So you’ve been thinking of remodeling your home, but haven’t moved much further than that stage because you’re unsure of the cost? To help you get ready to get moving on those big plans of yours we’ve gathered the best information to help you answer the question: How Much Does Home Remodeling Cost?
Here’s what you should know about the numbers.
The Cost of Home Remodeling
There are some areas of your home that can be incredibly expensive to renovate, and others that can be done with a minimal investment. Of course, specific numbers can be difficult to estimate simply due to the wide-ranging factors that can affect your costs.
Some cost affecting factors will include size and scope of the project, regional location, the specific contractor used, as well as, materials and finishes chosen. Here are some of the most common areas of your home that you may be thinking of remodeling.
Kitchens are often the hub of the home, and the first on a homeowners mind when thinking about starting a renovation. Major kitchen renovations can have a budget of $50,000 or more, depending on appliances and materials chosen. For smaller projects, it’s wise to imagine an initial budget starting around $10,000.
Bathrooms are another area that can get wildly expensive to remodel if you aren’t mindful of the budget. Depending on finishing and material choices, as well as, any additional features like a steam shower, your costs can range from $9,000 to as much as $20,000 or more.
Installing new flooring is the perfect project to give your home the look it deserves. If you are considering new wood flooring, you should expect your project to range anywhere from $2,500 – $4,500 or more. Wood flooring will be more expensive than laminate alternatives.
Your home’s electrical system and its integrity are essential to the safety, well-being, and overall comfort of your family and home. While this isn’t the most glamorous renovation project, it is necessary- and a wise investment. Depending on the size of your home, and complexity of the project, you can expect to spend anywhere from $3,000 to as much as $5,000 or more.
The contractor you choose for your home remodeling project should also factor into your budget. A general contractor will supervise and oversee your entire project, leaving you to place your focus on what matters most day to day. General contractors will typically charge 10% – 15% of the total budget to handle your home remodel.