The Real Costs of Renovating a Home

How Much Will Renovating My Home Cost?

Over time every home will start to show its age.  If your home is stuck in that in-between stage, not old enough to be vintage, and too old to be stylish, it’s time to consider remodeling. Before you start interviewing contractors in Washington State, having an understanding of common remodeling costs will help you plan and evaluate your options. It’s important to establish a total cost of renovation in order to budget realistically and effectively.

 

cost of renovation

 

Kitchen

One of the most common renovating projects is the kitchen. This high-impact area of your home can take a variety of forms, from the simple appliance replacement to a complete knock-down and addition. Most common are the minor and major remodels:

  • $14,913 Minor – A minor remodel includes re-facing cabinets and drawers, fixtures, basic countertops, flooring, wall oven, cooktop and sink.
  • $43,000 Major – A major remodel can include adding an island, granite countertops, upgraded appliances, new flooring and high-end fixtures.

Bathrooms

Second to kitchen remodels, bathrooms have the next largest impact on value. Again, they come in various levels.

  • $10,500 Minor – For this cost you can replace the tub, sink, vanity, toilet, flooring and fixtures.

 

  • $26,000 Major – This is far more extensive and might include re-arranging the current plan to allow for a new bathtub or shower, upgraded toilet, sink and fixtures. One might even consider a heated floor or closet in addition to new lighting.

 

Living Space Improvements

Freshen up the living areas of your home by using modern elements and colors.

  • $4,400 Living Room – Change up the style of a dated room with wood floors, new paint and a new mantel over the fireplace. Change out the light fixtures, switches and covers, add crown molding, drapes and other décor for a modern look.

 

  • $2,340 Bedroom – The cheapest cost of renovation on this list, the master bedroom is a no brainer remodel. Master bedrooms are a big draw for home buyers so investing in new wood floors and fresh paint will not only increase your home value but bring you enjoyment as well.

 

  • $13,000 Bonus Room – An extra bedroom makes a great office or playroom with just a few changes and additions.

 

  • $10,000 Replacement Windows – Not only do new windows reduce energy use but they look beautiful too. This is an average cost to replace ten 3-5 ft. windows.

Additions

Adding living space is always a great way to spend a remodeling budget.

  • $39,188 Attic Bedroom Conversion – Add a bedroom by using that wasted space in the attic.

 

  • $51,000 Basement – Another area which can be used for extra living space is the basement. For this renovation you can add drywall and finishes and flooring. Make sure you address any leaks or other water intrusion before you start in order to avoid future issues.

 

  • $54,000 Family Room – Coming it at $54,000 this is the most expensive cost of renovation of all projects but building a family room addition will add value to your home and give your family a place to play.

 

Exterior Upgrades

Don’t neglect the outside of your home when looking for remodeling projects. When the weather turns warm, you’ll want to spend more time outside.

  • $32,500 Outdoor Kitchen – Beyond a store-bought BBQ, an outdoor kitchen includes everything you need to make great outdoor meals from the upgraded BBQ unit to a refrigerator, sink, lighting and perhaps a built-in eating area or pizza oven.

 

  • $11,000 Deck, Patio or Porch Addition – Adding space or building a new 16-20 ft. single wood deck.

 

  • $4,967 Landscaping – Of course the cost here varies based on needs, but this is an average cost of landscaping working with a professional designer.

 

Remodeling is not an expensive project, but it can yield great returns. Not only will your property value rise, but having a home which fits your lifestyle allows you greater use of the property by you and your family.

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