How Much Does It Cost To Renovate A House Completely?

Although home renovations serve many useful purposes in our space—including boosting aesthetics, increasing resale value, and advancing the quality of life at our residential location—the project may cost a considerable amount and can be a huddle for most people.  For most homeowners, crafting a remodeling budget and adhering to it can be challenging. It even gets worse when the project is your first. Therefore, before coming up with a renovation budget, it helps to plan well and conduct thorough research. According to NM Design Group LLC, proper planning and research enable you to foresee and prepare for unplanned surprises during renovations.

Full Cost Of Renovating A House 

Various factors fall into the overall cost of renovating a house. Things like the age of your home, the type of renovation project you’re undertaking, your residential location, and the type of material used can dramatically vary the project’s overall cost. By square footage, the average renovation cost is $10 to $60 as per the HomeAdvisor. Other relatively important surveys sum the overall renovations costs at $13 000 per project. While some like service seeking estimate minor renovations to cost around $20 000, with the large portion covering labor, closely followed by the cost of the material.

Depending on how you want to renovate the home, renovation often falls into three categories. These are high-end, mid, and low. As the name suggests, the high-end renovation projects require classic products with high-end materials. These renovations can range from expensive installations of kitchen appliances, upgraded HVAC systems, new roofs, and quality sidings. 

Meanwhile, mid-end renovations make use of relatively cheap materials that are mid-range and often cover second homes. That can include a complete kitchen or bathroom renovation and various updates to the exteriors, like new sidings or installing masonry veneers.

On the far end, renovations that only require minor upgrades and few cosmetic updates, primarily DIY, often fall under the low-end category. Nevertheless, they are most likely to apply in starter homes. Low-end renovations can include inexpensive repairs, flow replacement, and minor lighting.

However, according to various recent reports, it’s revealed that most homeowners have resorted to the do-it-yourself model to cut renovations costs, following the commencement of Covid-19—likely as a cause of financial strains.

Ways Of Estimating The Cost Of Your Renovation Project

Estimating the cost needed for your renovation project can be challenging, especially if there are underlying factors and unexpected expenses. For example, during renovations, certain things might go wrong. Such can ultimately raise the renovation cost. For this reason, experts advise setting aside a certain amount in case something happens, thereby guaranteeing the completion of the project.

• Cost By Size

The size of the house in question is an essential consideration and considerably varies the cost of renovating a space. In essence, it is cheaper to renovate a 2-bed and 3-bathroom house than a 4-bed and 6-bathroom apartment. Overall, you can expect a range of $2500 to $4000 per square footage.

• Cost By Type Of Renovation

Renovations vary by type and extent. While renovating your house, you might only prefer minor alterations like altering various fittings and fixtures or decide to alter the whole layout. That means it’s going to cost more for the whole layout than the former. 

• Cost Of Material

The type of material you use will determine whether you will pay more for maintenance costs. While cheap materials can seem friendly during budgeting, they can considerably raise costs in the long run. Conversely, premium materials, though costly, are durable and have low costs in maintenance. 

• Contractor Fees

The cost of service from contractor X can dramatically vary from contractor Y for a similar job. As a rule of thumb, most contractors often price their services based on their reputation and experience level. In that case, working with a relatively expensive contractor can be a worthy consideration. However, on the far side, you’re also going to work with different tradespeople who might charge daily or hourly. For example, a plumber may charge an average of $414, while a category of roofers, painters, plasterers, and general builders may charge an average of $276 per day.

• Cost Of Renovating A Kitchen

The cost of renovating a kitchen is likely to be relatively high compared to other rooms in the home—given the time needed and amount of labor. Nevertheless, a considerable number of kitchen fittings and appliances are mandatory, boosting the cost even higher. That said, you can expect anything around $19 000 in your kitchen renovation project.