A Home Renovation Can Cost Tens of Thousands of Dollars- Experts Share Ways to Prepare and Save

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.







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