Average Cost to Renovate a House (2024 Data)

Undertaking a home renovation project is a thrilling opportunity to create the living space of your dreams, even though it may initially seem daunting. It's a process that transforms your space, reflecting your style and meeting your functional needs. This comprehensive guide aims to demystify the financial aspect of this venture, focusing on the cost of renovating a house. Understanding the financial implications is critical whether you're contemplating a complete house renovation cost or specific upgrades.

In this article, we'll explore various aspects of home renovation, from room-specific costs like bathroom remodel expenses to broader projects like whole-home renovation costs. By breaking down these costs, we aim to provide a clear picture of what to expect when planning your renovation.

Improving your home not only enhances your living experience but also adds long-term value to your property. With a detailed exploration of typical home renovation costs, we offer insights into budgeting effectively for your project. Whether it's a minor upgrade or a significant overhaul, knowing the average price to renovate a house is essential for a smooth renovation journey.

Average Home Renovation Cost Estimates by room type 

How Much Does It Cost To Renovate A Bathroom?

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Bathroom renovations are among the most popular home improvement projects, but they also vary widely in cost due to their complexity. According to Stephanie Bullwinkel of Imperial Kitchens and Baths, Inc., the intensive plumbing and electrical work required in bathrooms contributes to their higher renovation costs. The average cost to remodel a bathroom is about $11,250. However, this can range from $6,600 for smaller bathrooms to upwards of $28,000 for luxury upgrades like marble flooring or high-end fixtures. The cost also depends on the type of bathroom being renovated:

➼ Powder room: $1,500 to $10,000

➼ Half bathroom: $3,000 to $15,000

➼ Full bathroom: $5,000 to $20,000

➼ Master suite bathroom: $7,000 to $30,000+

Homeowners can manage costs by choosing budget-friendly features and fixtures while still achieving a significant improvement in functionality and style.

How Much Does It Cost To Renovate A Kitchen?

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Kitchen renovations are another high-cost area due to the complexity of the work and the variety of appliances and fixtures involved. The National Kitchen and Bath Association highlights that the cost of a kitchen remodel can vary significantly based on the scope, materials, and appliances chosen.

Calculating the cost of remodeling a kitchen for instance, a kitchen remodel may cost around $22,000, while a major overhaul with top-of-the-line appliances and custom cabinetry can exceed $50,000. Essential factors affecting the cost include:

➼ Cabinetry and hardware: 29% of total costs

➼ Installation: 17% of total costs

➼ Appliances and ventilation: 14% of total costs

➼ Countertops: 10% of total costs

Strategically choosing materials and appliances can help keep costs within a reasonable range while still achieving a stunning and functional kitchen upgrade.

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How Much Does It Cost To Remodel A Garage?

Garage remodels vary greatly based on the intended use of the space. A basic refurbishment with insulation and new storage solutions can cost around $6,000 to $10,000. However, converting a garage into a living space, complete with heating, insulation, and interior finishing, can push the cost to $20,000 or more. Factors influencing the cost include the size of the garage, the extent of electrical and plumbing work required, and the quality of materials used.

How Much Does It Cost To Remodel The Exterior?

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Remodeling outside of a house can greatly enhance curb appeal and property value. Costs for exterior remodeling projects like painting, siding, and window replacements can range from $5,000 to $15,000, depending on the materials used and the size of the house. Landscaping and outdoor features such as patios or decks can add additional costs but also provide significant aesthetic and functional benefits.

Attic or basement

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Converting an attic or basement into livable space is an effective way to add value to your home. The cost for these projects typically starts at around $20,000 but can go much higher depending on the extent of the renovation. Key cost factors include the current condition of the space, the level of finish desired, and any structural changes required.

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Attic or basement

Converting an attic or basement into a livable space is an effective way to add value to your home. The cost for these projects typically starts at around $20,000 but can go much higher depending on the extent of the renovation. Key cost factors include the current condition of the space, the level of finish desired, and any structural changes required.

Additional Rooms like Foyer, Laundry Room, Closet

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Smaller areas like foyers, laundry rooms, and closets, though often overlooked, can significantly impact a home's functionality and aesthetic appeal. Renovating these spaces typically involves a lower cost, ranging from $1,000 to $5,000, depending on the extent of the work and the materials chosen.

