The True Costs of Home Remodeling: What to Expect
The True Costs of Home Remodeling: What to Expect
Home remodeling is an exciting investment that can improve functionality, increase property value, and transform your living space. However, one of the biggest concerns homeowners face when considering a remodel is cost. Understanding the factors that influence remodeling expenses can help you plan effectively and avoid unexpected financial surprises.
What Determines Remodeling Costs?
Several key factors impact the overall cost of a home renovation project:
Scope of the Project – A small bathroom update will cost significantly less than a full kitchen remodel or a whole-home renovation. The more extensive the changes, the higher the cost.
Materials & Finishes – Your choice of materials—whether it’s high-end marble countertops or budget-friendly laminate—plays a major role in pricing.
Labor Costs – Skilled labor is essential for quality work. The complexity of the job, the number of trades involved (carpenters, electricians, plumbers, etc.), and the region you live in all affect labor costs.
Permits & Regulations – Some remodeling projects require permits, inspections, and compliance with local building codes, adding to the cost.
Unforeseen Issues – Older homes may have hidden problems such as outdated wiring, structural issues, or plumbing concerns that only become apparent once demolition begins.
Estimated Costs of Common Home Remodels
While every project is unique, here are some GENERAL PRICE RANGES for common home remodeling projects:
Kitchen Remodel: $45,000 – $175,000+
Minor updates: $10,000 – $25,000
Mid-range remodel: $30,000 – $75,000
High-end remodel: $130,000 – $200,000+
Bathroom Remodel: $15,000 – $80,000
Minor updates: $5,000 – $15,000
Mid-range remodel: $15,000 – $30,000
Luxury remodel: $30,000 – $50,000+
Whole-Home Renovation: $75,000 – $200,000+
This depends on the square footage, structural changes, and level of finishes.
Basement Remodel: $25,000 – $75,000
Costs can rise if adding a bathroom or kitchenette.
Room Addition: $50,000 – $150,000+
Expanding square footage requires foundations, zoning ,framing, insulation, electrical, plumbing, and finishing materials, making it a costly investment.
How to Stay on Budget
Remodeling costs can escalate quickly if you’re not careful. Here are some tips to keep your project on track financially:
Set a Realistic Budget – Understanding what you can afford is a very important fact most homeowners don’t consider before looking for contractors. This is why “Sticker Shock” is common place. Knowing your budget and having an idea of general costs is crucial. * Factor in a 10-20%+ contingency fund for unexpected expenses.
Prioritize Needs vs. Wants – Identify must-have features versus nice-to-have upgrades.
Get Multiple Quotes – Work with reputable contractors and compare estimates.
Plan Ahead – Making changes mid-project can lead to costly delays and additional expenses.
Choose Quality Over Trends – Investing in timeless, durable materials will pay off in the long run.
Final Thoughts
Home remodeling is an investment that requires careful planning and budgeting. Understanding the costs associated with different projects will help you make informed decisions and achieve a successful remodel that meets your needs and financial expectations.
In some cases homeowners choose to spend more on their renovation than they could get in return in selling (we’ll save that deep dive for another article.)
Are you considering a home renovation? Contact Built In RI today for a free assessment and personalized estimate!
