The average home renovation cost in the U.S. is often in the mid-$40,000 range. Yet, the price to renovate a home can differ significantly based on the project scope, the quality of renovating materials utilized, and the size and location of the house. On the low end, some homeowners can spend just a few thousand dollars, whereas, on the other side of the scale, home renovation costs can reach more than $20,000.
Home Renovation Costs Per Square Foot
Knowing the home renovation costs by square foot can be helpful because the house’s size can significantly impact the overall cost of renovating a house. A house renovation or remodeling costs $10 to $150 per square foot.
Nonetheless, some rooms’ renovation costs per square foot are often higher. For example, renovating a kitchen or bathroom costs between $199 and $250 per square foot. The higher costs are due to labor and material requirements for electrical and plumbing work.
Home Renovation Costs by Rooms
When it involves home renovation costs, not all rooms are made equally. Kitchens and bathrooms are the two examples of rooms with appliances and cabinets that are typically the most expensive and are frequently where a home renovation budget can go astray.
The average renovation costs of a kitchen usually range from $13,379 to $38,6420, with $25,899, or almost $150 per square foot. But kitchen renovation costs may vary depending on the cabinet, appliances, finishes, and other amenities.
The cost and accessibility of materials, the amount of work required, and the location of the house can all significantly impact your home renovation budget because a kitchen may be highly configurable and include so many levels of finishing.
Making the renovation budget for the bathroom is similar to that of kitchen renovations. Bathroom renovation costs typically range from $6,1618 to $16,657, and $11,229 being the average. Yet, the budget covers several projects, additions, and functions.
On the lower end, a brand-new bathroom costs about $400. However, if you want a high-quality tub, you may have to pay more than $8,000. The price of a washbasin can range between $190 to $6500, and the cost of a toilet can range from $130 to $800.
Making a budget for a bedroom renovation can be a little easier because it often doesn’t need as many expensive fixtures as kitchen and bathroom renovations might require. On average, a bedroom renovation will cost $8,215.
Typically, a bedroom renovation indicates replacing the windows, doors, and carpets and updating the molding or trim. A bedroom renovation can also involve new insulation, wiring, heating, and lighting.
As a main suite often combines a bedroom renovation, the cost of a main suite renovation may be a little more. The cost to install or enlarge a wardrobe in the main suite, in addition to the bedroom and bathroom, is estimated to be roughly $2,940.
Living Room Renovation
A living room renovation can be less expensive than renovating a bedroom. Living room renovations generally cost between $4,000 to $10,000. Living room renovations typically lack the wet elements like appliances and plumbing that can increase the renovation costs of a kitchen, bathroom, or bedroom.
Expect to pay a little more to include a fireplace amenity in your living room. The cost of a fireplace feature per room may reach $5,000.
The home renovation also includes updating the facade and the roof. The current average cost to replace a roof in the U.S. is $7,211. However, this cost will vary depending on the quality of materials used and the size of the home.
A home’s new siding can cost between $4,300 to $15,000, with the average price again varying depending on the material used. Painting a home’s exterior costs range from $1,800 to $4,400.
How to cut costs on home renovation?
One approach to cutting down costs on home renovation is to perform demolition tasks yourself if you have the time and the necessary tools. When renovating your home, performing your demolition work will save you a ton of money on labor costs compared to hiring a professional.
Use the appropriate safety tools, and make sure to do so safely. But there are several areas where you shouldn’t skimp. Leave challenging projects such as electrical wiring, plumbing, HVAC, countertops, and flooring in places that must be waterproof to the professionals unless you have extensive contracting expertise. Instead, concentrate on lower-risk tasks like painting, little landscaping, and updating hardware like faucets and light fixtures.
Moreover, be careful not to choose cheap contractors unless you are 100 percent satisfied with them for the work you can’t do yourself. Working with someone you know and who will provide support is crucial because the home renovation process may sometimes be drawn out and difficult. Being patient and empathetic with your contractor is essential because projects frequently take longer and may cost more than expected.
A professional home renovation crew will consider your requirements and budgetary concerns.
How to Estimate a Home Renovation Cost
Talk with a local contractor for the best advice on estimating home renovation costs. To receive several distinct quotes to choose from, you might get in touch with a few. Next, you should consider adding an additional 10% to that amount to cover any unforeseen costs or other surprises.