Total Makeover: Whats The Cost Of Gutting A Home And Remodeling
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Most home renovation shows would have you believe that gutting and remodeling your house is as simple as a 30-minute programming block. Draft up some pretty designs, get crazy with a sledgehammer, lay some tile, and bam your dream house is complete.
The reality is a little more complicated, not to mention pricey. According to HomeAdvisor, a full home renovation costs $150,000 on the high end, and that doesnt account for unexpected bumps along the way. To give a better picture of the cost of gutting a home and remodeling than what you see on your favorite flip show, this guide features:
- An overview of high-level costs from multiple sources
- A real-life total home makeover estimate
- Key budgeting factors to consider
- Cost estimates for each major house component
Home Renovation Costs: Kitchen
The kitchen will be one of the most expensive areas of renovation in your project. The cost to gut and redo a house is greatly affected by the work required in the kitchen. On average, kitchen remodels will cost around $25,000 or $150 per square foot. The range is quite wide, with homeowners spending between $4,000 to $60,000 depending on the projects size and scale.
The most expensive part of a kitchen remodel will be the cabinetry and hardware that will make up for around 30% of the total budget. You have various options for your cabinetry that vary significantly in their prices. Stock cabinets cost between $100 to $300 per linear foot, with semi-custom ones priced between $150 and $650. Custom cabinets are more expensive due to the intricacies required and will cost around $500 to $1,200.
Countertops are also a significant part of a kitchen redesign and account for over 10% of the kitchen renovation budget. Various materials can be used according to your preferences. Each type of material will have a different price and will have its own pros and cons. Stone countertops cost between $4,000 to $7,000 and are considered high-end work. Concrete is also a reliable choice with great design options that cost around $2,500 to $5,500. Solid and laminate surfaces have similar prices and are good, cheap options. They will set you back $1,000 to $3,000.
Should You Gut Your House
For the avid DIYer, perhaps nothing is more exciting than home remodeling. Restoring this, fixing that the projects are limitless. But what if a fixer-upper turns out to be a little more than bargained for? Lets explore the topic a little further, specifically the costs associated with gutting a house and the key factors youll need to know before you get started.
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Questions To Ask Remodeling Contractors
Get free estimates on HomeGuide from trusted home remodeling contractors:
- Paxton, Albert S. “2019 National Repair and Remodeling Estimator.” . PDF file.
- Tyler, Mark C. “2019 National Electric Estimator.” . PDF file.
- Hicks, Ray F. 2019 National Home Improvement Estimator. . PDF file.
- Pray, Richard. “2019 National Construction Estimator.” . PDF file.
- Gleason, Dennis D. 2019 National Painting Cost Estimator. 2019. PDF file.
- Actual Project Costs Reported By 3,130 HomeGuide Members. .
- How Long Is That Remodel Going to Take? .
Cost To Completely Renovate A House
The average cost to completely renovate a house is $15,000 $200,0004. Depending on the characteristics of the build, the price can change drastically. The final price tag typically depends on any structural or mechanical repairs, square footage, underlying issues, location and materials used.
Depending on their characteristics, remodels will fall under one of three types of categories: high-end, mid-range and low-end.
- High-end: These are major renovations with designer materials and high-end products.
- Mid-range: Typically, these are renovations for projects typical in second homes with mid-range products and materials.
- Low-end: Remodels with minor upgrades typically found in starter homes are considered low-end, many of which are self-funded or DIY, and use low-end products.
Below youll find the national averages of high-, mid- and low-end costs for popular renovations. The calculations include the return on investment to the nearest percentage based on Remodelings 2021 Cost vs. Value Report5.
Renovations With The Highest Return On Investment
Whether you are looking to remodel an investment property or your own house that you may want to sell at some point, its smart to invest into those remodels that have the highest return on investment ROI.
Among remodels with the best ROI are the ones that greatly increase the curb appeal and functionality of the house.
The table below details the average ROI you can expect to get from top house remodels.
|Build A Patio||46 47%|
When it comes to exterior remodels, siding replacement and roof replacement bring in the highest return on investment.
According to the Remodeling Magazines Value Report replacing old siding can bring as much as 79% ROI, while installing a new roof can bring in as much as 109% !!!!
All of these renovations bring in 70-85% ROI. If replacing your siding is too expensive, consider painting it, as this will be a quick and budget friendly way to improve the homes curb appeal.
In terms of interior remodeling, repainting is hands down the most effective way to boost the value and appeal of the home, without spending too much.
Of course, bathrooms and kitchens top the list of remodels with the highest return on investment, giving back at least 69-75% of what you spent. Often, the returns on kitchen and bathroom remodels can be as high as 80-85%
Hit The Recycling Center
Do-it-yourselfers can reap big savings with recycled or lightly used fixtures and building materials. Habitat for Humanity operates about 400 ReStores nationwide, which offer salvaged materials at half off home-center prices.
One caveat: Many contractors won’t work with salvaged items, or homeowner-supplied materials in general, because they don’t want to assume the liability if something goes wrong.
