How Much Will My Remodeling Project Cost Me?:
The cost of your home remodeling project will largely depend on the project that you are taking under is. For example, if you want to do a full home renovation, HomeAdvisor.com states that it will largely depend on the size of your home. The average remodel for a home under 1000 square feet was said to be around $18,347 (on the very low end) while a remodel for a 3000 to 4000 square foot home was said to cost an average of $36,121 (on the very low end) to remodel.
In some areas, you can expect to pay $20,000 to $60,000 for a remodeled kitchen and about $20,000 to $60,000 to start remodeling a new bathroom. Some areas might be less expensive and other areas can cost you even more than the aforementioned prices.
Other remodeling projects such as a bathroom or kitchen remodel can cost different amounts of money to remodel depending on the extent of the remodel, the size of the room, and if you choose to do a lot of labor yourself or hire someone in to do that work. The following are ten things that you want to keep in mind when determining how much your specific remodel project will cost:
Size of the Home:
In most cases, the larger the home, the more it will cost to remodel. Most remodels in your area have an average cost per square foot of space getting renovated. The more square footage, the more money you will likely spend.
Supplies You Will Need For the Renovation:
You will have to purchase the actual materials or supplies that you will need to complete the job. The cost of supplies can vary greatly depending on the project at hand. For example, a lot of the supplies needed for a kitchen or bathroom renovation (i.e., countertops, sinks, appliances, etc.) can cost a lot more than the supplies required to renovate a living room or bedroom. Knowing what supplies you need and their cost will help you plan how much you will spend on supplies.
Permits for Your Remodel:
Specific projects that you may want to complete will require permits for you to be able to begin them. These permits are most common for projects that involve adding on to your home (for extra square footage). When adding to the structure of your current home or significantly changing the outside look of your home, you may need to get permits that could cost anywhere from a few $100 to a few $1000 depending on where you live and what the requirements in your area are. It’s your responsibility to understand these permit requirements and fully comply with them while remodeling or you may face very steep fines from the city or township that you reside.
Consider Who Will Do the Labor:
If you are proficient in construction, doing a lot of the work yourself can save you a lot of costs in labor. Otherwise, hiring someone who has gotten trained in the sort of job you wish to have performed might be the best way to go despite the additional cost. Understanding what your labor costs will help you stay on budget while completing your project.
Consider the Cost of Utility Work:
If you need to rework electric or plumbing structures, this can add to the cost of your overall project. You have to meet building codes in your renovation, and many times this requires you to do some utility work to meet those standards. Account for that in the cost of your project.
The Purchase of Appliances:
If you are remodeling your kitchen, laundry room, or other rooms where appliances are needing updating, purchasing new ones will add to the cost of your renovation. Appliances can get rather expensive, especially when you need a new washer, dryer, refrigerator, microwave, oven, etc.. If your older appliances work and are safe, then you may consider saving up and replacing one appliance at a time as you can afford it to make the cost of your remodel more affordable.
Be Prepared to Discover More Structural Issue:
If you live in an older home and you are stripping down or gutting out, you might find additional issues with the structure or the electric or plumbing work in an older home. Be sure to account for this possibility and understand that fixing most serious problems now can save you a lot more money and also issues in the future when those problems get worse.
Finishes (How High End You Choose to Go):
Many finishes that you want to add to space can add up to quite a big bill rather quickly. Choosing between higher-end finishes and more affordable ones can be the difference between making or breaking your renovation budget. Be reasonable when it comes to finishes such as doorknobs, cabinet handles, lighting fixtures, etc. these items can get very expensive, so if you’re on a budget consider function over flash and looks, or find something that meets you in the middle.
Furniture For New Spaces:
When renovating a new space, often you will want to buy new furniture to fit into that space. Consider your budget for furniture and how much it will add to your budget. Durable, reliable furniture is more important to many renovations than finding something flashy but poorly made that will need to get replaced in a couple of years.
Miscellaneous Items You Will Need:
When many people account for supplies, they need to do their renovation they may overlook the costs of the little stuff. Items such as screws, nuts, bolts, etc. and tools you have to purchase that you don’t own can add to the cost of your renovations. Be sure to be “thrifty” where at all possible. If you need a tool just for a few days, renting may save you money. Alternatively, ask a friend to borrow a tool for a few days. These little “extra” items can add up and cost you a lot more than you expected when renovating.
These are ten key factors that will play into your renovation costs. Keeping costs in line is vital to being able to afford your renovation and to get the most out of your hard-earned money. Costs vary greatly on a project depending on the scope of it and how much work your space will need. However, taking these suggestions into consideration ought to give you an excellent starting point for your upcoming renovations.
MGM Home Remodeling Can Help:
For your latest remodeling needs, please be sure to contact us at MGM Home Management for further assistance. Your comments are welcome. To ask questions or get more information about remodeling, click here to email me directly, or call 512-763-2570 If you or someone you know is considering remodeling or want to speak to a trustworthy remodeling contractor, please contact me. You’ll be glad you did.
Remember, I am on your side and am here to help you with your home renovation needs along the way!