Planning for Home Remodeling
Budgeting for three common projects
It’s easy to imagine the end result of a remodeling project – an updated spa bathroom, an open-concept kitchen with new cabinets and countertops or a basement converted into a convenient guest apartment. But it’s harder to imagine just what these renovations will cost – and even more so, how far your own budget will take you. Here’s a look at what you can achieve with modest, average and luxury budgets for three common remodeling projects, according to data from HomeAdvisor’s True Cost Guide.
BATHROOM REMODELS
Even small modifications can have a big impact in a bathroom remodel. On average, homeowners spend around $6,000 to $14,000, depending on the size and extent of the project.
Modest: With a budget of around $2,500, you can give your bathroom a fresh coat of paint, upgrade the toilet and sink, add new décor and update the lighting.
Average: For closer to $10,000, you can swap out surfaces and fixtures, so long as you don’t move plumbing or electrical. You can get new cabinetry, flooring and countertop materials – and even upgrade to a curbless walk-in shower.
Luxury: With a budget of around $24,000, you can move plumbing fixtures, invest in high-end flooring and countertop materials, and install new, custom-made cabinetry. You can also add tile installations, radiant floor heating and a luxury shower.
KITCHEN REMODELS
Most people have a vision of their “dream” kitchen, but not everyone can afford it right off the bat. Homeowners tend to spend $12,500 to $33,500 to create a kitchen that both appeals to their tastes and complements their lifestyle.
Modest: With around $4,000, you can either reface or refinish the cabinetry, upgrade your countertops or get all-new appliances. And your budget could also include detail work like painting, new plumbing fixtures and lighting.
Average: With a budget of closer to $22,000, you can paint, get new countertops, reface or replace your cabinets, and invest in high-quality appliances. You can also add a kitchen island or remove a wall. Note that removing a load-bearing wall could cost over $10,000.
Luxury: Most homeowners spend over $50,000 for a luxury kitchen remodel. With this, you can change the layout, knock out a wall, install new windows, get high-end flooring and countertop materials, and upgrade to the latest and greatest appliances.
BASEMENT REMODELS
Remodeling your basement offers a prime opportunity to add usable square footage and value to your home. On average, homeowners report paying $10,500 to $27,500 on basement remodels.
Modest: With a basement that is 600 to 700 square feet, you can create a family room, home theater or wet bar for around $5,000. Keep your costs down with affordable materials and furniture.
Average: With closer to $20,000, you can renovate a basement of 700 to 1,000 square feet. You can use higher-end flooring materials, add cabinetry and storage, and frame the basement to add rooms or separate spaces. You can even have a bathroom installed, though it will cost $10,000-$15,000 for the plumbing, electrical, fixtures and walls.
Luxury: A budget of over $40,000 can transform your basement into a living space with bedrooms, bathrooms, closets, a kitchenette, cabinetry and high-end flooring materials. When it comes to high-end basement remodels, the opportunities are endless.
Lauren White is a reporter for HomeAdvisor, an online marketplace connecting homeowners with service professionals to complete home projects. Visit HomeAdvisor.com.
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