by Dominic Zijlstra | Sep 17, 2024

How much does it cost to remodel a house in 2024: The Ultimate Guide

How much does it cost to remodel a house? This is the first question on most people’s minds when considering a home renovation. To give you a quick answer, the average cost to remodel a house can range from $17,697 to $79,125, with a typical mid-range remodel averaging around $48,384.

Here are some key factors affecting the cost:

Size of the home
Scope of the project
Materials used
Labor costs
Unforeseen issues

Remodeling your home can be an exciting yet daunting task. Budgeting is crucial to ensure you don’t overspend or encounter financial surprises along the way. From understanding foundational elements to picking quality materials, every detail affects the final cost and success of your project.

I’m Ryan Norman, founder of Norman Builders. Since 2007, my team and I have been helping homeowners create their dream spaces. With experience in technology, real estate, and property management, I’m well-equipped to guide you through the complexities of home remodeling costs.

Infographic on Remodeling Costs Summary - how much does it cost to remodel a house infographic infographic-line-3-steps-neat_beige

How much does it cost to remodel a house terms you need:
– basement and whole house remodeling and renovations
– home addition costs
– home renovation costs

Factors Influencing Remodeling Costs

When planning a home remodel, several key factors will influence the overall cost of your project. Understanding these elements can help you budget effectively and avoid unexpected expenses. Let’s explore the primary factors that will impact your remodeling budget:

Location

The cost of remodeling varies significantly based on your location. For instance, remodeling in urban areas like Boston or San Francisco tends to be more expensive due to higher labor costs and living expenses. On the other hand, rural areas may offer lower costs but could lack access to specialized contractors.

Home Size

The size of your home directly affects the cost of remodeling. Larger homes require more materials and labor, increasing the total expense. For example, the cost per square foot can range from $10 to $60 for a standard remodel, but it can go as high as $200 to $300 for high-end finishes.

Project Scope

The scope of your project is another major factor. A simple bathroom update will cost significantly less than a full kitchen remodel or a home addition. According to HomeAdvisor, a low-end remodel might range from $1,200 to $20,000, while high-end projects can soar from $42,000 to $82,000.

Materials

The quality and type of materials you choose will also impact costs. Opting for budget-friendly materials like laminate countertops instead of marble can save you a lot. Similarly, choosing stock cabinets over custom-built ones can reduce expenses.

Labor

Labor costs can vary based on the complexity of the work and the expertise required. Hiring specialized professionals like electricians or plumbers will add to your labor costs. It’s essential to get multiple quotes to ensure you’re getting a fair price.

Permits

Don’t forget the cost of permits, which can add up. Depending on your location and the scope of your project, permits can range from $50 to several thousand dollars. Always check local regulations to understand what permits are necessary for your remodel.

Taxes

Sales tax on materials and potential property tax increases after significant home improvements are additional costs to consider. Be sure to factor these into your budget to avoid surprises.

Unforeseen Costs

Finally, always plan for unforeseen costs. Issues like mold, asbestos, or structural problems can arise unexpectedly. It’s wise to add an extra 10% to 20% to your budget to cover these contingencies.

By understanding these factors, you can better plan and budget for your home remodel, ensuring a smoother and more predictable project.

Next, let’s explore the average costs associated with remodeling a house.

How Much Does It Cost to Remodel a House?

When considering how much it costs to remodel a house, know the average costs, cost per square foot, differences between low-end and high-end remodels, and room-specific expenses.

Average Cost to Remodel a House

On average, remodeling a house costs $48,384. However, the typical range is between $17,697 and $79,125, according to HomeAdvisor. These numbers can vary widely based on the project’s scope, the quality of materials, and labor costs.

Cost Per Square Foot

The cost per square foot for remodeling a house can range from $10 to $60 for basic updates and up to $200 to $300 for high-end finishes, as noted by Forbes.

Basic remodel: $10 to $60 per square foot
High-end remodel: $200 to $300 per square foot

Low-End vs High-End Remodels

Low-end remodels typically cost between $1,200 and $20,000. These projects often include cosmetic work like painting, landscaping, and basic flooring. On the other hand, high-end remodels can range from $42,000 to $82,000. These extensive projects may involve structural changes, high-end materials, and custom features.

