Standard Cost of Home Renovation

Home renovation refers to upgrading the current condition of the house. It involves minor repairs, wall paint, design upgrades, or other interior updates.

The average cost to renovate a house ranges from $15,000 to $250,000. The homeowners typically spend between $15 and $60 per square foot. The cost varies according to the project outline, the material used, structural improvements, and the city.

Let’s examine the average home renovation cost based on the size of the home.

Average Cost of Renovating a Small House

The typical cost range for renovating a small house is $16,000 to $45,000 or more. However, one can utilize budget-friendly materials to cut down the cost. In terms of per square foot, the cost range is $15 to $150.

Average Cost of Renovating a Midsize House

The typical cost range for renovating a midsize house is $20,000 to $50,000 or more. The cost can be even higher depending on the quality of the material used. The usual cost for renovating a mid-size house ranges from $200 to $400 per square foot.

Average Cost of Renovating a King-Size House

The cost range for renovating a king-size home is $45,000 to $150,000 or more. The cost range of a bigger house is $450 to $600 per square foot. Large-sized homes often require specialized architects or designers who charge higher fees.

Average Cost Per Square Foot for Renovating a House

The typical remodel cost per square foot for a house ranges from $20 to $200 per square foot. It depends on the size of the home, the project plan, and personal requirements. Cities with higher living expenses will observe higher costs.

Average Home Renovating Labor Cost

Roughly, the average labor cost for home renovation is 20% to 50% of the total cost. The average cost of labor is $25 to $200 per hour. The cost of labor varies by city. New York City, San Francisco, and San Jose, among others, have high labor costs due to their high living expenses.

Average Material Cost for Renovating a Home

The average material cost ranges from $20 to $80 per square foot. The material cost increases with the requirement of the material and quality. Therefore, one can opt for budget-friendly materials. But never compromise with material life and quality.

What Are the Factors Influencing the Home Renovation Estimation?

The cost of renovating a house changes according to different factors. These factors include the material used, labor costs, and location. The following are the factors that become essential to a renovation quote.

Material Used

The material cost has a significant impact on the overall cost of home renovation. One can opt for budget-friendly materials or premium quality materials, which are more expensive. For instance, you can choose laminate countertops instead of granite, which results in a saving of $20 to $50 per square foot.

Labor Cost

The labor cost includes wages of interior designers, architects, contractors, and other workers. Generally, 10% and 20% of the total cost is the part that plumbers and electricians change. The average hourly cost of electricians and plumbers ranges from $30 to $100, depending on several factors.

Location

The home remodeling costs vary according to the city. Some cities have higher costs due to the high cost of living. Cities like New York, Boston & Houston possess high renovation costs.

Permits

Before initiating your home renovation project, you might need a permit from your local government. Different states have different building permit charges. These charges also depend on the home renovation projects.

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Cost Breakdown in Home Renovation Quote

We now understand the breakdown of home renovation costs by different types. This will present the lucid information on the detailed information. So, when it comes to how much it costs to remodel a house? Here is the answer:

On the Basis of Area

The renovation cost of different areas depends on the type of area. Every space of the house is used for its designated purpose. Therefore, the cost of the house remodel varies accordingly. Usually, the most expensive part of a home renovation project is the kitchen remodel. The bathroom stands second after the kitchen. Here is the tabular form of the cost breakdown of each area:

On the Basis of Cities

Every city has a different cost of living. This is the reason why the renovation costs differ in every city. The national average prices of the different cities are listed below:

On the Basis of Cost per Square Foot

The cost per square foot increases with the house size. However, it also increases according to the city where the house is located. The typical cost range for a 1,000-square-foot house is $1,000 to $70,000. The house renovation cost range for various home sizes in square feet is as follows:

On the Basis of Materials

The average material cost ranges from $20 to $80 per square foot. Here, the material needs and project type play a significant role in deciding the cost. High-quality materials always cost more than regular-use materials.

