Budgeting for a Home Remodeling Project? Here’s How Much It Might Cost
Whether you're planning on renovating an entire house or remodeling just one room, we've got everything you need to know about the cost of home improvement projects.
Home improvements can add value to your property and improve its appearance. But before you start planning your renovations, consider what home improvements you want to make and how much you can afford to spend. Take a look at what can be fixed, what needs to be replaced, and where you really need to make major upgrades to your home.
Here are some starting averages to give you an idea of what your next home remodeling project might cost.
The Average Price of a Kitchen Renovation.
According to the National Association of Home Builders (NAHB), the average price of a kitchen renovation project was $48,000 in 2022. This includes labor costs, materials, and other expenses. If you plan to remodel your kitchen, make sure you budget enough money to cover these costs.
One way to save is to shop for your own fixtures, features, and finishes ahead of time.
The Average Price of Bathroom Renovations.
A bathroom renovation can range anywhere from $6,500 to $35,000 or more. However, the average bathroom renovation cost in 2022 was between $25,000 and $35,000.
The earlier you start to plan your project, the better.
Do yourself a favor and reach out to your local home improvement contractor as soon as possible. They can help you plan a comprehensive budget and find all the best deals in bathroom fixtures, vanities, comfort height toilets, flooring, tile, and custom shower enclosures.
The earlier you start planning and securing your building materials, the better your prices will be.
The Average Price of A House Renovation.
According to the National Association of Home Builders (NAHB), the average price of a new home was $445,800 in 2022. And the average homeowner spent approximately $9,500 on renovations throughout the year.
Aside from regular maintenance, most homeowners upgraded at least one bedroom and added dedicated office space. Basement remodels were also super popular in 2022, and the trend was expected to continue well into the future.
Basement remodels are a great way to add living space and incredible value to your home, now and at the time of sale.
The Average Price of An Addition.
If you plan on adding space to your home, you'll likely spend more than $100,000. However, there are ways to save money while still getting what you want from your remodel.
The trick is to plan early and hire a local remodeling contractor who will work with your budget. Homeowner Services of Michigan works with several local budget-minded architects right here in Chelsea, Michigan.
You’re sure to get precisely what you want at the price you can easily afford with HSM.
The Average Price of Flooring Installation.
According to the National Association of the Remodeling Industry (NARI), flooring installation prices range between $2,500 and $3,500. This includes labor costs as well as materials.
Contact the Pros at HSM for an affordable home remodel that you are sure to love!
