Whether you’re renovating a fixer-upper or finally redoing your home like you imagined when you bought it, renovating a home comes at a cost. Though you can see your dreams turned into reality, you must set aside a decent chunk of money.
Different kinds of renovations come with different costs; everything from the materials you use to the place you live can determine the price.
Below, we’ve summarized some cost estimates for different home renovations. Read on to find out more.
When Is The Right Time To Renovate Your Home?
Before you decide on your home renovations, you must ensure it is the right time to do so. Many factors can affect when you should renovate your home. These include:
- When you’ve got the money – If you don’t have the cash, you will not get very far!
- The weather – For some home renovations, like landscaping, you will need to wait until the weather permits working on the renovation.
- Time – Have you got the time to manage a home renovation? Will it disrupt your day-to-day life? Different home renovations will come with various problems (i.e. if you’re renovating your kitchen, you’ll need to find ways of feeding the family without a working kitchen!)
What Are Some Reasons Homeowners Renovate Their Homes?
There are many reasons that homeowners choose to renovate. These could include:
- They have just moved in and want to make changes
- They’re moving out in a few years and want to increase the property value
- They want to upgrade their home by fitting newer, more efficient appliances
- They want to reduce energy costs by installing efficient windows and doors
The Costs Of Home Renovations
Home renovations will cost a lot, there’s no doubt about it, but many factors affect the price, including the type of renovation you’re embarking on. Take a look below to see cost estimates for different kinds of renovations
Full Home Renovations
A complete home renovation is a considerable undertaking and will cost a lot. Most estimates range from $5,000 to $200,000 and is affected by what you’re planning to do. If it’s a paint job and new flooring throughout, it will be much cheaper than rebuilding from scratch.
Kitchen Renovations
Kitchen upgrades are great for improving your home’s efficiency but will require you to save up a bit of cash. Estimates range from $15,000 to $30,000 for the entire project.
Updating your kitchen can help to improve your property’s value, but the price will be affected by the appliances you choose, the materials you’re using, and the size of your kitchen.
Bathroom Renovations
A bathroom upgrade can cost from $5,000 to $15,000. If you’re updating the en-suite, it will cost a lot more than redoing the family bathroom.
Expanding Your Home
Expanding your home can add more space for you and your family and may be required if your family is still growing! Extensions can be one or two stories and may include sunrooms, garage expansions, and loft conversions.
The price of a home expansion depends on what you’re planning to do. Because of local regulations, you may find your budget restricts you. At the higher end of the estimate, a home expansion can be around $300 to $400 per square meter.
Renovating Flooring
Hardwood, laminate and vinyl floor can cost $5,000 to $10,000 per square feet. This include the removal of old floor and installation of the new one. Ceramic floor can cost around $15 to $25 per square feet depending on the complexity of the floor.
Patio/Deck Installation
Patio and deck installations can overhaul the image of your garden. A deck will likely set you back around $5,000 to $10,000, whereas complete landscaping costs around $20,000 to $30,000.
As with all the home renovations we’ve discussed, price is affected by everything from the size of the space you’re renovating to the materials you’re using.
Buy Or Sell Your Home With The Bansal Team Today! Be Sure To Give Us A Call!
Are you looking for Pickering real estate to renovate? Here at Bansal Team, we’re dedicated to helping buyers in the Pickering area to find the properties of their dreams. Get in touch with Bansal Team today to work with Pickering REALTORS® with a ton of experience and excellent customer service!