How Much is That Pretty Kitchen in the Window?
Spoiler Alert! Probably a Little More Than You Think!
It’s probably the #1 question on the mind of every client we sit down with: Just how much is this going to cost? It seems like such a simple question that we should have a simple, straightforward answer for, but there are so many variables involved in every new build or remodel project we work on…it’s often very hard to say until we get a little deeper into the weeds. On the other hand, as a builder who admittedly loves HGTV (a guilty pleasure), with a team that enjoys binging on all things real estate and remodeling, we certainly understand that you want a realistic idea of what a dream kitchen or new addition might actually do to your bank account.
Budgeting for a construction project shouldn’t be mysterious. After all, seeing a few sample numbers on the type of project you’re interested in can help you determine (often in the very early stages before you even talk with a contractor) if your remodel project is even doable or realistic. So, before you take that next step and start shopping, take advantage of our sample budgetary guide below and see just how much your home renovation dreams may cost!
Bathroom Remodeling Costs
Budgetary Cost Estimate: $25k-$100k
There are so many factors that will affect the cost of your bathroom remodel…from a small powder room to a large master bath with exquisite, high-end materials and fixtures, you can run your “average” costs all the way up to luxury level in a blink of an eye and a swipe of your Amex card. In other words, the size of your space and the materials you ultimately choose will often be the biggest determining factor in your project cost.
Kitchen Remodeling Costs
Budgetary Cost Estimate: $40k-$150k
What kind of kitchen do you envision? Crisp white double stacked cabinets all the way to the ceiling with beautiful marble counters and a range like Le Cornue’s Grand Palais? Or perhaps you want to keep costs reasonable as you can but still end up with a gorgeous looking custom kitchen you’ll be proud to show your friends and family? When it comes to kitchen renovations, the only limits on your dreams will be the ones that you set together with your contractor.
Addition Remodeling Costs
Budgetary Cost Estimate: $240-$600 per square foot
Do you want to build up or do you want to build out? The answer will most likely be the first thing you decide when you sit down with a contractor to start planning your addition construction. Additions are major renovation projects and costs vary widely depending on the structure you’ll be integrating the addition with as well as the materials you choose.
Deck Remodeling Costs
Budgetary Cost Estimate: $33.00 per square foot minimum
Want to expand the living area of your home? A brand new or upgraded deck is a fantastic way to open up your space and bring a little of the outside in. Whether you choose to go with pressure-treated wood, composite or some other type of exotic material, a deck is a popular home improvement and relatively economical way to add value to your property.
Electric Panel Costs
Budgetary Cost Estimate: $3000.00
Planning on a remodel in the near future? Do you know if your electrical system is up to snuff or would your home benefit from an upgrade to handle increased loads and current code requirements? The best time for work on your electrical system is when your walls are open and pre-planning is a must.
Budgetary Cost Estimate: $14-$22 per square foot
Do you have cracked or curling shingles or are you seeing an abundance of of granules in places where they shouldn’t be? It may be time to think about a new roof. If you’re lucky, you’ll only have to replace your roof once or twice in your lifetime and it’s a remodel project that should be taken extremely seriously. Roofing contractors and the roofs they install are not at all created equal.
Fire Sprinkler Costs
Budgetary Cost Estimate: $3-$22 per square foot (plumbing costs not included)
Fire protection methods and suppression systems like fire sprinklers offer peace of mind and more importantly, save lives. Fire sprinklers are generally installed inside the walls or in the ceilings of a residential or commercial building. When a fire is detected, the sprinkler system will automatically supply water to control and/or extinguish a fire.
Water Heater Costs
Budgetary Cost Estimate: $1500.00-$2500.00
If you live in a home long enough, you’re bound to eventually be faced with replacing a failing water heater. More likely than not, that failure will happen at the most inconvenient of times, and your search for a water heater will feel more like a speed date, than the well-researched project it should be. There are two distinct types of water heaters: tank and tankless. A tank type water heater’s lifespan averages 10-15 years.
Tankless On-Demand Unit Costs
Budgetary Cost Estimate: $2000.00-$3500.00
Is the extra cost of a tankless water heater worth it? It’s a question for the ages. A tankless water heater doesn’t store water; this kind of water heater has special heating coils and only heats water when you need it (i.e. on demand). So why is this type of water heater more expensive? Hot water on demand is a convenient amenity and a big advantage according to many consumers. Energy savings is another big advantage; Data from Energy.gov says that if your household uses an average of 41 gallons of water or less daily, a tankless water heater will be 24–34% more energy efficient than a conventional storage tank. Add in a longer life span, the space saving design and longer warranties, and a tankless water heater is hot competition for a standard tank version.