Remodeling your home can increase your home’s value, but it can be overwhelming and costly. There are a lot of factors to consider before you begin undertaking this project.
The financial cost is the biggest consideration and is critical to ensure you can afford the makeover. To help you estimate your home remodeling costs, this is everything you need to know.
Average Home Remodeling Costs
The average home remodeling costs depend on the size of your home. For a 1,000 square foot home, the average cost is around $19,000. But, for larger homes ranging from 3,000-4,000 square feet, the cost can be as high as $87,500.
Costs tend to increase for every additional square foot.
Older homes will also cost more because of complications with plumbing and wiring.
To estimate the remodeling costs of your home, it’s best to break it down by room. Options to consider are whether you’ll be remodeling the bathroom, kitchen, home office, garage, and bedrooms.
You’ll also want to think about door replacements, interior and exterior painting, AC replacement, window replacement, and removing any popcorn ceilings.
Factors that will affect your cost include the size of the room and the type of renovation. For example, are you adding more square footage to the home, remodeling an existing space, or expanding an existing room?
What is the scope of the project? Are you doing cosmetic changes or a typical renovation? Are you looking for a budget-friendly finish, mid-range, or high-range finish?
Keep in mind that your location can also factor into your costs.
The help you estimate your specific costs, consider using a home remodeling costs estimator. There is a lot of different remodeling estimating software to choose from. View here for information on how these software estimates work.
Tips to Save Money on Your Remodeling Project
There are a few ways you can save money on your remodeling costs that can help cushion costs. First, try and complete the demolition yourself. Though you can hire a company to do this for you, it’ll be cheaper if you do it yourself.
You can also do your own painting. Depending on how many rooms you need to be painted, it can cost several hundred dollars for professionals to paint for you.
Shopping around for lightly used appliances and finishes can also help you save money.
Now You Know How to Budget for Your Home Remodeling Costs
This is everything you need to know when it comes to estimating your home remodeling costs. Be sure you detail the costs of each project in your home and budget appropriately. These costs can add up, and the last thing you want to do is overspend and put yourself in debt.
By estimating your costs as closely as possible, you’ll limit surprises and ensure you’re covered.
So, why wait? Start budgeting for your home remodeling project today!
And for more financial advice, be sure to check out the rest of our blog. We have a bunch of other helpful articles that you’ll love!