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Home renovation Cost per square foot 

Understanding the home renovation cost per square foot can provide a clearer picture of overall expenses, especially when considering a whole home renovation cost. Based on a 2022 study by Houzz, the median national expenditure on home renovation projects in 2021 stood at $18,000, while the 90th percentile expenditure reached $100,000.

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Whole house Renovation Cost

For a whole house remodel, the cost is an average of $100 to $200 per square foot. This can be higher for luxury renovations or lower for basic refurbishments. It's important to consider that the average cost of remodeling a house can fluctuate based on design choices, structural updates, and regional labor costs.

The average cost of renovating a house in cities

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As you can see in the data below, renovating your home in New York is more expensive than in other cities. In the second position, Los Angeles stands out as very active, as our research shows that more people in Los Angeles are willing to renovate their homes compared to other cities. Houston has the lowest average rate for home renovation. You can contact our home renovation experts to learn about specific, detailed home renovation prices by location.

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Home Renovation Costs by Project 

Breaking down the cost of renovating a house by specific projects can help in planning and budgeting. Here's a look at various projects and their associated costs.

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Roofing

Roof replacement or repair is a significant aspect of home maintenance. The average cost to renovate a house rises with roofing projects, which can range from $5,000 to $10,000 for asphalt shingles and upwards of $20,000 for higher-end materials like metal or slate.

Exterior siding

Updating the exterior siding not only improves the home's appearance but also its insulation properties. The cost can vary, with vinyl siding averaging $3 to $7 per square foot, while materials like wood or fiber cement can cost $5 to $12 per square foot.

Windows

Replacing windows can enhance energy efficiency and aesthetics. Costs depend on the type and quality of windows, with average expenses ranging from $300 to $700 per window for standard double-pane units. Specialty or custom windows can increase these costs significantly.

Patios or decks

Patios and decks are popular outdoor living spaces that expand your home's living areas. The average cost for a deck or patio ranges from $15 to $35 per square foot, with materials and size being the primary cost drivers.

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Central air conditioning

Installing or upgrading central air conditioning is a common home improvement project. The costs, including installation, can range from $3,000 to $7,000, depending on the system's size and complexity.

Furnace or heat pump

Replacing a furnace or heat pump is essential for efficient heating. This cost typically ranges from $2,500 to $5,000, influenced by the type of system and labor costs in your area.

Full Home Renovation Cost Factors 

When planning a comprehensive house renovation, understanding the variables affecting the complete house renovation cost is crucial. According to HomeAdvisor, the majority of home renovation expenses ranged from $17,947 to $78,308, with a national average of $48,049.

Here's a look at some key factors:

Home Size 

Unsurprisingly, the cost of renovating an entire house correlates with its size. Larger homes require more materials and labor, increasing the home renovation price per square foot. On average, renovating a small home might cost between $15,000 and $45,000, while larger properties could see costs soaring above $75,000.

Home Age

Older homes often present more challenges, such as outdated electrical systems or structural issues. These complexities can elevate the average cost of full house renovation. It's not uncommon for older homes to require an additional 20-30% in renovation costs compared to newer properties.

Alternate Living Expenses

If the renovation requires you to live elsewhere, consider the cost of temporary accommodation. This is an often-overlooked aspect of the cost of a full house renovation, but it can significantly impact your overall budget.

Updating Appliances

New appliances can be a major part of a whole house renovation's cost. The price for modern, energy-efficient appliances can range from a few hundred to several thousand dollars, influencing the average cost. For a more comprehensive breakdown of expenses, a 2022 study conducted by the National Association of Home Builders revealed that new homeowners typically allocate approximately $12,000 for renovations, $5,000 for furnishings, and $4,000 for appliances within the initial year of ownership.

Mold or Asbestos Remediation

Older homes might require mold or asbestos removal, which can be expensive. The cost of professional remediation can add several thousand dollars to your renovation budget.

Foundation Repairs

Foundation issues are among the most costly to address in a renovation. Depending on the severity, foundation repair can add anywhere from $2,000 to over $10,000 to the overall cost of renovating the entire house.

