Creating a budget to renovate a house can often feel more like a gamble than a plan. There’s something very intimidating about all of the unknowns and surprises that might be lurking under the floorboards. On top of that, ideas might change midway or contractors’ quotes may vary.
Before you bite off more than you can chew, we’ve provided a guide that can help you crunch some numbers before diving into a project. So, how much does a renovation cost? Keep reading to find out.
Before We Begin
Let’s first get something clear: there is no perfect formula for any home renovation. Every house, style, and state is unique. So, never expect what you come up with on paper is going to perfectly translate to the real world—there are far too many factors at play!
The first step in figuring out renovation prices is to establish exactly what you want to upgrade. For some inspiration, why not click here?
A good tip is to actually overestimate your final figure. It would be wise to add 20% of your total for unexpected jobs. Now that we’ve got that out of the way, let’s get to the point.
How Much Does It Cost to Renovate a House?
The overall estimate to remodel a house can be roughly calculated using the square footage of the property. A good rule is to price each square ft at $15 for a low-end renovation and $60 for a high-end job.
Just what is involved in each type of renovation will help you to make a more detailed budget.
What Is Involved in a Low-End Renovation?
A low-end renovation involves more surface-level jobs. We would aim for between $20,000-$45,000. This would involve jobs like…
- A full paint job of the interior and exterior walls
- New flooring
- Replacing counters
- Repairing and finishing cabinets
- New landscaping
What Is Involved in a Mid-Range Renovation?
Estimated between $46,000-$75,000, mid-range renovation takes into account all of the above-mentioned tasks in the low-end project but includes…
- A full remodel of the kitchen and bathroom
- New doors
- Cladding and render to the exterior
What Is Involved in a High-End Renovation?
Estimated at $75,000 and up, high-end renovations include all of the above upgrades, plus…
- structural and layout alterations
- Roof repair or replacement
- foundational repair
- Electrical and plumbing repair
Go Forth and Conquer!
As you can see, when asking “how much does a remodel cost?”, there is no simple answer, but from here you can create a ballpark figure. The key to a successful renovation is to never underestimate your budget, time, and energy. Saying that, avoid becoming paralyzed by indecision.
Mistakes are bound to happen. You may not love 100% of your upgrades, but that doesn’t mean that it won’t be a fulfilling pursuit. To renovate a house will always be a journey into the unknown, but it’s those who dare to venture that get the reward!
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