Home renovations can be a great way to add value to your property and make it feel like new again. But one of the most common questions we get from prospective clients is “How much will it cost?” The answer unfortunately is not as simple as a single number. There are a lot of factors that go into determining the cost of a home renovation, including the size of the project, the materials being used, the current state of your home and more. We’ll break down some of the main costs associated with home renovations so you can get a better understanding of what you can expect to pay.
Labor Cost
One of the biggest costs associated with any home renovation is labor. The cost of labor will vary depending on the size and scope of your project. You can expect to pay between $50 and $100 per hour for skilled tradespeople such as electricians, plumbers, carpenters, etc. If you’re doing a DIY renovation, you won’t have to worry about paying for labor, but you will need to factor in the cost of your time (which is worth money too!).
Material Costs
Another big cost associated with home renovations is materials. The cost of materials will again vary depending on the size and scope of your project, but there are some general principles you can follow to keep costs down. First, try to reuse as many materials as possible from your existing home. For example, if you’re tearing out an old kitchen countertop, see if you can use it in another part of your house instead of buying new material. Second, buy materials in bulk when possible to get discounts from suppliers. Finally, try to source materials second-hand whenever possible. You’d be surprised how much money you can save by shopping at thrift stores or online classifieds websites. If you do need to by supplies or equipment new from home improvement retail store, here is a general range of what you can expect to spend:
- Paint: $30-$50 per gallon
- Flooring: $2-$5 per square foot (depending on the type of flooring)
- Carpeting: $5-$10 per square foot
- Windows: $200-$700 per window
- Doors: $100-$400 per door
- Wastewater Treatment Systems: $3,000-$10,000+ (depending on the size and complexity of the system)
- Roofing: $5,000-$10,000 (depending on the size and pitch of the roof)
- Siding: $5,000-$10,000 (depending on the type and amount of siding)
- Insulation: $1,500-$4,500 (depending on the type and amount of insulation)
- Air Conditioning Units: $3,000-$7,500 (depending on the type and size of unit)
Permits and Inspections
Depending on the type of renovation you’re doing, you may also need to factor in the cost of permits and inspections. For example, if you’re doing any work on your home’s electrical or plumbing systems, you’ll need to get the appropriate permits from your city or town before starting work. These permits typically cost between $50 and $200 depending on the municipality. You’ll also need to factor in the cost of any necessary inspections which are usually around $100.
As you can see, there are a lot of factors that go into determining the cost of a home renovation. In general terms, most home renovations will fall somewhere between $10,000 and $50,000 but the best way to get an accurate estimate for your project is to speak with a qualified contractor who can assess your specific needs and give you a detailed quote. If you’re planning a home renovation, give Avid Contractors a call at 833-GET-AVID. We will provide you a free estimate of what your renovation project will cost.