Plumbing

Plumbing updates are a critical aspect of any major home renovation, especially in older homes or in renovations that include bathroom or kitchen remodels. The costs for plumbing renovations can vary widely, depending on the extent of the work required.

➼ Minor repairs and updates can range from $150 to $350.

➼ More significant plumbing work, such as replacing old pipes or installing new fixtures, can cost between $500 and $1,500.

➼ Major plumbing overhauls, which may include replacing the main sewer line or re-plumbing the entire house, can cost from $2,000 to $15,000 or more, especially if they involve accessing walls and floors.

HVAC

Heating, ventilation, and air conditioning (HVAC) systems are essential for comfort and air quality in any home. The cost of HVAC renovations varies depending on whether the system is repaired, replaced, or upgraded.

➼ Simple HVAC repairs or minor upgrades can cost from $150 to $450.

➼ Installing a new furnace or central air conditioning system typically ranges between $2,500 and $7,500, depending on the system's size and efficiency.

➼ Comprehensive HVAC system overhauls, including ductwork modifications and high-efficiency systems, can cost anywhere from $5,000 to $10,000 or more.

Electrical

Electrical system upgrades are often necessary in home renovations, particularly in older homes that need to meet current safety standards. These costs can be significant, especially if a complete rewiring is required.

➼ Basic electrical repairs and minor updates can cost between $150 to $400.

➼ More substantial work, such as upgrading panels or adding new circuits, can cost between $500 and $2,000.

➼ A complete house rewiring, essential for some older homes to handle modern electrical loads safely, can cost between $3,000 and $8,000, depending on the home's size and wiring accessibility.

Additional home renovation costs to consider 

When estimating the average cost to renovate a house, it's important to factor in various additional expenses that might not be immediately obvious. These can significantly impact your overall budget.

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Labor

Labor can account for a significant part of home remodeling budgets, typically making up 20-35% of total costs. For example, if your total project cost is $50,000, expect to spend about $10,000 to $17,500 on labor alone. Always seek detailed quotes from contractors for an accurate assessment of these costs.

Contingencies

Unforeseen issues are common in renovations, making contingency funds essential. Allocating 10-20% of your total budget for such surprises is prudent. On a $30,000 project, this means setting aside an additional $3,000 to $6,000.

Permits

The cost of permits varies based on project scope and location. Minor renovations might require permits costing a few hundred dollars, while significant structural changes could see permit costs exceeding $1,000 or more.

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Geographic Location

Your location significantly impacts renovation costs. In high-cost-of-living areas, you might see a 20-40% increase in overall costs compared to national averages. This variation affects both labor and material expenses.

Living costs

If your renovation requires you to live elsewhere, budget for temporary accommodation. For a two-month project, this could range from $2,000 to $6,000, depending on rental costs in your area.

Floor Plan Changes

Making structural changes, such as removing walls or building extensions, can significantly increase costs. Depending on complexity and scope, such alterations can increase your project budget by $10,000 to $30,000 or more.

How much can be done with different budgets? 

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Understanding what you can achieve at various budget levels is crucial when planning a home renovation. Here’s a breakdown of what homeowners can expect to accomplish within different budget ranges:

Under $10,000 Budget

➼ Basic Updates: At this level, the focus is typically on cosmetic changes like painting, simple repairs, and minor upgrades to fixtures and finishes.

➼ Small Room Remodeling: This might cover a modest bathroom remodel or updating a small kitchen with budget-friendly materials.

$10,000 to $25,000 Budget

➼ Moderate Renovations: This range allows for more substantial updates, like a full bathroom remodel, mid-range kitchen updates, or replacing some appliances.

➼ Essential Repairs: These can include basic HVAC repairs, electrical upgrades, or fixing significant plumbing issues.

$25,000 to $50,000 Budget

➼ Major Room Overhaul: You could undertake a significant kitchen renovation with higher-quality materials or a luxury bathroom remodel at this level.

➼ Adding New Features: This could cover projects like adding a deck, installing new windows, or moderate landscaping.

