A remodeling job is one of the best ways to increase the resale value of your home. Whether you want to replace an outdated kitchen or fully renovate an older home, you can choose to spend as much or as little as you want. Some of the most valuable projects include remodeling your kitchen or bathroom, where you can see up to a 60%-70% return on your investment.
Determine your square footage. The national average for a remodeling job typically ranges from $18,000 to $75,000. The average cost per square foot for ranges from $15 to $60. When figuring out the cost of your remodel, one of the first things you should consider is your square footage.
To determine the square footage of a room, measure the length and width of a room, and then multiply the figures together.
To determine the square footage of your whole home, add all the rooms together.
Material quality matters.
The quality of materials you plan to use on your remodeling job can play a large role in added costs. If you choose to use more inexpensive materials, remodeling costs will go down, but it may not add as much resale value to your home in the process. If you use higher-end materials, your costs will be larger, but your return-on-investment will be better down the road.
Different rooms have different remodeling costs.
The average national cost to remodel a room in 2019 was $13,500. Some rooms require specialty labor or elaborate furnishings, which can cause a great variance in costs:
Kitchens typically cost $75-$250 per square foot
- Kitchens can be one of the most expensive rooms to renovate, due to the cost of appliances and counter surfaces.
Bathrooms typically cost $50-$250 per square foot
- Bathroom additions can be expensive since they require new plumbing and pricey furnishings like vanities, showers, sinks, and toilets.
Room remodels typically cost $50-$250 per square foot
- Room remodels can vary greatly. A room remodel that requires a new foundation can be much more expensive than an addition that does not require a new foundation.
Basement or storage rooms typically cost $15-$50 per square foot
- Most basements or storage rooms do not require many expensive furnishings. They are mainly used as utility spaces, but they can sometimes become lounge spaces fit with furnishings and electronics.
Your location affects costs.
Remodeling costs vary around the country. If you live in a state or area where housing and labor costs are low, your remodeling costs will be much less than areas with higher costs of living. If you live in an urban or metro area where many contractors are vying for your business, you may be able to compare multiple prices and get the best deal possible.