Full Renovation Cost: What to Expect When Planning a Total Home Makeover

Thinking about a full home renovation? Exciting stuff! Renovating your entire home is a chance to start fresh, improve functionality, and create a space that feels truly yours. But with big dreams come big questions, and one of the first things on everyone’s mind is the cost. How much does a full renovation actually cost?

 

In this guide, we’ll break down the main factors that impact your total renovation budget. From deciding what to prioritize to choosing materials and managing labor costs, you’ll get a sense of what to expect financially as you plan your dream home. Let’s dive in!

 

1. Setting Your Renovation Goals

Before we get into the costs, it’s important to figure out what you want to get out of your renovation. Do you want to create an open-concept, modern space? Improve energy efficiency? Update outdated rooms? If you are able to define your goals early, you will be able to set a realistic budget and focus on what matters most.

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Here’s how to start:

 

Prioritize Your Needs: What’s most important on your list – organize it in order of importance. Kitchens and bathrooms are usually at the top of the list, because they can add to home value and improve daily living.

Estimate the Scale of Your Project: Are you doing a full home renovation or just a few rooms? If budget is an issue, you may want to consider a phased approach which means taking on one room or two at a time, and raising costs gradually in this way.

Set a Budget Range: Set limits for what your renovation will cost. Remember that it’s good to have an emergency fund for unexpected costs.

 

2. The Main Cost Factors to Understand

So let’s dive into the nitty gritty of what affects the cost of a full home renovation. Here’s a breakdown of the main elements to consider:

 

Labor: Any renovation can be very costly in terms of labor. Experts include experienced contractors, electricians, plumbers and carpenters, all of whom are necessary, but expensive.

Materials: Choosing materials can make a huge difference to your budget. For example, natural stone countertops cost more than laminate. Natural wood floors will also cost more than laminate floors. Consider what is important versus where you can give up.

Permits and Fees: Permits for some renovations can add up quickly. Find out from your local municipality whether you need permits for electrical, plumbing and structural changes.

Design and Planning: If you’re working with an architect or designer, include their fee. Investing in a good designer can be worth it: they can help you avoid costly mistakes and get what you want at the same time.

3. Breaking Down Costs by Room

Different rooms have different renovation needs, and some cost more than others. Here’s a quick overview of what you might expect for key areas:

Kitchen Renovation: Renovating a kitchen can be one of the most expensive rooms to do, costing anywhere from $20,000 to $50,000 or more, depending on the layout, materials and appliances. Costs can go up with high end countertops, custom cabinetry and new appliances.

Bathroom Renovation: Bathrooms, too, are super high on the cost spectrum, with a typical remodel in the $10,000 to $20,000 range. The budget is affected by factors like tile, plumbing fixtures, custom showers or bathtubs.

Living Room and Bedrooms: Renovating these spaces can often be done for less, $5,000 to $10,000 per room, depending on materials and finishes.

Whole Home Remodeling: To get a full, top to bottom renovation, expect to pay somewhere around $100,000 for a small home and upwards from there. Homes in higher end neighborhoods or with custom features can easily run $200,000 to $300,000 or more.

 

4. Renovation Savings Without Compromising Quality

If you’re looking to save without sacrificing quality, here are some tips to keep costs manageable:

 

Consider Alternative Materials: You don’t always need luxury materials to create a high end look. For example, quartz countertops mimic the look of marble at a fraction of the cost.

Mix DIY with Professional Help: You can do certain tasks yourself like painting or simple demolition but leave more complex work, like plumbing and electrical, to pros.

Reuse and Refurbish: By repurposing, you can stretch your budget a little further without sacrificing style: for example, by refinishing cabinets rather than replacing them.

5. Planning for Unexpected Costs

With any major renovation, there are likely to be surprises. Maybe you find out there’s outdated wiring behind a wall, or there’s water damage lurking under old flooring. Here’s how to plan for these curveballs:

Set Aside a Contingency Fund: Budget 10-20% of your total budget for unexpected expenses. If you don’t need it, great! It’s better to be prepared.

Get Multiple Estimates: Get itemized estimates from a few contractors to have a good baseline of expected costs, and then compare rates before you commit to one contractor.

Do Your Research: This makes it easier for you to recognize the red flags or avoid costly mistakes.

 

6. Financing Your Renovation

Financing options can help make your dream renovation a reality even if it’s outside of your current budget. Here are a few options:

 

Home Equity Loans and Lines of Credit: Renovations are common reasons for these loans because they often have lower interest rates and use your home as collateral.

Personal Loans: Another option is a personal loan, if you don’t want to risk putting your home on the line. Rates may be higher, but the process is faster.

Credit Cards: For smaller projects, using a credit card is a simple solution, but only if you’re certain that you can pay off the balance before the interest kicks in.

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7. Working with Professionals

Finding the right team for your renovation experience can make or break the entire experience. Here are a few tips to find professionals who align with your vision and budget:

 

Check References and Portfolios: Seek out professionals who have experience in full home renovations and request references or a portfolio of completed projects.

Ask About Project Management: Some contractors will take care of everything from permits to subcontractors, so your life is easier.

Set Clear Expectations: Communication is key! Talk about budgets, timelines and any potential roadblocks so that everyone is in the same place from the get go.

Conclusion

A full renovation is a big undertaking, but it’s also an opportunity to create a home that feels tailor-made for you. Understanding the costs involved, setting realistic goals, and planning carefully can make the process smoother and even enjoyable. And if you need help, don’t hesitate to reach out to a renovation professional who can guide you every step of the way. Ready to start planning? Let’s make your dream home a reality—one room at a time.