Remodeling your home is not only an exciting venture to embark upon, it can also increase the value of your home. The cost of renovating your home will depend on several factors including the scope of the project, the materials and equipment needed to complete the project, and the hiring of a contractor to do the project.
Counting The Cost And Benefits Of Remodeling
Things to consider for your home remodel project include:
Areas to Renovate
The cost to remodel several rooms in your home will vary depending on their size, the materials you use, and the condition the room was in, to begin with. The extent of the project will determine the contractors you will need to hire to complete the project to your preferences and specifications.
Some rooms may simply need a little paint and updated flooring but, if you are going to change the layout of a room, tear down walls, or install new lighting fixtures along with plumbing upgrades, you will need to enlist the help of a trusted contractor.
Costs of Renovating
The average cost of a full kitchen remodel is around $20,000 but you can spend more or less depending on the scope of your project. For a bathroom remodeling, $5,000 seems to be the magic number for a full renovation while a laundry area can cost up to $2,000. The least expensive areas to renovate seem to be the living room area, dining room, hallway, office, and staircase. The cost of adding a family room to your home will be recouped in the sale of your house by 69.3 percent.
The features you include in your renovation project will also determine the final amount it will cost you. If you use high-end finishes and want special features, you will pay a little more than using less costly ones. Also, if you need special equipment and people who possess special skills and knowledge to do the renovations, it will cost you more money but, the results will be outstanding. Hiring a general contractor will help you to evaluate your plans and to determine if you need to hire specialized contractors such as electricians, plumbers, or carpenters. While prices will vary, features such as high-end flooring or cabinets will cost a little more than standard ones.
If you are constructing an addition to your home, such as a garage or more living space, you will need to factor in the costs of the building materials, equipment needed, and which contractors you will need to hire to complete the project.
Age of Home
The age of the home you are remodeling will matter when you start your project. You may run into things like foundation damage, rotting sub-floors, plumbing and electrical issues, or a problem with framing an area. Your contractor can help you evaluate the issues to determine if there will be costs to update certain things that you may not have considered.
Size of Your Home
Size matters when it comes to a home remodeling project. Clearly, it will cost more money to renovate a large home than it will to renovate a smaller one. Room size also factors into your project. For example, it costs less to remodel your bathroom than it will to do a complete kitchen remodel.
To renovate an entire house that is less than 1,000 square feet, you will spend around $18,000 while renovating a home that is around 2,000 square feet will cause you to shell out around $22,000. For an even larger home, you can spend up to $40,000. Keep in mind, though, that the more updated your home is, the more it will be worth if you ever decide to put it on the market.
Zoning, Codes, and Building Permits
Depending on the area in which you live, you may have to obtain a building permit for certain home renovation projects. This is where a contractor comes in handy. Your contractor has the knowledge of which permits are needed and how to update your home under the requirements of the building and zoning codes in your area. Your contractor will also provide you with the cost of the needed permits so you will not have any surprises as your project gets underway.
When you are ready to get your home remodeling or addition project started, hiring a trusted contractor in your area is imperative.