Whether you’re looking to refresh a single room or remodel your entire home, it’s important to plan ahead and budget correctly. In this article, we explore the factors that go into house remodeling costs such as labor, materials, and other services. From kitchen renovations to bathroom sprucing up – read on to find out what you can expect when estimating the cost to remodel your whole house!
Here’s What $5,000 Will Get You In A Home Remodel
The cruel truth about home remodeling is that hopes and plans probably do not suit reality. A recent survey of 1,300 U.S. homeowners by Trulia real estate search site showed that 90 percent of homeowners expect to remodel their homes at some point, but 47 percent (nearly half) of them are reluctant to invest more than $5,000 on the remodeling. A similar survey from Porch’s home improvement site finds that 69 percent of homeowners want to do a major home improvement project in the coming year, and plan to spend an average of $3,911 on those repairs and improvements; 83 percent plan to spend less than $5,000 on remodeling.
Kitchen Remodel Cost
Trulia ‘s survey “Remodeling on the Rise” reports that kitchen remodeling is the most common among homeowners planning a project anywhere. Kitchen remodels are sadly incredibly costly too.
Many people spend $25,001 to $50,000 on renovating a kitchen. A strong guideline for the budgeting kitchen renovation is to spend at least 5 percent of the value of the home on renovating the kitchen. The average U.S. home value is $226,300, so the average homeowner would like to spend $11,315 on a kitchen remodel — at least. It can be difficult to invest even that amount on a full kitchen remodel, however, given how pricy kitchen upgrades can be.
Instead of refinishing kitchen cabinets, full kitchen remodels will possibly include replacing the cabinetry. But homeowners who choose to replace them by refinishing kitchen cabinets can do so for about a third of what new cabinets could cost. The average cost for refinishing kitchen cabinets is $2,456; with the relative savings from this, compared to a $6,000 plus new collection of cabinets, a budget-savvy homeowner might also get new appliances, and still complete the kitchen remodel for less than $5,000. However, new countertops might not fit within that budget — the cost of installing a countertop average of $2,909, but factors such as kitchen size and choice of a surface may change that.
Bathroom Remodel Cost
Trulia’s survey says the second-most popular home remodeling project is a bathroom. Unfortunately, remodeling of a bathroom isn’t that much cheaper than a kitchen remodel, and average homeowners may be surprised to spend less than $5,000 on a remodel. The average national cost of remodeling a bathroom ranges between $9,000 and $15,000, depending on who you ask. (Home improvement sites like Thumbtack, Angie’s List, and HomeAdvisor give various estimates.)
Budget remodeling can cost as little as $2,000 or $3,000, but these projects risk falling out of style — or missing much-wanted features — which could affect the overall resale value of a home in the long run. Ideas for small bathroom remodel can help, while restricting a project to one or two features at a time and eliminating high-cost adjustments involving moving plumbing and doors or windows.
The cost of installing flooring nationally on average is $2,886, putting new floor installation squarely within the $5,000 range for remodeling planned by many homeowners. Of course, factors like home size, floor design, and quality of installation will lift or lower that price. It may also add to the price tag to get old flooring removed and fix any problems that removal could expose.
Cost To Paint A House
For most other rooms — think bedrooms, living room, and dining room — true refurbishment options are limited, given the average homeowner does not plan to push doors or install windows to them. A new coat of paint in those spaces will fully change the appearance and feel of a space — all at relatively low cost.
The estimated cost of painting a house’s interior is $1,750. Generally speaking, the cost of painting a single room will vary from $380 to $790, and homeowners will opt to bypass skilled painters by painting themselves and following these tips to save money on a painting job.
Another low-budget alternative is painting interior doors which is very DIY-friendly. Many wall-oriented remodeling options include installing baseboards, crown molding, many trimming, or wainscoting, both of which are fairly inexpensive (and could possibly be combined with a new paint job for an even higher-impact upgrade).
State rates for exterior paintwork are between $2,500 and $3,000.
Other Home Remodeling Ideas
Some of the most common home remodeling projects are broken down above, but with their $5,000 budget, there are countless other projects that 47 percent of homeowners can address. Porch reports homeowners to need an average of $5,000 in the survey results to repair a roof, which is an unglamorous yet worthwhile project. Many price-varying remodeling choices include installing new siding on the exterior of a house, installing new windows, adding a new air conditioning or heating system, and adding or upgrading a fireplace.
All costs of remodeling vary but carefully studying and preparing projects will identify ways of minimizing costs as much as possible. $5,000, however, won’t bring anyone the home they could dream of fully remodeled.
Home remodeling can be a costly and time-consuming process – but it doesn’t have to be! With careful planning and execution, you can keep your project on track and on budget. Are you thinking about embarking on a home remodel? What are your biggest concerns? Share them with us in the comments below or reach out to our team of experts for personalized assistance. We’re here to help make your dreams come true – without breaking the bank.
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