Are you torn between remodeling your home or moving on to a new property? Before you decide, it’s best to calculate the cost of renovations to determine if you’ll save more by staying put. We review the typical total cost of a whole home renovation project.
Start by classifying the renovation by category:
- Low-end: Cosmetic home renovations using low-end materials that generally range from $10,000 to $50,000
- Mid-range: Includes cosmetic home renovations using mid-range materials along with kitchen, bathroom and flooring upgrades that are between $50,000 and $200,000
- High-end: includes mid-range and major renovations using high-end materials, like foundation repairs, HVAC replacement, room conversions, roof replacement, interior design and significant structural changes and cost the homeowner $200,000 (or more)
Next, estimate the total expenditures to make the desired upgrades. If the overall costs are lower, securing funding to finance your home renovations could be more sensible.
Typical Costs to Renovate a House
Below is an overview of how much you can expect to pay for renovations. Bear in mind these are just cost estimates based on averages of remodeling projects.
Designers and Architects
- Designer fees: $400 to $2,000 per room or a flat fee of 10 to 15 percent of the total renovation budget
- Architect fees: $100 to $300 per hour or a flat fee of 10 to 25 percent of the entire renovation budget
Licensing Costs
- Cost of licensing and permits: from the low hundreds to $4,000
Contractor Labor Costs
- Contractor labor costs: between 10 and 40 percent of the total renovation budget can go to a general contractor and other contractor labor costs.
Material Costs
- Material costs: vary by the scope of the renovation project.
Other Unexpected Costs
- Miscellaneous expenses: vary by the scope of the renovation project.
Average Costs to Renovate a House
Here are the average renovation costs by project type.
Cost to Renovate a Kitchen
- Low-end kitchen renovation costs: $5,000 to $25,000
- Mid-range kitchen renovation costs: $25,000 to $70,000
- High-end kitchen renovation costs: $70,000 to $130,000
Cost to Renovate a Bathroom
- Low-end bathroom renovation costs: $5,000 to $10,000
- Mid-range bathroom renovation costs: $10,000 to $20,000
- High-end bathroom renovation costs: $20,000 to $50,000
Cost to Renovate or Add a Bedroom
- Low-end bedroom renovation costs: Up to $4,000
- Mid-range bedroom renovation costs: $4,000 to $20,000
- High-end bedroom renovation costs: $20,000 to $40,000
Are you looking to add an additional bedroom to the home? You’ll likely spend between $25,000 and $80,000.
Cost to Renovate a Garage
- Low-end garage door cost: up to $800
- Mid-range garage door cost: $800 to $1,000
- High-end garage door cost: $1,000 to $1,500
Cost to Renovate the Home’s Exterior
- Paint costs: $1,500 to $4,500
- Siding costs: $10,000 to $15,000
- Roof replacement cost: $5,000 to $20,000
What to Consider When Budgeting Costs to Renovate a House
Before finalizing a budget to complete renovations, consider these factors.
Property Size
You’ll spend more on renovations depending on the square footage of your house. For example, home renovation costs will be higher for the larger areas in your home. If you’re on a budget, consider minimizing the scope of your project and limiting it to a smaller area of the property.
House Location
The property’s location also plays a role in renovation costs. For example, you’ll typically pay more for a remodel in Los Angeles, California, than you would in Dallas, Texas.
Structural Problems
If your home is riddled with structural issues, the repair costs could account for a sizable chunk of the budget.
FAQs About Renovating a House
Below are some frequently asked questions regarding home renovations.
Is It Cheaper to Renovate a House or Buy a New One?
It depends on the location, age and size of your home. You should also consider the project’s scope when determining if you’re better off purchasing a new property.
Is It Worth It to Renovate a House?
Again, it varies by the property’s location, age and size. Conduct a cost-benefit analysis to determine which approach is best for your situation.
