House Renovation: How Much Can it Cost?

It's impossible to give you the exact amount of cost of any type of renovation in your house. However, it's possible to give you a close estimate of the most common projects in a house, just to give you a general picture.

1. Bathroom renovation

This is the biggest DIY project possible, so be prepared for significant expenses, especially if you want to renovate the whole bathroom - expect to spend around $18,000 in that case. If you want to renovate half of the elements, it probably won't be higher than $6,000. In case your intention is to add another bathroom to the house, the expenses will be around $40,000.

2. Basement renovation

There are factors here that will influence the cost, such as the electrical and plumbing systems and HVAC. Plus, mind the legalities needed if you want to turn the basement into a rental space - it will cost you around $70,000. If you intend to finish the basement, you shouldn't spend more than $50,000, while DIY finishing is around $15,000.

3. Electrical works

Of course, you can do the works on your own, and you only need to buy electrical material, which is mostly cheap. In case you'll need an electrician, the highest you could pay is for increasing service, with the price going up to $1,500. If you want to run separate circuits, each circuit will cost from $250 to $400. Each connector on an outlet will cost you around $30, meaning the whole house installment could be around $3,900.

4. Floor works

Installing laminate and tile vinyl flooring is easy, so it can be a DIY project. However, it's better to hire a professional for installing ceramic tile or wood flooring. The wood floor could cost you around $2.50 to 4.30 per square foot, while ceramic tile floor price is around $16 to 27 per square foot. Wall to wall carpet is the cheapest, going from $5 to $8 per square foot

5. Kitchen Renovation

If you only want to renovate the kitchen on the surface, it should be no more than $5,000. There is always the possibility to find exact house painting quotes and lower this cost. If you want the complete kitchen remodeling to do on your own, expect to spend around $12,000 but if you choose to hire professionals, you will probably spend around $20,000.

6. Heating and air conditioning

These works are not expected to be done by an amateur, so the prices include a professional. Replacing the electric heat pump will cost you around $4,000 while replacing an electric central air conditioning system will be between $2,500 and $4,000. Prices are somewhat higher if it's a gas air conditioning. Smaller replacements like a humidifier or electrostatic air cleaner will be no more than $800.

7. Roofing replacement

If you want to replace the existing shingles, expect to pay around $2.75 to 4.75 per square foot. In case you want to install asphalt shingles over the existing ones, you'll probably pay $3.20 per square foot

Home insurance after remodeling

If you have decided to spend money on renovating your house, then consider getting a good home insurance. Renovations are of no big use if your house isn't insured from hazards. The prices can truly vary depending on the company, so make sure you do your homework and look at different options. The differences between the offers of different companies can be stunning, so spend some time on research.

All in all

House renovation can be a project that will end in a few days or it can take weeks. You need to set up your budget before you start planning the renovation so that you are prepared for the expenses. An estimate may not be completely precise but it's a start.