Having a luxury home has become a dream of many people. To have a luxury home, you are not required to construct a new one. You can renovate your old house and make it look rich. You can consult a good architect who will help you in rebuilding your house at a very cheap price.
Using home renovation calculators you can easily estimate the total cost of renovating your house. And, that’s what this post it all about.
Factors affecting house renovation costs
Before the renovation, you should be aware of the factors that will affect the costs because, in the end when the final bill will be placed before, you shouldn’t be shocked.
Location plays a significant role in raising your costs. Whenever you buy land also, you first look at the location where it is situated. If the location suits you then you purchase. Similarly, at the time of renovation, the same remodeling costs can be higher in some other locations or vice versa. If your house is located far away from the city, your material cost, supplier cost, etc will be much higher. Hire a contractor who will guide you and ask him all your questions before opting for renovations.
It depends on the quality of materials you are using for renovation. If you use high-quality then definitely the stakes will be higher. But, it doesn’t mean that you will select inexpensive and lower quality because that will cause you trouble in the future. Your house will have wrinkles and the tiles will be broken. So, it’s better that you have a proper talk with your contractor.
Nowadays, contractors charge high prices. In the market, you will find different contractors having different price ranges. Choose wisely. Hire only that contractor who will come into your budget.
Before renovation starts, calculate the time period. The duration to complete the project should be in your mind. Then only you can complete it in time. The more working hours, the more the labor charges. So, have a clear understanding of the time you have to complete the renovation.
How to compute the expense of home renovations?
Renovating an older house costs more than the new one because of the electricity, lights, plumbing, flooring, etc. You should start deciding as per room. Do not calculate the expense of the house. Calculate it as per room.
If your house is 1000 sq feet, then the cost to renovate should not be more than $17,000- $18,000. If it’s above 10,000 sq feet, then you can go for higher expenses. If we calculate the cost based on per sq feet, then it is advisable to not spend more than $10 to $50.
Do not spend more than 10 percent of your home’s value in one room. It will cost you much more if you spend more than this. Calculate one by one. For example, if the worth of your house is $200,000. Spend only $20,000 per bathroom or room. If your house is worth more, you can increase your budget. It takes a lot of calculations to come to the final budget. So, do not be in a rush to start the project. Take your time.
How to use a home renovation calculator?
The kitchen and bathroom are the two main areas people feel a need to renovate. They are the most expensive when it comes to renovating. If you are willing to renovate only the kitchen, then the average costs will be between $5,000- $15,000. If you are thinking of renovating the bathroom, then the average cost will be between $6,000-$12,000.
Plumbing is also important and it can cost you up to $10,000. We cannot forget the contractors as they are the ones who will renovate our house. So their costs would be approximately $80-$120 per hour.
Finalize the remodel finish you want to accompany like low-end, mid-range, or high-end. The pricing will differ in all cases. The cost difference between each of these can be a minimum of $10,000.
The flooring will also get replaced. New tiles will be placed. The total square footage of flooring you require will add up to the budget. Select the material. Do not select high-standard quality materials as your budget will increase.
Renovation is not an easy task. It requires time, patience, proper guidance, money, support, etc. Appointing an experienced contractor or architect will reduce your burden. They are highly skilled so they know the proper estimation. Seek help from them. Renovate your house in such a way that it will look like a new and luxurious one.