The factors that go into the decision to remodel a house (as opposed to finding a new house altogether) can vary, but one of the principal factors is cost. The cost of remodeling a house will depend on which parts of the house you will choose to remodel. It’s often a good idea to plan out costs in advance, especially if you have plans to sell the house after it has been remodeled, or even if you’re planning to live in it for many more years. Knowing how much it will all cost will help you be strategic about how you go about remodeling the house.
House Size Measurements
The first factor you need to consider is size. How large is your house, or more specifically, how large is the area that needs to be remodeled? For areas that only need small repairs and new landscaping, the cost can land anywhere between 25,000 USD to 45,000 USD, whereas more complex upgrades that involve drilling into the foundation, fixing the roof or sewer lines can go as high as 75,000 USD or more.
Area of House to Remodel
Another factor that comes into play is the type of area you want remodeled. The fixtures in a master bedroom will differ greatly from the fixtures you have in the living room, and will cost more to change or upgrade. The kind of appliances you have will also affect the cost; the more high-end your appliances are, the more it will cost to fix or replace them.
The kitchen is the perfect example of this. For approximately 2,500 sq. ft, a minor kitchen remodel will start at about 10,000 USD, and climb from there, depending on the quality of materials used and how much work needs to be done. The bathroom, on the other hand, has a similar starting cost at about 9,000 USD, but for bathrooms with more fixtures (such as a steam shower), this number will naturally be higher.
Other areas that need to be considered, and whose individual expenses will add up to your total cost, are electrical updates to existing appliances, new floors and roofs, and replacing the house siding and windows. The contractor’s fee also matters. This is typically 15% of the total cost of the project. For a renovation that costs, 50,000 USD, the contractor’s fee can run anywhere from 5,000 to 7,000 USD.
How to save on Remodeling Project
One good tip is to strategize your remodeling project. Which part of the house needs to be prioritized at this stage, given your time and resources? Which part of the house needs to be fixed most urgently? A roof that is falling apart definitely takes the cake over installing a new reading nook in the den.
Another good tip is, when planning, choose a contractor well, one who has accumulated a good chunk of experience remodeling houses. This lessens the risk of having to fix new mistakes through the remodeling process. A good contractor will also have discounts on retail prices for materials, which should help lower the total cost of remodeling a house.