value and provide a 50% to 85% return on investment. The cost of labor for a bathroom remodel goes towards the renovation crew, behind-the-scenes administrative employees, and subcontractors. Generally, the cost of labor is dependent on a project’s complexity, size, and location.
Average Cost to Renovate a House by Location
Overall, you can expect to recoup 72% of your investment when you sell your home. If you’re undertaking a home renovation, you’ll probably need at least one building permit. All structural changes and additions require a permit, as do most plumbing and electrical work. Check with your city or county’s building department for more specific information. The best way to estimate your renovation costs is to talk to a local contractor. You might contact a few to get some different estimates to work with.
Enhanced Safety and Improved Accessibility
Outdoor projects are more likely to require a special contractor, which means more money. Here are some of the exterior and interior renovation projects with higher costs to consider. Converting an attic might involve similar costs to a basement renovation but with additional concerns about access, natural light, and the infrastructure needed for a living space. Bedroom renovations often involve cosmetic upgrades such as fresh paint, new flooring, or updated lighting. Compared to other rooms, the average cost is mid-range unless you plan on getting new furniture, which will add to the reno's cost.
Projects such as tiling, electrical, and plumbing might require a skilled contractor, adding to the total cost. If you consider expanding or reconfiguring the space, the project might set you back between $5,000 and $25,000+. Costs vary significantly based on design, appliances, flooring, and countertop materials. A kitchen renovation can cost anywhere between $10,000 and more than $50,000. The main factor in estimating the cost of your renovation will be the size of your home.
Plumbing Fixtures
If the home has asbestos inside, it costs $1,200 to $2,800 extra for safe gutting and removal. The average cost to remodel a whole 1,200 square foot house is $18,000 to $72,000, while remodeling a 2,000 square foot home ranges between $28,000 and $115,000. Major brand names are more expensive than those of competitors, and certain types of paint that provide additional benefits—against mold and mildew, for example—might cost more. Sweeten handpicks the best general contractors to match each project’s location, budget, scope, and style.
Also, if your electrical panel is at capacity, you may need to upgrade it to accommodate new electrical circuits in your additional space. So, if you’re building 300sf, you’re probably budgeting at least $120,000, but if you want to build 1,000sf you can budget $300,000 or less. Just like a kitchen, the most efficient and cost-effective option is to remodel the bathroom and replace the major items in the same location – toilet, vanity, shower, and tub.
How Much Does It Cost To Remodel A House In 2023?
But, we cannot forget that a large portion of the cost of any remodeling project is the materials. Specifically, in this case, these are the rough materials the contractor needs to complete the job. These are simple things like lumber, plywood, drywall, paint, nails, etc. These all seem like commodities and you would expect them to be cheap. But during this inflationary environment, the prices of these materials have increased substantially. The contractor has no choice but to pass these increases along to the consumer in their bid.
DIY Bathroom Remodel
A typical plumbing job costs $300, electrical work costs $350, and installing a new HVAC system runs between $500 and $7,200. You might find the planning process much easier for more complex renovation projects if you hire an architect early on. Your ideas can come to life with the help of an architect who can recommend current trends, upgrades, structural needs, and more. An architect is also helpful as a cost estimator who can determine a rough estimate on expected costs. It’s no secret that older homes tend to hide structural or mechanical issues that must be addressed when they’re discovered. An old house might have great bones, but updating electrical wiring to current safety standards is a good (and sometimes necessary) idea that could save you money in the long run.
Even if you think your roof is in tip-top shape, weather damage and natural disasters are the No.1 reason homeowners replace their roof, according to our March 2024 USA TODAY Homefront survey. Thirty five percent of our survey participants cited this as the primary cause for roof replacement, followed by having an old roof that looks worn (31%). Other reasons for replacing a roof include requirements by a homeowners association and homeowners insurance, each at 10%. According to Sweeten contractors in L.A., this number varies between an estimated $750 to $2,500 depending on the specific scope of work for each project.
Breaking down what makes renovating Wilmington homes so expensive - The News Journal
Breaking down what makes renovating Wilmington homes so expensive.
Posted: Tue, 09 Jan 2024 08:00:00 GMT [source]
Upfront costs of buying a house are one thing to consider, but many home buyers also factor in long-term energy costs. Even if you don’t plan to sell a house soon, consider renovating some mechanical systems to improve the efficiency of your house and lower bills. New double-pane windows, added insulation, or an updated HVAC system improve efficiency. Depending on the scope of the project, it may be necessary to prepare the site for construction whether it be removing landscaping or clearing space to access the house. If significant work is required to prepare the site, expect to pay between $1,200 and $4,000.
Deciding to paint your home is a personal choice that is affected by your willingness and ability to do the job. These estimates offer a range of $3,500 to $14,000 to paint the exterior of a 2,000-square-foot home. You will likely pay more if you have a large home or a home with multiple stories. A professional then removes any tape and plastic before doing touch-ups.
A home estimate can help identify areas that would provide the best ROI. In this case, it’s best to choose styles, colors, and trends that appeal to the current market in your region. Sometimes a house has sustained some damage that doesn’t affect efficiency or function, but it’s still important to repair any damage to keep property value high.
Labor costs typically account for a significant portion of renovation expenses. Hiring reputable contractors and workers ensures a quality job, but it often comes with a premium price tag. Depending on the project's complexity and local labor rates, expect to spend between 40% and 60% of your total budget on labor. Making changes to your home's floor plan can significantly impact renovation costs.
“Renovation” and “remodel” are two terms that are sometimes used interchangeably when discussing various kinds of home projects. While they are similar in nature, remodels tend to be larger-scale home improvements while renovations are usually more repair- and update-focused. On average, Americans spend $22,000 on a single home renovation project. Depending on the type of house, roomand project, the average recommended spending for remodeling projects will vary greatly. It’s best to calculate renovation costs based on the rooms you want to remodel rather than square footage.
Hiring a reputable contractor is the cornerstone of a successful renovation. Make sure to check reviews, ask for references, and get everything in writing. Having a contingency fund for unexpected expenses can be a lifesaver. Trust me, the last thing you want is to halt your project because your budget was as tight as skinny jeans after Thanksgiving.
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