Room-Specific Costs

The cost to remodel specific rooms varies greatly. Here’s a breakdown:

Kitchen: Remodeling a kitchen can cost between $12,000 and $60,500. The average kitchen remodel costs around $27,000. This includes new cabinets, appliances, countertops, and flooring.
Bathroom: A bathroom remodel ranges from $2,500 to $30,000. The cost per square foot for a bathroom is approximately $70 to $250. This cost depends on whether you are simply updating fixtures or making significant changes.
Bedroom: Remodeling a bedroom is relatively budget-friendly, costing between $1,200 and $6,000. This typically includes new paint, flooring, and possibly furniture updates.
Living Room: A living room remodel can cost between $2,200 and $16,000. This might involve new flooring, paint, and lighting.
Basement: Remodeling a basement can be more expensive, ranging from $4,700 to $41,000. This includes insulation, flooring, and possibly creating additional living spaces.
Garage: Remodeling a garage costs between $3,000 and $30,000. This might involve adding storage solutions, new flooring, or converting the space into a living area.

Understanding these costs can help you budget effectively for your home remodel. Next, we’ll break down the costs by project type.

Average Cost to Remodel a House - how much does it cost to remodel a house

Cost Breakdown by Project Type

Gut Renovation

A gut renovation involves stripping a house down to its studs and rebuilding the interior. This extensive remodel includes new plumbing, electrical systems, and structural improvements.

Cost: $90,000 to $210,000
Cost per square foot: $90 to $210

You might need a structural engineer to ensure the integrity of the building. This type of renovation is ideal for old homes with outdated systems or layouts that need a fresh start.

Interior Renovation

Interior renovations focus on updating the inside of a home without altering the structure. This can range from cosmetic updates to more significant changes like floor plan adjustments.

Cost: $1,200 to $41,500

Common tasks include demolition, debris removal, and installing new fixtures or finishes. Renovating the interior can dramatically change the look and feel of your home.

Exterior Renovation

Exterior renovations aim to improve both the curb appeal and structural integrity of a home. These projects often involve updating the façade, replacing windows, or adding new landscaping.

Cost: $1,200 to $75,000

Tasks might include painting, installing new windows, or redoing the landscaping. These updates not only make your home look better but can also increase its value.

Home Addition

Adding extra space to your home can be a significant but worthwhile investment. A home addition might include building new rooms or expanding existing ones.

Cost: $21,000 to $73,500
Cost per square foot: $80 to $200

This project involves framing, roofing, and foundation work. Home additions are a great way to increase your living space without the need to move to a larger house.

Historic Home Renovation

Renovating a historic home comes with its own set of challenges and costs. These homes, typically over 50 years old, often require specialized work to preserve their character.

Structural repairs and updates to meet modern building codes are common.
Licensed contractors familiar with historic properties are essential.
Higher insurance costs may apply due to the unique nature of these homes.

Renovating a historic home can be more expensive but offers the reward of preserving a piece of history.

Home renovation projects range in cost from $1,200 to $82,000, with an average cost of $41,600. - how much does it cost to remodel a house infographic checklist-notebook

Understanding the costs associated with different types of home remodeling projects can help you plan your budget more effectively. Next, we’ll explore ways to save money on your remodeling costs.

Ways to Save Money on Remodeling Costs

Remodeling your home doesn’t have to break the bank. Here are some effective strategies to save money:

DIY Projects

Taking on some tasks yourself can significantly cut costs. Here are a few DIY-friendly projects:

Painting: Refresh your walls or cabinets with a new coat of paint.
Demolition: Knock down non-load-bearing walls or remove old fixtures.
Flooring: Install laminate or vinyl flooring yourself.
Basic Tasks: Replace faucets, showerheads, or light fixtures.

While DIY projects can save you money, remember to leave complex tasks like electrical work to professionals.

Multiple Contractor Quotes

Before hiring a contractor, get at least three estimates to compare prices and services. Here’s how to do it:

Ask for Recommendations: Friends, family, and neighbors can provide reliable referrals.
Check Reviews: Look up past work and reviews on platforms like HomeGuide and Google.
Payment Schedule: Avoid large upfront payments. Instead, set a schedule based on project milestones.

Budget-Friendly Materials

Choosing cost-effective materials can keep your budget in check:

Laminate vs. Hardwood: Laminate flooring offers the look of hardwood at a fraction of the price.
Marble vs. Laminate Countertops: Laminate countertops can mimic the look of marble without the high cost.

Floor Models

Look for deals on floor models at local stores:

Appliances: Floor models or slightly dented appliances can offer significant savings.
Display Discounts: Items used for display purposes are often sold at a discount.

Maximizing Current Space

Instead of adding new rooms, make better use of existing space:

Renovate Existing Space: Update your basement or attic to create more living area.
Avoid Additions: Reconfiguring current rooms can be more cost-effective than building new ones.

Avoiding Plumbing Changes

Moving plumbing can be expensive. Save money by keeping fixtures in their original locations:

Keep Fixtures in Place: Avoid rerouting water lines to save on labor and material costs.

Federal Grants

You might be eligible for grants to help cover renovation costs:

Eligibility: Check if you qualify for federal grants like those from the Federal Housing Administration (FHA).
Types of Grants: Grants are available for various needs, including renovations for disabled persons and veterans.
Application Process: Research the application requirements and deadlines to secure funding.

