What Will a Remodel Cost?
The choices made on a remodel project from who will do the work to the price of the materials and fixtures used will affect the remodel cost.
A quick way of getting a remodel cost estimate is to assign a cost per square foot of area to be remodeled. Multiply the square footage by a cost range of $100 to $700 per square foot.
For example, if you want to add a 100-square-foot bedroom at the end of a hall by building an addition into the backyard and remodel an existing 100-square-foot bedroom and a 50-square-foot bathroom, the total area would be 200 square feet. Then multiply 200 by the range of $100 to $700 and you get a remodel cost estimate of $20,000 to $140,000.
This estimate has small value since the range of potential costs varies wildly. The $700 per square foot is unusual and unaffordable for most. Conversely, the $100 per square foot is unrealistically low.
But armed with a general idea of the remodel cost, you can get an estimate from a contractor or architect. They will likely use a cost per square foot to form an estimate, but they won’t use a range as wide as $100 to $700. They will estimate using an average based on their experience with similar projects and the materials to be used. Average cost per square foot declines as the room gets larger, so adding extra space to the project will be cost-effective. When you get an estimate, plan on a budget overrun of about 12%.
Estimates from local contractors will offer an accurate picture, but the average national remodel costs provided below give a rough idea of the current price level for the three top home renovation projects. National averages won’t account for problem plumbing setups; exotic materials; relocating rooms, power wiring, and plumbing; structural problems in old homes needing repair; etc.
Room Addition Cost Estimates
Price Range: $50,000 to $90,000
Average Project Price: $70,000
Build addition $80 to $135 per square foot
Drywall ceiling over plaster $2.50 to $4.00 per square foot
Bathroom Remodel Cost Estimates
Price Range: $7,000 to $20,000
Average Project Price: $11,605
Add half bathroom $4,500 to $6,000
Add full bathroom $8,000 to $14,000
Kitchen Remodel Cost Estimates
Price Range: $15,000 to $45,000
Average Project Price: $26,888
Bear in mind that remodel cost estimates will vary by region due to many factors from the availability of materials to the age of a home to whether a home’s mechanical elements are relocated or not.
