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Typical Renovation Costs: A Room-by-Room Guide

Typical Renovation Costs: A Room-by-Room Guide

By Shannon Wells

 

Are you itching to remodel, but not sure if the bathroom of your dreams could fit the budget? Or, are you about to make an offer on a fixer-upper and want to know how much to set aside? When it comes to homeownership, there’s always a project to plan. Researching typical renovation costs is a smart first step. To help your project run smoothly, we’ve created Room-by-Room Home Repair and Remodel Cost Guide.

  1. Bathrooms

In bathroom renovations, the best indicator of your expected costs is the type of bathroom you’re updating. As you might expect, costs vary widely among powder rooms, full baths and master bathrooms. That said, a powder room is a smart place to renovate if you’re looking for a high-impact, low-cost project. Because less labor and materials are required, you can completely renovate your powder room for as little as $700. Even if you opt to hire a professional, you can easily keep costs under $2,000.

The price tag to completely remodel a full bathroom can range from $20,000 to $30,000, depending on materials and where you live. A complete renovation may include a new tub or shower, vanity, toilet and cabinetry as wells as updated tile, flooring and lighting. The most expensive features are usually the tub and cabinetry. Costs for a master bath usually run higher than a guest or shared children’s bathroom.

Bottom Line: Expect $75 to $100 per square foot for a DIY remodel and $225 per square foot if you hire a professional.

  1. Kitchens

A kitchen upgrade is often viewed as something more than just a home renovation, as it can change the way your household operates on a day-to-day basis. To complete a minor kitchen remodel, homeowners typically spend around $20,000. This price tag may include installing new tile and countertops, re-facing cabinets and updating appliances. A minor remodel is usually recommended if you plan to sell your home soon, because it offers the best return on investment.

If you’ve decided to change your kitchen floorplan, you’ll be looking at a considerably more expensive project. A total overhaul of your kitchen can run anywhere from $40,000 to $125,000, with cabinetry, appliances and installation making up nearly half the costs.

Bottom Line: For a mid-range kitchen remodel, expect to pay $250 per square foot. For a complete rehab with high-end materials and fixtures, plan for costs of around $300 per square foot.  

  1. Living Rooms

Without the tougher tasks of plumbing and tile work, or expensive items such as appliances and tubs, living rooms make for more affordable renovation projects. For a full renovation, homeowners pay, on average, between $6,000 and $8,000. The priciest projects are fireplace installations and custom built-in shelving, each of which can cost between $2,000 and $5,000. On the opposite end, flooring and paint updates are relatively inexpensive though still high-impact updates.

Bottom Line: For a living room remodel, budget between $100 and 200 per square foot.

  1. Bedrooms

As your family’s size changes, you may find yourself in need of more or fewer bedrooms. Whether you’re adding a kid’s room, a guest room or turning a bedroom into a home office, the costs of bedroom renovations can vary widely, with an average cost of $5,300. If you’re replacing windows and flooring, put aside $300 to 700 per window and $300 to 500 for flooring.

Bottom Line: For a personal quarters update, $66 to 125 per square foot is typical.

  1. Basements

Ranked as one of the best home improvement projects in terms of return on investment, a basement remodel can add tremendous living space and value to your home. Because the work can be extensive, basement renovations are often costly. To finish a raw space can cost up to $20,000 and may require framing, waterproofing and electrical work. The cost to update an already roughed-in room is around $6,500.

Bottom Line: For simple updates, typical renovation costs run around $25 per square foot. For more extensive renovations, budget $90 per square foot.

  1. Outdoor Spaces

A screened-in porch or deck can provide welcome additional living space during temperate months and be a family favorite on those warm summer evenings. Outdoor spaces also offer good value when it comes time to sell, with decks netting an 83% ROI. Sprucing up your outdoor space can cost between $10,000 and $20,000.

Bottom Line: To enclose an existing outdoor space, budget $7 per square foot. To build a new deck, your costs will run between $15 and $35 per square foot, depending on materials.

No matter what room you renovate next, a good rule of thumb is to plan for overages of from 20 to 30 percent. Help your project run smoothly by preparing for the unexpected. This makes it easier to deal with any bumps along the way.

 

Shannon Wells is a freelance writer. When she isn’t helping her clients grow their businesses, she writes about healthy food and home improvement. You can find her on LinkedIn.