Whether you do it yourself or hire a renovation contractor, renovating a home can be expensive. In fact, the
cost is the main thing most homeowners worry about when considering a home renovation. If
you’re a new homeowner who still doesn’t know how expensive home improvements can be,
you may be surprised by the unexpected costs, delays, and other things that can occur during a
home improvement project.

Factors that determine Home Renovation Costs

Below are some factors that influence the cost of home renovation:

● Age & condition of the house
Renovating an old house can come with higher costs, like replacing old lead pipes with modern
materials, changing old knob-and-tube-wiring, and getting rid of asbestos materials that have
accumulated over the years.

● Size of the house
A homeowner will spend more money renovating a larger home space than on a smaller one.

● Parts and materials
The quality of the materials to use can also influence the cost of home renovation, but you need
to make sure you don’t ruin the whole project itself because of budgeting.

● Home renovation contractor
Home renovation cost also depends on the contractor you choose to work with. Although it will
cost you more money to hire a reputed, trusted renovation contractor, you can secure a home
renovation loan to offset the costs so that the job can be done perfectly.

The estimated cost of home improvements

● Kitchen Renovation Cost: $50,000 – $90,000
A new Trulia survey shows that most homeowners looking to remodel their homes want to work
on their kitchens. Based on the level of renovation needed, the cost of kitchen renovations can
range from $50,000 to $90,000. As a homeowner, you should budget 10-15 percent of the total
renovation costs for kitchen remodelling.

● Bathroom Renovation Cost: $25,000 – $50,000
The bathroom is the second place most homeowners who want to renovate like to spend on. You
should expect to spend around $25,000 to $50,000 on bathroom renovations, depending on
things like updates to the toilet, shower system, bathtub, sinks, tiles, faucets, etc. Plus, a
bathroom renovation can include electrical work, plumbing, and even destroying walls to change
the bathroom layout.

● Bedroom Renovation Cost: $15,000 – $30,000
The cost of renovating a bedroom will depend on the level of renovation needed and how you
want your home to look like. With improvements like painting the walls, swapping carpet for
hardwood, or just changing the overall appearance of your bedroom space, you can expect to
spend around $15,000 to $30,000 on bedroom renovation alone.

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