If your house no longer suits you or your family’s needs, then you have two options: buy a new house and move into it or remodel your current home. Of course, both strategies have their advantages, but remodeling is a promising avenue for those homeowners who like their current property and just don’t want to move. A home remodel simply means making your house more useful and enjoyable to live in. However, remodeling isn’t cheap, so it’s good to understand what kind of money may be involved before doing the work.
What Is The Average Cost To Remodel A House?
The average home remodeling cost to remodel a house is $48,384. Most remodeling projects, however, range between $17,697 and $79,125. Many factors contribute to the final price, including the home’s build and size, the quality of materials used, and how much labor you need. If you’re going to change the floor plan or redo plumbing and electrical, the price goes up.
House Remodeling Cost By Type
Whole House renovation costs
The average cost of a whole-house remodel ranges from $10 to $60 per square foot. Foundation repair is a significant cost factor in whole-house renovations. At the low end, that comes to at least about $25,000 for a 2,500-square-foot home. Work might include painting and landscaping and new trim, updated flooring. Cabinetry, appliances, and countertops might get replaced. But you’ll pay more for foundation repairs, total bathroom and kitchen remodels, and HVAC and roof replacements.
Gut And Remodel
A gut and remodel is a much more extensive renovation project where all surfaces are updated, along with appliances and fixtures. This frequently consists of breaching all walls down to their studs, window replacement, and plumbing and electrical replacement. The average cost to gut a home down to its studs ranges from $2,500 to $9,800. After that, you will add the cost of remodeling. This often results in an end cost of $100,000 to $200,000 for this type of renovation.
Home Addition
A house addition means adding a room or structure to your house. This is done by homeowners who want to increase the square footage of their existing homes or enhance the utilization of existing square footage. For example, you could add a bedroom or sunroom onto the side of the house or an ADU to your garage. The average cost for a home addition ranges from $22,372 to $81,164. You will have to pay the most for building a room addition since this requires changes to the basic floor plan of the house.
Historic Home
A historic home is any structure that’s at least 50 years old and meets one of the following criteria:
- It’s connected to a significant historical event.
- It’s connected to a historically significant individual.
- It embodies a particular historic style.
- It provides important historical information.
It’s challenging to take a historic home and update it to today’s safety and environmental standards. You may have to repair structural elements of the home, and you’ll need to hire licensed contractors who have experience updating historical homes. You may also have to pay for higher insurance costs. The average cost to remodel a historic home is between $100,000 and $400,000, depending on the extent of the renovations required.
Cost To Remodel A House By Room
Many people aren’t interested in remodeling their entire home and instead choose to focus on a specific room. Here’s what you can expect to pay to update different rooms in your home:
- Living Room: $5,000 – $10,000
- Bedroom: $10,000 – $15,000
- Bathroom: $3,000 – $25,000
- Kitchen: Over $6,000. A kitchen remodel can significantly increase costs, especially with the inclusion of custom cabinets.
- Garage ADU: $3,000 – $30,000
- Home Office: Over $5,000
Living Room
Remodeling a living room typically involves updating flooring, painting, and installing new light fixtures. Adding built-in bookshelves or a new fireplace can also increase costs.
Bedroom
Bedroom remodels often include new flooring, paint, and fixtures. Custom closets and built-in storage can add to the total cost.
Bathroom
Bathroom renovations can range from simple updates like new fixtures and paint to complete overhauls with new plumbing, tile, and cabinetry.
Kitchen
Kitchen remodels are among the most expensive due to the cost of appliances, cabinetry, and countertops. High-end remodels can include custom cabinetry, high-end appliances, and extensive layout changes.
It’s essential to create a detailed home renovation budget for kitchen remodels to manage costs effectively.
Garage ADU
Converting a garage into an accessory dwelling unit involves significant costs, including insulation, flooring, plumbing, and electrical work.
Home Office
Creating a functional home office can include new flooring, paint, built-in desks, and shelving, and updated electrical and lighting.
Cost To Remodel A House By Square Foot
You can expect to pay between $10 to $60 per square foot to remodel your house. Here’s the average cost to remodel a home by square footage:
- 900 sq ft: $9,000 to $54,000
- 1,000 sq ft: $10,000 to $60,000
- 1,200 sq ft: $12,000 to $72,000
- 1,500 sq ft: $15,000 to $90,000
- 1,800 sq ft: $18,000 to $108,000
- 2,000 sq ft: $20,000 to $120,000
- 2,500 sq ft: $25,000 to $150,000
Common Factors Associated With Home Remodel Costs
Labor
Labor is an essential cost to consider when remodeling a home. These costs range from $20 to $150 per hour, depending on the contractor and their experience. You may need to hire a general contractor to coordinate the project and hire subcontractors.