By following these tips, you can save money on your home remodeling project without sacrificing quality. Next, we’ll discuss financing options to help fund your remodel.

Financing Your Home Remodel

When it comes to funding your home remodel, you have several options. Here are four popular choices:

Home Equity Loan

A home equity loan allows you to borrow against the equity you’ve built up in your home. This type of loan provides a lump sum payment, which can be ideal if you know the exact cost of your project.

Pros: Fixed interest rates, predictable monthly payments.
Cons: Your home is used as collateral, so you risk foreclosure if you default.

HELOC

A Home Equity Line of Credit (HELOC) is another way to tap into your home’s equity. Unlike a home equity loan, a HELOC gives you a line of credit that you can draw from as needed.

Pros: Flexibility to borrow as you go, pay interest only on the amount you use.
Cons: Variable interest rates can lead to higher payments, your home is still collateral.

Cash-Out Refinance

With a cash-out refinance, you refinance your mortgage for more than what you currently owe and take the difference in cash. This can be a good option if you want to combine your remodel financing with a better mortgage rate.

Pros: Potentially lower interest rates, one monthly payment.
Cons: Closing costs can be high, and you’re increasing your overall mortgage amount.

Home Improvement Loan

A home improvement loan is an unsecured personal loan that you can use for renovations. This means you won’t be using your home as collateral.

Pros: No risk to your home, quicker approval process.
Cons: Higher interest rates compared to secured loans, shorter repayment terms.

Choosing the right financing option depends on your financial situation, the scope of your project, and how much equity you have in your home. Make sure to evaluate all your options carefully before making a decision.

Frequently Asked Questions about House Remodeling Costs

Is it cheaper to remodel or build a new house?

It’s almost always cheaper to remodel an existing house than to build a new one.

Remodeling typically costs around $100 per square foot, while building a new house averages about $150 per square foot.
Moving costs are minimal or nonexistent when you remodel.
Building new involves additional costs like purchasing land and longer project timelines.

However, if your current house has severe structural issues or doesn’t meet your needs, building new might be the better long-term investment.

What is the average cost per square foot to remodel a house?

The average cost to remodel a house ranges from $10 to $60 per square foot.

Basic remodels: $10 to $20 per square foot. This includes cosmetic updates like painting and new flooring.
Mid-range remodels: $20 to $50 per square foot. This covers more extensive updates like new kitchen cabinets or bathroom fixtures.
High-end remodels: $50 to $60 per square foot. This includes luxury materials, custom designs, and structural changes.

Factors affecting cost:
– Location: Urban areas with higher living costs will be more expensive.
– Age of the home: Older homes may require updates to plumbing, electrical, and structural elements.
– Quality of materials: High-end materials and finishes will drive up costs.

Which remodeling projects have the highest ROI?

Certain remodeling projects offer better return on investment (ROI) than others. Here are some top picks:

Kitchen remodels: Both large and small kitchen remodels provide a good ROI. A minor kitchen remodel can return about 81% of the cost, while a major one averages around 59%.
Bathroom remodels: Updating a bathroom can return about 70% of the cost. Simple changes like new fixtures and tile can make a big impact.
Curb appeal projects: Exterior improvements like new siding, windows, and landscaping can offer an ROI of up to 75%.

These projects not only increase your home’s value but also make it more appealing to potential buyers.

Conclusion

Remodeling your house is a significant investment, but with careful planning, it can be incredibly rewarding. Understanding how much it costs to remodel a house is crucial for setting realistic expectations and staying within budget.

Summary

From our research, the average cost to remodel a house varies widely, from $10 to $60 per square foot, depending on the scope and quality of the materials used. Room-specific costs also range significantly, with kitchens and bathrooms generally being the most expensive. It’s essential to consider all factors, such as labor, materials, permits, and unforeseen costs, to get a complete picture of your remodeling budget.

Importance of Planning

Planning is the cornerstone of a successful remodeling project. Start with a clear vision of what you want to achieve. Create a detailed budget and add an extra 20% for unexpected costs. Get multiple quotes from contractors, and don’t be afraid to ask questions. Some projects are better left to professionals, especially those involving plumbing, electrical work, and structural changes.

Norman Builders

At Norman Builders, we pride ourselves on delivering top-tier, custom-built homes and remodels with exceptional craftsmanship and personalized service. We have been serving the Merrimack Valley, North Shore, Seacoast, and Southern NH areas since 2007. Whether you’re looking to remodel a single room or undertake a whole house renovation, our team is here to help you every step of the way.

For more information or to get started on your renovation project, visit our Whole House Renovations page.