It is always difficult to estimate home renovation costs since it is a flexible number, depending on various different factors. Every remodeling project is unique, and costs vary depending on your budget, tastes, and priorities. According to Better Homes and Gardens, in general, materials will account for 80 percent of your budget, while labor costs represent the last 20 percent.
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Home renovations expert, Lee Wallender, gives us a list of national averages on what certain common projects will end up costing you for your rehab:
Additions
Build addition $80 to 135 per square foot
Enclose porch $6,500 to $16,000
Drywall ceiling over plaster $2.50 to $4.00 per square foot
Basement Conversion Cost Estimates
Convert basement to legal rental unit $40,000 to $60,000
Bathroom Remodel Cost Estimates
Remodel bathroom $9,000 to 14,000
Add half bathroom $4,500 to 6,000
Add full bathroom $8,000 to 14,000
Electrical Work Cost Estimates
Increase service to 200 amps $900 to $1,500
Run separate electrical lines $250 to $400
Install connectors on outlets (of aluminum wired homes) $25 to $30 per connection/ $2,600 to 3,900 (whole house)
Exterior Work Cost Estimates
Regrade lawn $700 to $2,000
New gutters and downspouts $3.50 to $4.50 per linear foot
Floor Work and Installation Cost Estimates
Sand and finish wood floors $2.50 to 4.30 per square foot
Install ceramic tile floor $16 to 27 per square foot
Install vinyl tile floor $4.00 to $6 per square foot
Install wall-to-wall carpet $5 to $8 per square foot
Garage Work Cost Estimates
Build single car garage $8,000 to 12,500
Build double car garage $10,000 to 14,000
Heating and Air Conditioning Cost Estimates
Replace warm air furnace $2,500 to 4,800
Replace electric heat pump $3,200 to 4,600
Replace central air conditioning system (electric) $2,500 to 4,000
Replace central air conditioning system (gas) $3,600 to 4,500
Install humidifier $500 to 750
Install electrostatic air cleaner $600 to 850
Replace hot water boiler $3,500 to 4,500
Install attic ventilation $350 to 550
Insulation Cost Estimates
Insulate attic / basement $1.75 to $3.50 per square foot
Full-Scale Kitchen Remodel Cost Estimates
Remodel kitchen $12,000 and up
Plumbing Cost Estimates
(40-gallon capacity) $500 to 750
(40-gallon capacity) $400 to 650
Install new well $4,000 to 6,000
Install new septic system $4,000 to 6,000
Install sump pump $500 to 600
Install French drain and sump pump $3,000 to 4,500
Roofing Replacement Cost Estimates
Asphalt / fiberglass shingles- Install over existing shingles $2 to $3.20 per square foot
Remove existing shingles and install new $2.75 to 4.75 per square foot
Replacement and Storm Windows Cost Estimates
Install storm windows $70 to $145 each
Replace existing windows $350 to $700 each
With products representing such a large percentage of the budget, you can help control costs by choosing the level of products you will purchase. When deciding where to scrimp and splurge, consider how you will use your new rehab and how long you will own the house. If you won't live with your renovations forever, save your splurge items for things that will help your resale value later on.
Sometimes it seems that there is no end to the home renovation projects you want to do, but this list should at least give you a good start to knowing where to prioritize and begin with the jobs that will be the most useful in the long run.
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