Complete House Renovation Cost: Your Ultimate Guide to Budgeting

Renovating a house can be as transformative as it is daunting. With costs ranging from $19,485 to $88,366 and an average of $52,253, understanding the complete house renovation cost can help you plan and budget more effectively. In this guide, we will dive deep into the costs associated with different renovation projects, providing you with the insights needed to make informed decisions.

Introduction: Why Budgeting Matters

Did you know that a well-planned renovation can boost your home's value by up to 60%?

Many homeowners start renovations without a clear understanding of the costs involved, leading to overspending and unfinished projects.

This guide will break down the costs associated with complete house renovations, helping you budget like a pro.

By the end of this article, you'll understand the factors affecting renovation costs, how to plan your budget, and what to expect for different types of projects.

Step 1: Understanding House Renovation Costs

Whole House Renovation Cost by Square Footage

Renovation costs can vary significantly based on the size of your home. On average, costs range from $15 to $60 per square foot, but high-end renovations can soar up to $150 per square foot.

• 1,250 Sq Ft: $18,750–$75,000
• 1,600 Sq Ft: $24,000–$96,000
• 2,000 Sq Ft: $30,000–$120,000
• 2,500 Sq Ft: $37,500–$150,000
• 3,500 Sq Ft: $52,500–$210,000

These estimates cover basic renovations; opting for custom finishes or premium materials will increase costs significantly.

Home Renovation Cost by Project

Whether you choose to renovate one room at a time or tackle the entire house, knowing the costs associated with each type of project is crucial. Here's a breakdown:

• Living Room Remodel: $5,000–$10,000
• Bedroom Remodel: $1,500–$5,500
• Kitchen Renovation: $14,500–$40,500
• Bathroom Remodel: $6,500–$28,000
• Basement Renovation: $12,000–$35,000
• Home Theater Installation: $10,000–$60,000
• Attic Remodel: $4,500–$16,500
• Garage Renovation: $1,500–$50,000

General Contractor Cost

Hiring a general contractor can streamline the renovation process, but it comes at a cost. Expect to pay 40% to 50% of the total renovation cost for contractor fees. While this might seem steep, a contractor handles everything from planning to execution, saving you time and potential headaches.

Additional Contractors to Consider Hiring

Depending on your project's scope, you might need to hire additional specialists:

• Plumber: $350 to $2,000
• Electrician: $1,500 to $10,000
• HVAC Contractor: $5,000 to $12,500
• Drywall Installer: $1.50–$3 per sq. ft.
• Flooring Installer: $3–$15 per sq. ft.
• Window Installer: $300–$1,500 per window

Step 2: Factors Influencing Renovation Costs

Home Age

Older homes often require updates to plumbing, electrical, and HVAC systems, which can increase costs. Expect to pay a minimum of $100,000 for significant renovations in older homes.

Permits

Permits are a necessary part of many renovation projects. They typically cost between $500 and $2,500, depending on the project's complexity and local regulations.

Location

Renovation costs can vary by location due to differences in labor and material costs. For instance, remodeling in urban areas tends to be more expensive than in rural locations. Here's a snapshot of average costs in major U.S. cities:

• Austin: $39,400
• Chicago: $44,700
• Dallas: $42,000
• Houston: $45,400
• Los Angeles: $47,200
• New York: $50,100
• Philadelphia: $40,000
• Phoenix: $39,500
• San Antonio: $35,900
• San Francisco: $56,500
• Seattle: $52,600

Step 3: Tips and Reminders

Renovating a Home Yourself vs. Hiring a Pro

While DIY can save money, it often comes with risks, such as safety hazards and potential damage. For comprehensive projects, hiring professionals is recommended. However, tasks like painting and minor repairs can be tackled DIY-style to save costs.

Renovating vs. Remodeling

Renovating involves updating and refreshing spaces, while remodeling can include structural changes and reconfigurations. Remodeling tends to be more expensive but offers a higher return on investment.

Ways to Save on Renovation Costs

• Budget-Friendly Materials: Choose mid-range materials to balance cost and quality.
• Do Safe DIY: Handle smaller tasks yourself to cut labor costs.
• Consider Long-Term Savings: Opt for durable materials to reduce future maintenance costs.
• Maximize Space: Optimize the existing space before considering expansions.
• Multiple Quotes: Get at least three quotes for professional services to ensure competitive pricing.

Step 4: FAQs

Q1: Is it less expensive to renovate or build a new house?

Renovating is generally cheaper, as it avoids costs associated with new construction, such as laying foundations and building frames.

Q2: How long does it take to renovate a house?

The timeline varies based on project scope. Minor renovations may take a few weeks, while major overhauls can extend over several months.

Q3: Does homeowners insurance cover renovations?

Most policies cover rebuilds after disasters but may not cover voluntary renovations. Check with your provider before starting your project.

Q4: How can I increase my home's value through renovations?

Focus on kitchen and bathroom upgrades, energy-efficient installations, and adding living space to boost your home's value.

Q5: What permits are needed for renovations?

Permit requirements depend on your location and the project's nature. Consult local regulations or your contractor for specifics.

Conclusion

Renovating your home can be a rewarding endeavor that not only enhances your living space but also increases property value. By understanding the costs involved and planning accordingly, you can ensure your renovation project is a success. Ready to stop guessing and start estimating like a pro? Try Estimero free today at Estimero.com — your smarter way to estimate any project.