Once you’ve decided to remodel, create a realistic budget that’s based on your goals and financial situation. Start by researching average costs for comparable projects in your area, and factor in a 20% cushion for unexpected expenses. Be honest about what you can
afford, and prioritize your must-haves versus nice-to-haves.
Consider both short-term costs and long-term savings when making your budget. Investing in energy-efficient appliances or high-quality materials might cost more upfront, for example, but it can
lead to significan
t savings over time.
The financial aspect of home remodeling can be daunting. The average cost of a total home remodel can range from $250,000 to $650,000. However, costs can vary significan tly depending on the scope and materials involved. Kitchen remodels can range anywhere from a few hundred dollars to $25,000. On the other hand, bathroom remodels can trend upwards of $10,000.
Photo via @aprealtyteam bathroom remodeling continues to be among the top home improvements for resale value! with an average renovation cost ranging around $6,600 to $17,000 , remodeling your bathroom carries a higher price tag but also higher roi, as most homeowners recoup around two-thirds of their investment. While your first instinct might be to go with a luxury bathroom, opting for mid-range updates like new vanities, plumbing, and tile can often see a higher return value than upscale bathroom remodels. Looking for budget-friendly bathroom renovation ideas ? try minor projects like repainting cabinets, maximizing natural lighting, and updating bathroom hardware, like fiberglass showers or corner tubs.
What Is the Average 2024 Cost to Remodel a Half Bathroom?
Another thing that first-time homeowners must do when planning to renovate a newly purchased home is count the costs.
Some rooms are more expensive than others to remodel, for instance. If a house needs a complete kitchen makeover, you can
expect to pay around $14,000, while if it needs a master bathroom renovation, the cost drops to about $8,000. These are the most expensive rooms in a home to remodel, so if the home needs renovation here, make sure the purchase price accounts for these additional costs.
The average cost of a whole-home remodel is $48,600. This average is based on costs that start at about $17,700 and range up to $79,400. In general, expect to spend about $10 to $150 per square foot to remodel your entire house. Because more plumbing and electrical work is involved, bathrooms, kitchens, and laundry rooms tend to be more expensive to remodel than bedrooms, living rooms, and office space. Here's a breakdown of the average costs to remodel each room during a whole house remodel: bathroom: $6,700 to $28,000 kitchen: $14,600 to $40,000 laundry room (utility): $6,000
before talking to any contractor, homeowners will need to decide on a budget for the project. A small project, such as having a room repainted or having old wallpaper stripped and installing new wallpaper, will be less expensive than adding an addition to a house or gutting the kitchen and then installing a brand-new one, complete with new cabinets, top-of-the-line appliances, and quartz countertops. The cost to remodel a basement will be higher if the existing basement is completely unfinished, whereas remodeling a finished basement will likely cost less. Homeowners can find many online renovation and remodeling calculators that will give them a good ballpark idea of the cost of their desired project.