Whether it is due to old age, serious damage, or being outdated, you will need to renovate your home at some point. That means taking on home renovation costs.
You probably know that remodeling a home is expensive, but are you aware of how pricey it could potentially be? It is important to know exactly how much that project will cost so you can prepare yourself adequately.
Reading up on home renovation costs beforehand will also let you know what you can afford. You can check if a whole-house renovation is an option. If it is not, you can still focus on renovating certain rooms for now.
Find out how much you will need to pay for your home renovation project by continuing with this article.
Hiring a General Contractor
What is the first thing you should do if you are planning to renovate your home? Securing the necessary permits should be high on your list of priorities. You can say the same thing about determining your renovation plans.
Still, there is something you need to do before all of that. The first step of your home renovation project must involve hiring a general contractor.
The general contractor is the person who will manage your renovation project. Submit your renovation plans to your general contractor so they can focus on executing them.
General contractors will supply you with the workers you need to complete your project. They can even find and hire subcontractors if doing so is needed for the renovations you have in mind.
Hiring an architect can help you map out your home renovation better but doing so is not an absolute must. You cannot say the same thing about the general contractor. The general contractor’s presence is necessary because you need someone who can oversee the project while you tend to other matters.
So, how much will hiring a general contractor cost you? According to Thumbtack, the average cost of hiring a general contractor is $1,500. However, you should not be surprised if you end up spending way more or less than that.
Remodeling a kitchen may cost as much as $50,000. Meanwhile, bathroom remodels are more affordable as they tend to top out at $11,500.
You can also find general contractors who charge by the hour, but they are rare. They may not even be around in your area.
Next up, you need to know how much you are paying for labor. You can ask your general contractor about this since they are likely bringing their own people.
The good news is that this number is usually on the low side.
On average, the hourly rate for a laborer is $20. Of course, you will probably need to hire more than a few workers, so you can expect costs to climb quickly.
Consult with your contractor regarding how many laborers you need to hire. Limiting the number of laborers is not always the right option. Failing to hire enough laborers could lead to the renovations dragging on, and you do not want that.
Try to strike the right balance so you do not need to pay too much, but the project can still be completed on time.
Next up, your list of home renovation costs should also account for subcontractor fees.
Subcontractors you may need to hire depending on your desired renovations include plumbers, electricians, and landscapers. For decorating your renovated home, you may also need the services of tile setters and painters.
To make things easier, check out the table below to identify the costs related to specific subcontractors.
|Subcontractor Type||Average Hourly Rate|
You may need more subcontractors beyond the ones we included in the table above. Finding them should be easy as long as you partner with a general contractor. General contractors have connections to skilled workers, so they can probably get you in touch with the people you need.
Now that you have the labor costs sorted out, you can turn your attention to other expenses related to home renovation. Permits are among those expenses.
General contractors will not work on your home until you secure the needed permits. Working on your home without those permits can also land you in trouble with the law.
How much you will spend on the permits will depend on the renovations you are planning.
Do you need to demolish something before the renovations? In that case, Home Advisor notes that you will need to pay $200 for a demolition permit.
Construction permits may also be issued for home remodeling projections. You will need a construction permit to renovate your kitchen or change your floor plan. If you need to fix something wrong with your ceiling, a construction permit will also be required.
The price range for construction permits can be quite wide. They may cost as little as $150 or as much as $2,000.
A permit will also be required if you want to renovate your bathroom. The average cost of a bathroom renovation permit is $1,100. Expect the price to increase if you also need to tinker with your plumbing.
The permit for renovating your basement also costs an average of $1,100. Whether or not you will pay something close to that amount will depend on additional permits that may be needed. In this case, additional plumbing and electrical permits may be required before the workers can start remodeling your basement.
Another thing we want to note is that your general contractor can handle the task of permit acquisition. They have connections, so it is convenient to leave that to them.
Cost of Whole House Renovation
Remodeling your whole house is going to be expensive.
Even on the low end, home renovation still costs a lot of money. The low estimate for whole house renovation is $35,000.
If the quote you are given is in that neighborhood, that probably means you are paying for repairs more than anything. Updating some old fixtures may also be included in that estimate.
There is nothing wrong with doing the bare minimum for your whole house renovation. You may still like your home as-is, so changing its layout and design may not be something you are interested in. A few necessary upgrades and repairs can work wonders for a home, and they are well worth the money.
The average estimate for whole house repair is $90,000.