$50,000 to $100,000 Budget

➼ Extensive Renovations: Homeowners can consider significant structural changes, high-end kitchen and bathroom remodels, or significant exterior work like siding and roofing.

➼ System Upgrades: Includes comprehensive electrical, plumbing, or HVAC updates.

Over $100,000 Budget

➼ Whole House Renovation: With this budget, a complete house renovation cost covering extensive structural changes, luxury finishes, and high-end appliance upgrades is achievable.

➼ Additions and Major Changes: Room additions, extensive landscaping, or even adding a second story fall within this budget range.

What are the highest-value renovation projects for a home? 

Not all home renovation projects are equal in terms of property value added. Some renovations have the potential to significantly increase the value of your home, making them excellent investments. Here are some of the top projects that typically offer the best return on investment.

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Kitchen Remodel

A kitchen remodel is often counted as the most important home remodel project. It's not just about the average cost; it's about the value it adds. According to Remodeling Magazine's 2021 Cost vs. Value Report, a minor kitchen remodel can yield a return of approximately 77.6%. The key is to focus on modern, functional upgrades that appeal to potential buyers.

Bathroom Addition or Remodel

Bathroom projects are also high on the list for valuable renovations. Adding a bathroom can increase a home's value, especially in houses with only one bathroom. A midrange bathroom remodel offers an average return of 60.1%. The cost can vary, but ensuring a blend of functionality and aesthetic appeal is crucial.

Exterior Improvements

Improving the home's curb appeal through exterior renovations like new siding, windows, or an updated front entry can offer significant returns. For example, new vinyl siding can recoup about 68.3% of its cost in added home value.

Energy-Efficient Upgrades

Energy-efficient renovations, such as upgrading to energy-efficient windows or insulation, are increasingly valued by homeowners. These upgrades reduce utility bills and contribute to the house's overall appeal for environmentally-conscious buyers.

Attic or Basement Conversion

Transforming an unused basement or attic into a livable space, such as a bedroom or home office, can provide a high ROI. This type of renovation maximizes the existing space in the home and can be more cost-effective than an addition.

Deck Addition

Outdoor living spaces have become increasingly desirable, making deck additions a valuable renovation project. A wooden deck addition, for example, can recover around 65.8% of its costs.

Additional home renovation tips 

When undertaking a home renovation project, it's essential to approach it with a strategic mindset. Here are some valuable tips to ensure your renovation is both cost-effective and successful:

Start with a Smaller Budget

It's often wise to begin with a conservative budget, leaving room for any unforeseen expenses. This approach helps in managing the average cost to renovate a house effectively, without overstretching your financial resources.

Get Multiple Quotes

Always obtain at least three quotes from different contractors or specialists. This not only gives you a better understanding of the typical home renovation costs but also allows you to compare services, timelines, and expertise. Make sure to check references and previous work to ensure quality and reliability.

Select Comfortable and Reliable Contractors

Choosing the appropriate home remodeling contractor is essential to ensure a prosperous renovation. Select professionals, including contractors, architects, and designers, with whom you feel comfortable and who understand your vision. Their expertise is invaluable in achieving the desired outcome while managing the cost per square foot of house renovation.

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Prioritize Improvements That Increase Home Value

Focus on renovations that offer the best return on investment. Projects like kitchen and bathroom updates, exterior improvements, and additional living space can significantly increase your home's value. This approach not only improves your living experience but also enhances the property's market appeal.

Plan for the Long Term

Consider future needs and how your home can adapt to changing life circumstances. This foresight can save you from undertaking multiple renovations over time, thereby managing the average cost of full house renovation more effectively in the long run.

Understand and Manage Permit Requirements

Be aware of the necessary permits for your renovation project. Navigating this process effectively can save time and avoid legal complications, which can impact the cost to renovate an entire house.

DIY vs. Hiring a Pro 

DIY Approach: Opting for DIY in home renovations can be a budget-friendly choice, primarily reducing the average cost to remodel a house by saving on labor costs, which can range from 20% to 35% of the total project cost. For simpler tasks like painting, tiling, or minor installations, homeowners might spend only on materials, potentially reducing the home renovation cost per square foot to as low as $20 to $50, depending on the quality of materials used. 