Cost Breakdown of Different Areas

Living Room Renovation Cost

The average cost of a living room renovation is $12,000 to $30,000 or more. This covers the floor plan, painting, and window replacement. The cost all increases with the living space size and current market cost.

Bathroom Renovation Cost

The average bathroom renovation cost is $8,000 to $30,000 or more, which is the second most expensive part of home renovation. The complexity and electricity connection play a vital role in increasing the cost. The bathroom remodel estimate also depends on the type of bathroom being remodeled.

Kitchen Renovation Cost

The average kitchen renovation cost ranges from $5,000 to $ 100,000 per square foot. The major renovation in a kitchen is the floor plan, cabinets, lighting, sink, upgraded plumbing, and backsplash. Here is the cost breakdown as per the project scale:

Roof Renovation Cost

The average cost range for roof replacement is $7,500 to $18,000. The roof size, material, and pitch determine the cost. The most cost-effective material is asphalt shingles, while the most expensive material is stone/slate.

Basement Renovation Cost

The basement remodel cost range lies from $10,000 to $150,000. In terms of square footage, the cost is $20 to $100 per square foot. The moisture and water leakage add another cost. The basement renovation cost also depends on the particular work location and project type.

Attic Remodeling Cost

The average cost of attic remodeling ranges from $26,000 to $80,000, depending on the complexity. One can enhance the overall property value by converting an attic into a living space. The initial cost is approximately $26,000, which increases according to the project’s complexity.

Cost to Gut & Remodel a House

The average cost of a gut renovation is $80 to $200 per square foot. The average cost to gut and remodel a house is $100,000 to $250,000. This depends on the property’s square footage and age.

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Cost Breakdown of Other Buildings

Apartment Renovation Cost

The apartment renovation cost range is $30 to $66 per square foot. The renovation estimate for a one-bedroom apartment ranges from $20,000 to $50,000. Here is the complete breakdown:

Mobile Home Remodel Cost

The cost of remodeling a mobile home generally ranges between $15,000 and $35,000. The cost bifurcation of various parts of the task is listed below:

Other Charges for Home Renovation

There are additional home renovation costs that increase the overall expenditure for home renovations. Below are the listed charges you can’t miss when thinking over how much to renovate a house:

Cleaning up Debris

The removal of debris adds additional cost to remodel a house. This is because the professional will charge for the labor cost of removing the debris and disposing of the material.

Permits and Inspection Fees

The municipal permit fees are the charges you must pay to obtain permits. The local government issues these permits. The basic cosmetic updates do not incur any additional fees, but other components, such as HVAC installation, plumbing work, and bathroom remodeling, may involve extra fees. The cost range is $300 to $800, depending on the particular state.

Temporary Living Costs

Temporary living costs refer to expenses incurred during temporary living arrangements. It mostly happens during the full home renovation. In such situations, people often need to stay in hotels or other rental accommodations. It also increases additional costs due to outdoor food.

How to Estimate House Remodeling Cost?

Estimating the price of a house remodeling project requires consideration of several factors, including labor costs and material costs. Here are the steps to estimate the cost to remodel a house:

Prepare Project Scope

The project outline encompasses the entire house to be renovated. The requirements of the material and the approximate time to finish the project. It must also include the room-by-room breakdown along with the labor cost.

Measuring the Area

The next move is to measure and calculate the square footage for each area. You must calculate each area separately that needs renovation. This sets clarity in the home renovation quote.

Mention the Labor Cost and the Material Cost

Calculate the labor cost and material cost. The labor cost will vary according to the location, and the material cost will vary according to the requirement and quality. Generally, labor costs typically make up 60% to 70%, while material costs range from 30% to 40%.

Including Soft Cost

You must include the permit fees, waste disposal costs, and architect fees, among other expenses. This is particularly important because hidden costs, such as permit fees and architectural fees, are often overlooked. However, these are important to consider.