Paying $90,000 for home renovation costs means you are getting a lot of work done. Beyond the repairs and upgrades, you can also redesign some parts of your home for that amount of money. Remodeling your kitchen and redesigning your outdoor landscape will get you close to that total.
On the high end, whole house renovation may cost as much as $160,000. At that point, you are paying for a complete overhaul of your home. You are probably getting your floor plan changed and integrating numerous upgrades.
Also, the cost of renovation will change based on the type of home you have.
Renovating an apartment is relatively affordable, and the same goes for row houses. Move up to a farmhouse, and the costs start to climb. Townhouse renovations also so cost a lot of money.
You can also expect to pay more in renovation expenses if your home features a traditional design.
Cost of Kitchen Renovation
Whole house renovation costs a ton of money. Do not feel pressured to pay for it if you only want to update certain parts of your home. To go room by room when it comes to renovation is always an option.
Let’s start with kitchen renovation. The average cost of kitchen renovation is $28,000.
Remodeling your kitchen is more expensive than renovating other parts of your home because of all the work that the renovation entails.
The plumbing and the wiring inside the kitchen may need repairing. You will also pay more if you want to change the layout of your kitchen. Whether you are adding some islands or opening up your kitchen, doing so will cost extra.
Some of the tiles you have installed may also be badly damaged. Replacing them will tack on more dollars to your final bill.
When homeowners sign up for kitchen remodeling, many want to change some fixtures. Examples of kitchen fixtures that they update during remodeling include the sinks, the countertops, and the cabinets.
It is easy to see how the cost of kitchen remodeling can quickly get out of hand. Work closely with your contractor to know what your remodeling project will include.
Cost of Bathroom Renovation
Next up, you can also opt to only remodel your bathroom. Doing so will cost an average of $20,000.
Like remodeling a kitchen, renovating your bathroom may also involve some plumbing and electrical work. Bringing in the subcontractors to handle those issues will raise your bill substantially.
You can again pay to change existing fixtures like the tiles, countertops, and sinks. Even your shower can benefit from a long-overdue upgrade.
Bathroom remodels become expensive if you want to add new fixtures. Adding a bathtub or a sauna sounds like a good idea, but you should consider how much they cost first.
Since you are renovating your bathroom, you can also take this opportunity to swap out your old fixtures. Replace your toilet, showerhead, and faucets with low-flow alternatives.
Paying for new bathroom fixtures may not be that appealing but doing so will be beneficial long-term. The low-flow fixtures will pay for themselves not long after installation. You will notice that when you see a significant decrease in your water bills.
Cost of Living Room and Bedroom Renovation
Your living room and bedroom can also benefit from some upgrades. We are combining them here because renovation costs for those two types of rooms are pretty similar. The average cost of renovating a living room or bedroom is $3,500.
As you can see, the cost of renovating a living room or bedroom is relatively affordable. It is lower than the costs attached to the other parts of the home we have already discussed.
Living room and bedroom renovations cost less because you do not need to worry about plumbing and replacing too many fixtures. Repainting the walls and making some minor repairs may already suffice.
Rearranging your living room or bedroom is also worth considering, but that will not cost much. You may only need to move some pieces of furniture around to completely change the look and feel of the room in question. That is an easy task for the workers you hired.
Additional Cost Factors for Home Renovation
We have already detailed several factors that can affect your home renovation expenses. Even so, we have not discussed all of them yet.
Let’s use this section to talk about some of the other cost factors that will affect the final cost of home remodeling.
The materials used in your home renovation project are major cost factors.
To keep costs low, you should try to use locally sourced materials. They are more affordable since the delivery cost is low.
You should also consider using recycled materials whenever possible. Apart from being affordable, those recycled materials are also sustainable. You can minimize the adverse environmental impact your project will have by using recycled goods.
Location of Your Home
Cost of living expenses plays a huge role in determining labor costs. Typically, workers in areas with a high cost of living expenses also charge more for their services.
You cannot do much about your home address affecting how much you will spend on remodeling. Still, it is an important thing to keep in mind.
Condition of Your Home
Lastly, the condition of your home will affect how much you will pay for renovations. Hopefully, you can renovate your home while the damage it has sustained is still minimal. Once your home deteriorates past a certain point, repairs will be more costly.
It is better to administer repairs as soon as you can. Developing that habit will allow your home to stay in good condition longer, and it will also lower the cost of renovation.
Home renovation can be a costly and stressful undertaking, but it does not need to be that way. Partner with us at Eco Minded Solutions and let us help with those renovations. Contact us today if you are interested in upgrading your home!
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