Renovating your home is a large job and it’s important to budget accordingly for it. This is much easier if you know the average renovation costs to begin with.
How do you know how much to put aside for your particular renovation job?
Of course, there are many factors that affect how much your remodeling job may cost:
Depending on these factors, you can choose your remodeling contractors.
Each home is different, but you can use average prices to help you create a budget.
Here’s the average renovation costs for every room in your house, to give you a guide.
1. Living Rooms
Living rooms are a popular place to start with remodeling a home.
They don’t have a huge amount of fixtures or fittings like your bathroom or kitchen does, but you do spend a lot of time there.
Renovating the living room is a priority as a new home owner, as you want to be able to relax there.
Because of this, average renovation costs for living rooms are cheaper than other rooms in your home.
— Painting or wallpapering the walls is inexpensive in terms of renovation, as is changing up flooring.
— The more expensive work is work like creating custom shelving units, which can be around $2000 – $5000, or brand new fireplaces which cost around the same.
Overall, you’re looking at spending around $100-$200 per square foot of your living room.
The kitchen is the heart of the home as the saying goes. It’s full of fixtures and fittings that you need, such as your:
— Cooking appliances
Changing your kitchen up is a big deal for your home, as you may want to change the entire layout. Depending on your design, you’ll be changing the way your home operates on the whole.
Because of this, there are lots of different jobs that need to be done in your kitchen.
Levels of Kitchen Remodeling
— At a very basic level, you may choose to just change the tiling and the floors.
— You may also choose to repaint your cabinets, if they’re in good condition and in the right place for you. Otherwise, you’ll need to replace the cabinets too.
— There’s also the matter of your appliances. If you have freestanding appliances you may want to keep them, although many homeowners like to buy integrated appliances to match their new kitchen. This hides things like the refrigerator and the dishwasher behind cabinet doors, improving the look of the kitchen.
Changing up the entire style and floor plan of your kitchen will add more to the total renovation costs, as you’d expect.
Cabinets, appliances and installation alone will make up almost half of the costs, with the average renovation costs at around $40,000 – $125,000.
On average, a kitchen remodel will cost from $250 per square foot, with a full remodel costing from $300 per square foot.
The bathroom is another room that will take up a lot of your budget when you’re renovating your home.
Like the kitchen, bathroom remodeling has higher average renovation costs. This is because it includes fixtures and fittings that can get pricey, depending on what you intend to replace them with.
— A very basic remodel will again just include changing the tiles and the flooring, something you may want to consider if the bathtub and sink are still in good condition.
— If you want to take it further, you can change out the bathroom appliances and plumbing to something new and modern.
— If you want to change the layout of your bathroom entirely, then this is going to cost extra. This is due to the fact you’d have to move plumbing around in the bathroom, to accommodate the new layout.
There are some workarounds you can use, depending on your budget and your existing bathroom.
As an example, if you love your bathtub but the finish or color isn’t ideal, you can have it painted or reglazed to match your new color scheme.
Levels of Bathroom Remodeling
The costs will depend on which bathroom you’re renovating.
— A powder room can be kept under $2000 if you’re savvy about shopping around.
— A secondary or children’s bathroom will be slightly more, with a master bathroom usually costing the most.
These can run from $20,000 to $30,000 depending on where you live.
As a rule of thumb, a bathroom remodel will cost $75 – $100 per square foot if you handle the work yourself, or around $225 per square foot if you hire a professional.
The cost of bedroom remodeling varies a lot, depending on your needs. As your family changes, you may need more or fewer bedrooms overall.
For example, you may choose to turn one bedroom into a home office, or you’ll add an extra room to expand for a growing family.
Because of the many options for bedroom remodeling, you have more flexibility with your budget.
— Are you looking to just paint the room, add new flooring, and buy new furniture?
— Or, are you opting for a mother-in-law addition?
The latter will prove to have higher average renovation costs.
On average, they will cost around $5,300.
As a guide, put aside around $66 – $125 per square foot for bedrooms.
Creating an outdoor space that you can use in the warmer months is a great idea, not only because it gives you more useable space on your property but because it increases the value of your home as a whole.
The ROI on outdoor improvements, such as adding a deck, can be as much as 81%.
Adding an enclosed outdoor space, such as a screened in porch, will cost somewhere between $10,000 and $20,000.
This will be up to $35 per square foot, depending whether you’re enclosing an existing space or creating a whole new deck.
Finally, a basement is a fantastic investment in your home. It adds a lot of extra space that you can use as you wish, whether you want to add extra living space, or you want a home gym.
Whatever you want to do with it, you’ll need to finish your basement.
This may require
— Dry walling
— Adding electrics
— Creating plumbing
This can cost around $20,000, depending on what works needs to be done.
This comes out at around $25 – $90 per square foot.
Average Renovation Costs In General
These are the average renovation costs of most remodels you’ll undertake in your home.
Although we discussed many types of remodeling projects, you may have something else in mind.
Use these numbers to create a rough budget, and remember that your needs may differ in terms of funding.
Get the budget right, and you’ll be able to create the perfect new room for your new home.
If you still have questions about the average costs of remodeling projects, contact us today. We will provide a free, in-home, and customized estimate based on your vision and project.