While estimating the cost, using a home remodeling estimator is the best practice. This enhances the overall process by adding speed and accuracy. Additionally, a free estimate template is a cost-effective way to create estimates.

A typical Estimate Format Looks Like:

What Are the Strategies to Reduce Home Renovation Costs?

Well, home renovation projects can drain your bank account balance due to the high investment required. Still, one can control house renovation costs & save money by following these strategies:

Compare Multiple Quotes

Never rely on one estimate. It is always better to obtain multiple quotes before finalizing one. This helps you to compare the estimates and get negotiating opportunities. A comprehensive quote should break down labor, cost, and timeline.

Choose the Right Time

You can reduce the renovation cost by choosing off-peak times, such as winter and early spring. It is because it leads to lower labor rates. Choosing such seasons also leads to project completion at a rapid rate.

Opt for Budget-Friendly Material

One can opt for a budget-friendly material, where possible, to save money. This directly impacts the overall estimate. Budget-friendly materials are helpful in cutting down the overall cost. One of the best approaches is to purchase the material at a sale or use the remnant.

Give Priority to Essential Upgrade

Always focus on the essential parts that really matter. Instead of investing in the luxurious things that don’t require, you must prioritize the parts that are useful in your daily life activities. For instance, you must prioritize the plumbing part over investing in interior decoration, which can be a costly endeavor. This strategy can save your money.

Say Yes to Reuse & Recycling

Sometimes we underestimate the importance of recycling materials, but they are a real money saver during home renovation. Windows, doors, and fixtures are subject to repair & refurbishment and don’t need a massive outlay for replacement. Thus, incorporating the reuse concept is really helpful in saving your dollars. Additionally, it also helps reduce waste.

Planning to Follow DIY Home Renovation? Here Is the Guide

How much does it cost to renovate a house? So far, we have discussed information related to hiring contractors and professionals. We now cover the information on house renovation cost with self-renovation, i.e., DIY.

The DIY option is often the most cost-effective way to reduce your home renovation costs. When you perform DIY, you save contractor fees and labor costs. Additionally, there are opportunities for recycling materials, as most of the items you bring into your home can be recycled during the renovation process.

Here are the parts where DIY is applicable:

• • Applying paint and wallpaper to the walls
  • Replacing a damaged appliance with a new appliance
  • Fixing the minor electrical faults
  • Replacing the cabinet hardware
  • Replacing the faucets & showerhead

The cost range for a whole-house renovation is $10,000 to $45,000. The cost can even go higher according to the requirements. Here is the cost breakdown:

DIY is a cost-effective approach in the renovation quote. However, one should always do it carefully. DIY has its limitations, and often, one needs the help of professionals to get the work done with care. For electrical work, HVAC, and large popular home improvement projects, you need a professional contractor.

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Moon Invoice eliminates the outdated manual estimation method that consumes time. This free estimate maker helps professionals to experience the advanced estimation process by offering the following features:

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Automation -This home renovation cost estimator offers automation that automatically calculates the total amount, including tax and applicable discounts. Thus, ensuring every estimate is accurate.

AI Quick Scan – Moon Invoice offers an AI concept that helps users create an estimate by uploading the document. Once the document is uploaded, the AI concept automatically fetches the details and generates an estimate within a minute.

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Signature Request – Requesting a signature from the customer smartly and efficiently.

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Activity Log – Monitor every action performed on the estimation through the activity log option.

Wrapping Up

Renovating your home is a necessary part of living, especially for older homes; however, estimating the cost can be quite complex. It is difficult to determine the exact cost figure of a home renovation. Various factors that we have already discussed above contribute to the cost. Whenever you prepare a renovation quote, you should include all the factors that play a vital role in the renovation.

With Moon Invoice, you can refine your estimation process. Find everything from creating a polished estimate to overall managing the estimates. Do you want to experience it? Here is the way.

FAQs on Home Renovation