Home remodeling is an efficient way to transform your living. You can do it to turn your ideas into a tangible reality or simply for enhanced functionality. The possibilities are endless. However, you might be worried about the associated costs.
In this post, we’ll detail the costs of complete house remodeling. We’ll also mention the factors behind the expenses along with some FAQs.
Let’s get you started.
Cost Options For Home Remodeling Projects
Before we start, it is important to note that these costs are close estimates rather than actual costs. This is mainly because the remodeling market is shifting by the day. Moreover, every contractor has their unique price points and factors.
So, how are remodeling costs calculated?
Remodeling costs are usually calculated by two methods. These options are entirely dependent on your selection of a contractor. Some provide either of the two or both of them. Let’s have a look.
- Square Feet
The most commonly available option comes in the form of area coverage. Contractors charge based on the total square feet of your property. This is relatively cheaper than the latter option as it benefits homes from small to mid-size.
Your contractor will provide you with a detailed costing plan based on the area. Often, the final costs and even the square feet rates are negotiable. This enables you to preserve your financial budget from overspending.
- Service Packages
Another costing method that many new contractors opt for is pre-determined service packages. They create various tiers of packages with unique services and price them differently. You can pick any package that meets your demands.
Unlike the square feet method, everything is included in these packages. Bathroom remodeling costs, kitchen remodeling costs, and basement remodeling costs are incorporated in one place for your convenience.
However, this option is more suitable for large-scale homes. Since going by square feet impacts both the contractor and the owner.
Estimated Costs of Complete Home Remodeling
In this section, we’ll detail every cost for home remodeling. These costs will associated with both aforementioned costing methods.
- Cost by Square Feet
The remodeling cost by square feet is in the affordable range. However, this is only applicable for small to mid-scale homes. The square feet rates start from $20 and go all the way up to $400.
Let’s suppose your home is roughly between the 1000 – 1500 square feet range. You acquire a contractor at a rate of $150 square feet. On the high end, your total cost can come up to $225,000.
On average, the total cost of remodeling 1200 square feet ranges from $15000 to $75000. These prices vary on the services you include in your remodeling package.
Are square feet rates the same for every room?
This is where things get interesting. Not every room in your home covers the same area. Bedrooms and bathrooms have fewer square feet compared to your kitchen or your living room.
So, many contractors charge a higher rate for bigger areas in comparison to smaller ones. You can potentially remodel 2 bedrooms at the cost of a single living room.
- Cost by Service Packages
Unlike the aforementioned costs, the service packages are unique in this aspect. Every service package has a different cost. This cost depends on two factors, your contractor and the number of facilities.
Every service package is designed to target a specific aspect of your home. For example, some service packages are for aesthetics while some completely revamp your interior.
What are the tiers of these service packages?
Generally, there are three tiers of service packages that contractors offer. These tiers are labeled as low-range, mid-range, and high-end. Some contractors also offer a luxury package for bigger homes.
Moreover, these packages are specific to rooms rather than the entire home.
On average, a low-range package costs between $25000 and $35000. This includes light fixtures, painting, flooring, minor repairs, and refacing.
For the mid-range package, the prices go up to $75000. A mid-range service includes all the facilities of the low-range package along with a complete set of replacements. These replacements are for cabinets, countertops, paint, and flooring.
High-end service packages are extensive in their available options. With all the benefits of a mid-range package, you can also avail of complete redesigns, customization, and upgrades for plumbing or electrical layout.
For such packages, the overall costs can range from $100,000 to $180,000.
Crucial Factors that Determine Remodeling Costs
Now, let’s have a look at some of the important factors that contribute to the final costs of a remodeling project.
- Labor Rates
Every remodeling project has an associated labor cost. Labor rates vary based on the state of residency. Some states with cheaper living conditions have lower labor rates. While states like California have higher labor rates.
There is a base rate determined by individual states. However, contractors can charge an overhead based on availability, logistics, and expertise. In some cases, you can even negotiate this rate with your contractor.
- Type of Service
Your remodeling costs are directly related to the type of service you acquire. Some people only desire to remodel their floors while some go for a complete transformation. Every additional service increases the final cost.
We highly recommend that you finalize your requirements and demands before onboarding with a remodeling contractor.
- Material Costs
Even though materials are added to the finalized cost, they still contribute significantly. Mostly, these material costs come into play in the high-end or luxury tiers of remodeling. This is mainly because of the replacement and customization aspects.
For example, replacing your old countertops with marble can cost thousands of dollars.
- Room Characteristics
Next up is the type of room. Remodeling contractors categorize rooms under dry and wet rooms. Your bedrooms, living rooms, dining rooms, etc, fall under the dry room category. Whereas your kitchens and bathrooms are in the wet room category.
Generally, dry rooms are cheaper to remodel in comparison to wet rooms. This is mainly because wet rooms have plumbing that demands special care to handle.
- Redesigns
Another factor that contributes to the remodeling is the redesign of your interior spaces. Contractors charge extra for creating a new design for remodeling. These redesigns range from rearrangements to major modifications to the original blueprint.
Frequently Asked Questions (FAQs)
- What is the average small home remodeling cost?
A small home is usually within the 1000 to 1200 square feet range. A complete remodeling can cost you between $20000 to $45000. These prices can vary based on the extent of services.
- How long does it take to remodel a mid-scale home?
A home can take anywhere between a couple of weeks to a couple of months for remodeling. On average, remodeling takes 2 weeks up to 4-5 months. This duration depends on the extent of remodeling, availability of materials, and labor force.
- Does remodeling increase the property value?
Absolutely. A revamped property sells at a much higher rate. This is mainly because remodeling completely revamps the property and adds new materials to the majority of the projects. A new place is far more attractive to potential buyers.
Final Thoughts
With this, we come to the end of our guide on full house remodeling costs. Remodeling costs depend on various factors. Your home’s design, area, extent of remodeling, materials, and more are all contributing factors to the final cost. You can easily remodel your home in a budget of $20000 to $80000. This price range is not only affordable but also offers all the necessary services you need.
We hope this guide enables you to understand the average costs of remodeling. Let us know about your experiences with remodeling contractors.