What will it cost?
When considering a renovation project, the first question most people ask us is,
"What will it cost?" We've put together a list of average costs for a variety of
remodeling projects. As with every rule of thumb, there are always exceptions. But
if you are considering a new living space, we hope these estimates will help you
develop a realistic budget.
Note that kitchens and bathroom additions tend to entail substantial modifications
of existing spaces. This usually skews the square foot costs.
Addition (family room type)
|
$200 to $300 per square foot
|
Kitchen Upgrade
|
$20,000 to $80,000
|
Kitchen Remodel
|
$50,000 to $120,000
|
Bathroom (upgrade to moderate)
|
$20,000 to $40,000
|
Bathroom (high-end remodel)
|
$45,000 to $100,000
|
Finished Basement / Attic
|
$75 to $150 per square foot
|
Average Design Fees: 7 - 10% of Construction Costs, plus reimbursables and engineering if required
|
$90 per hour
|
Painting
|
$600 to $2,000 per room
|
Architectural Renderings
|
$500 to $1,500
|
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There is more to think about than just cost
A quality remodel builds value into your home house. Not only does it make your
home more appealing to live in, also a good portion of your remodeling cost will
be recouped if you decide to sell your home. Remodeling magazine publishes a
study every year showing the average return on your investment for remodeling
projects. The 2010 report shows that you can build your homes value up to 75%
of the cost of the remodel. Take a look for yourself.