As the COVID-19 threat has reduced, people are restarting their lives and trying to bring positivity into their lives. One of the things people are doing more of is remodeling or renovating their homes to bring in the new and get rid of the old. Also, as work from home has become the new norm, more and more people renovate their homes to get the right vibes. If you are also planning to renovate your home, you should know a home renovation can cost tens of thousands of dollars. To help you, experts have shared ways to prepare and save.
The Estimated Costs
According to estimates, the average cost to
remodel a house could be $19,800 or $73,200, depending on the size of the
house, the extent of the renovation, and the quality of materials or appliances
you want to add. Whole house renovations might cost $15 to $60 per square foot
on average. In contrast, only remodeling a kitchen or bathroom, which many
people prefer, can cost as high as $100 to $250 per square foot.
According to the area, the average
renovation cost for the whole house (low-end) can cost from$15,000 to $40,000,
the average renovation cost for the whole house (mid-range) can cost from $40,000
to $75,000, and the average renovation cost for the whole house (high-end) can
cost somewhere between $75,000 – $200,000.
The costs can vary considerably if structural
changes are made to the layout or unforeseen damages occur.
How to Save Money on Home Renovation-
Some Simple Tips
Ø Get an Accurate Cost Estimate
Before starting a home renovation project,
you need to get an accurate cost estimate. Talk to all the vendors and
suppliers to know what product/service will cost and what amount, and tell them
to give you an accurate estimate without any hidden charges. It will help you
to ensure everything fits into your budget.
Ø Remember Every Fee
When setting a budget, you need to make a
list of all the fees you will pay in the future. It includes but is not limited
to compliance fees, architectural
fees, and many others. You can talk to the project manager about all these
fees before you begin the project.
Ø Expect Delays
Prepare a renovation calendar and make sure
that you leave some room for delays in the project. In the current situation,
some of the workers might get COVID-19 and need to take a few days off. So, it
would help if you were prepared for that.
Ø Don’t Change the Plans Too Much
Many people change their minds halfway
through a renovation project, which drives up the costs. So, it’s better to
plan everything and re-think every decision before a plan is executed or the
project begins. When you need to change something, make sure you discuss the
added time and costs so that you don’t get shocked when the prices shoot up or
there are a few days’ delays.
Sources:
https://time.com/nextadvisor/loans/home-equity/average-cost-home-renovation/
https://www.homeadvisor.com/cost/additions-and-remodels/remodel-multiple-rooms/
https://homeguide.com/costs/house-remodeling-cost