Materials
The cost of materials depends on what room you’re updating and whether you’re using low- or high-end materials, like vinyl vs hardwood floors or marble vs laminate countertops.
Permits
If you’re making a structural change or adding an addition, you may have to apply for a permit. Costs range from $50 to $1,800 depending on the scope of the project. In addition, you may have to hire an architect and have someone do a property survey.
Taxes
Remodeling can improve the value of your home, but that means you’ll also have to pay more in property taxes. For example, remodeling your basement can increase the assessment value of your home by $50,000. That could drive up your tax bill even if the tax rate doesn’t change.
Unforeseen Costs
With every home improvement project, there will be unexpected costs you need to plan for. It’s a good idea to add an extra 20% to your budget to account for these costs.
Type Of House
The type of house makes a big difference when it comes to the overall cost of remodeling your home. For instance, you’ll pay less money to remodel a condo or townhome. A farmhouse or historical home will cost the most to remodel.
Additional Home Remodel Costs To Consider
- Timeline and Living Arrangements: An extensive home remodeling project could take up to 6 months to complete. You may need to make different living arrangements during that time, which will add to the total cost of the project.
- Home’s Age: Renovating an older or historical home will cost more than a newer build. That’s because you may have to update the structure or major systems in the home.
- Floor Plan Changes: Altering the floor plan is considered a high-end renovation and will cost you more money. You’ll likely need to hire a structural engineer to ensure you do this reno safely.
- Foundation Repairs: Foundation and structural repairs can be important to consider when remodeling your home. This type of renovation costs between $2,159 and $7,765 on average, depending on the repairs needed. However, if extensive work is needed, it can cost upward of tens of thousands of dollars.
- Mold or Asbestos Remediation: Mold or asbestos remediation will also cost more — usually between $1,200 and $3,500.
How To Estimate Your House Remodel Costs
The best way to estimate your home project costs is by talking with an experienced contractor. This individual can evaluate the scope of your project and factor in important information like the size of your home and materials used. However, you should always receive quotes from multiple contractors so you can compare your options. It’s also a good idea to add an extra 10% to 20% to the final estimate for additional labor or unforeseen circumstances.
Ways To Save Money On House Remodeling Costs
Home remodeling projects can be costly, but there are ways to save money:
- DIY: DIYing home projects can save money. Even if you can’t DIY the entire project, you could save by doing basic tasks like replacing doors, painting, or resurfacing floors yourself.
- Multiple Quotes: Get quotes from multiple contractors. Ask for recommendations from friends and family and get at least three estimates to compare. Avoid paying for the entire project upfront and follow a payment schedule as the work is completed.
- Start Demolition Yourself: Safely doing some demolition work yourself can save on your remodel project.
- Budget-Friendly Materials: Choosing budget-friendly materials can save money.
- Floor Models: Purchasing floor models is a great way to save money on expensive appliances. These are appliances that have been on display at a retail location.
- Maximize Current Space: Renovating your current space is cheaper than building additions. Additions require changes to your home’s foundation and floor plan, which costs more.
- Avoid Moving Plumbing: Keeping the plumbing in place can save money.
- Federal Grants: Check for federal grants to help offset some home renovation costs. Requirements and eligibility vary.
- Start Small: Complete the project in stages if you don’t have the budget to do everything at once.
Financing A Home Remodel
It may make more sense to finance a home renovation rather than paying out-of-pocket. Here are some financing options:
- Home Equity Loan: Borrow from the equity you’ve built up in your home. You’ll receive a one-time lump sum payment, making it better if you know the project’s cost.
- Home Equity Line of Credit (HELOC): Like home equity loans, you receive a line of credit you can draw from as needed. Ideal if you don’t know the full cost.
- Cash-Out Refinance: Refinance your home for more than it’s worth and receive the difference in cash. However, you’ll have to pay closing costs.
- Home Improvement Loan: Apply for a home improvement loan with a bank or online lender. The benefit is that you won’t be using your home as collateral.
Conclusion
Knowing the cost of remodeling a house was integral to house renovation. The average cost to remodel a house varies to a great degree because of home size, material quality, and labor costs. This range, on the low end, goes for $17,697, and on the upper limit, it is around $79,125. High-end renovations, though, could be over $100,000. Keeping the budget under control for such remodelers requires considering multiple cost factors, discovering financing options, and using money-saving strategies. This may be in the form of updating piping and electrical work or large structure changes. Proper planning is, therefore, central to any home remodeling mission set up for success.