However, DIY projects require a significant time investment and can run the risk of errors, which could later require professional remediation, inadvertently increasing the typical home renovation costs.

Hiring a Professional: While more costly upfront, professional services offer expertise and efficiency. Labor costs for professional renovation work typically range from $50 to $150 per hour, depending on the project's complexity and the professional's expertise. This can increase the overall home renovation price per square foot, but the benefit lies in the quality of work, adherence to timelines, and, often, warranties that protect your investment.

For large-scale projects, the average cost of full house renovation with professional help might be higher in the short term but can lead to better quality and longer-lasting results, potentially saving money in the long run.

Ways to Save Money on Home Renovation Costs 

Effective budgeting can significantly reduce the average cost of renovating a house. Here's how you can save money while still achieving a high-quality renovation:

Choose Budget-Friendly Materials

Opting for cost-effective materials can make a big difference. Choosing laminate countertops over granite can result in savings of $20 to $50 per square foot. Similarly, engineered hardwood, which can cost $4 to $8 per square foot, is a more affordable option than solid hardwood at $8 to $15 per square foot, directly impacting the home renovation cost per square foot.

Complete Some Work Yourself

DIY can significantly cut labor costs, which might range from $50 to $100 per hour, depending on the project and location. Simple tasks like painting, which can cost $2 to $6 per square foot if done professionally, or basic installations can be done personally, saving considerable amounts in typical home renovation costs.

Consider Short- and Long-Term Savings

Investing in energy-efficient appliances may cost an extra 10-20% more upfront than standard models, but they can save up to 30% in energy costs in the long run, affecting the average cost of full house renovation over time.

Maximize Space

Reconfiguring existing space is often more cost-effective than building new additions. When renovating a house, removing a non-load-bearing wall is a more affordable option than constructing a new room. The cost of removing a non-load-bearing wall can range from $300 to $1,000 while building a new room can cost between $80 and $200 per square foot. As a result, removing a non-load-bearing wall can significantly impact the average cost per square foot of a house renovation.

Get Multiple Quotes

Gathering multiple quotes can lead to savings. For instance, if the average cost to remodel a house is $20,000, getting various quotes could reveal options ranging from $18,000 to $25,000, allowing for a more cost-effective choice.

Average Percentage Distribution by home renovation Component

When budgeting for a home renovation, it's important to understand how funds are typically distributed. Kitchens often require the most, taking up 15-30% of the budget. Bathrooms and structural changes can also be significant, each ranging from 10-25%. Living spaces like bedrooms and living rooms usually need 5-20%, while essential services like plumbing, electrical, and HVAC might take up 5-20% each. Additional expenses like windows, doors, and demolition, as well as architect or designer fees, generally require 5-20%. Always include a contingency fund, around 5-10%, for unexpected costs.

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How much does it cost to renovate a 2000-square-foot house?

Renovating a 2000-square-foot house typically costs between $40,000 to $200,000. 

How much does it cost to renovate a 1400 sq ft house?

For a 1400-square-foot house, renovation costs usually range from $28,000 to $140,000.

How much does it cost to renovate a 1200 sq ft house?

To renovate a 1200-square-foot house, expect to spend between $24,000 to $120,000. 

How much does it cost to renovate a 1000 sq ft house?

Renovating a 1000-square-foot house generally costs between $20,000 to $100,000. 

Consult a contractor for home renovation?

Embarking on a home renovation project can be an overwhelming task. Therefore, it is essential to consult a reliable and reputable contractor for careful planning and expertise. With their years of experience and expertise, contractors can ensure that your project is completed efficiently and to the highest standards, saving you time and money in the long run. By hiring a contractor, you can have peace of mind knowing that your renovation project is in good hands.

Home renovation contractors like us, “Construct Element,” handle legal compliance, permits, and paperwork while also providing access to quality materials and suppliers at competitive prices. By sticking to a timeline and minimizing downtime, contractors ensure timely completion, allowing you to enjoy your newly renovated home sooner. 

From concept to completion, We work closely with you to bring your vision to life while staying within your budget and timeline, providing professionalism, efficiency, and peace of mind throughout the renovation process.

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