That said, if you’re doing your own work, you can find anything from prehung doors to acrylic skylights to partial bundles of insulation.
- Price of 4-by-5-foot insulated window in a home center: $600
- Price at ReStore: $300
- Saved: $300
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Home Renovation Cost Estimator Spreadsheet
Your home renovation costs will vary depending on your preferences. By using the home renovation cost estimator spreadsheet, you can easily fine-tune your budget to put your money toward what means the most in your home.
- Step 1: Consider how youre going to finance your remodeling project. You can refinance your home for tax-free funds, apply for a construction loan or pay out-of-pocket.
- Step 2: For each project, copy the spreadsheet onto its own tab. Then estimate the prep work including inspections, design and permit costs.
- Step 3: Once your prep work is estimated, begin sourcing vendors and getting estimates for your project and adjust as needed.
- Step 4: Once your estimated costs are calculated and work begins, log the actual cost in column E. If needed, adjust your budget and log your outstanding balance accordingly.
Need cash to fund your renovation project?
Apply for a refinance and see how much you can get.
How Much Does It Cost To Completely Gut And Renovate A House
There is no straightforward answer to how much money it needs to gut and renovate your house completely. Several issues can affect your house renovation costs. For example, the age of your property, the material you use for gutting, and the size and layout of your house determine how much money you need to renovate your home.
Moreover, apartments and farmhouses need a different genre of the gut, hence the money difference. However, I will try to give you some idea of what to expect.
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Gut And Remodel Cost Per Square Foot
Fully gutting and remodeling a house is most expensive, and is pretty much equivalent to build a new house. Costs range from $100 to $200 per square foot depending on the size of the home and complexity of remodel involved.
This includes all demolition work, structural and foundation work, permits and dump fees. If you have a 2,000 sq.ft. home, a gut remodel will cost at least $100,000.
Typical Cost Of A Complete Home Renovation
First, you cant ignore the costs. How much you have in your budget will dictate whether you go through with a full gut renovation or not. Another big factor will be whether you have the patience or the time to be displaced for up to a year while the project is going on. But more on that later.
For now, the bottom line:
- Low : According to Realtor.com, this is what a small remodel including interior and exterior painting, small repairs and new landscaping would cost you. Keep in mind, these are national averages.
- Medium : This is what a more involved remodel would cost, including the low-cost upgrades listed above, as well as a total kitchen remodel and minor bathroom remodel.
- High : This is what a high end remodel would cost you, including the cost of the above low- to medium-cost upgrades, plus repairing any foundation issues, and roof and sewer line problems.
- Total gut to the studs and remodel: This will cost you between $100,000 and $200,000, according to HomeGuide. Whole house renovations, in general, cost $15 to $60 per square foot, but if you were to only remodel a kitchen or bathroom, this will run $100 to $250 per square foot.
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Make Sweat Equity Count
Unless you’ve got loads of time to spend on your project, the best way to add sweat equity is up front, by handling your own demolition, or at the back end, by doing some of the finish work yourself.
“If you want to save money, dig in and start helping out,” says Tom Silva. “You can insulate, you can paint, you can sand.” Or better still, he says, help with cleanup every day. “Instead of paying someone to pick up sawdust off the floor, put your money into the time it takes to trim the window properly,” he advises.
- Cost for construction crew to handle cleanup: $200 per day
- Cost to do it yourself: $0
- Saved: About 3 to 5 percent of the overall job cost
Full Gut Home Renovations: Are They Worth The Money
Whether your home is very old and in desperate need of a makeover, you just bought a fixer-upper, or you need to accommodate a growing family, you may be considering a whole-house renovation or full-gut home renovation. They sound like a big deal, and thats because they are. They take a lot of time, money and resources to achieve, leading many people to wonder: should I just move to a new home? Or should I bite the bullet and completely gut my house to start over?
The first step is to consult with an experienced Boston general contractor you can trust to get advice on your unique requirements, needs, plans and budget. Deciding on a full home remodel is a highly personal decision. What may be good for one family may not be for another. Lets go over the pros and cons.
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What Is The First Thing To Do When Remodeling A House
Many homeowners facing a whole house renovation, wonder where they should start remodeling first.
The answer really depends on your budget, the extent of the renovation you are looking to do, your time frame, and whether your are renovating to sell or to live in this house.
However, here are a few general ideas to get you started on a solid remodeling plan:
1. The first thing you should do is fix any problem areas the house may have. These most likely were discovered and discussed during the inspection, prior to the sale of the home.
Serious problems that need to be addressed right away are a leaking roof , mold, any water damage, structural problems, very old or damaged windows, issues with heating, cooling, water heater, furnace, etc.
2. Once you take care of problem areas, or if you are lucky and the house doesnt have these, you can move on to the phase of improving the look and enjoyment of your new home.
At this point, most folks choose between remodeling a bathroom or the kitchen.
You can always do both, if you have the cash flow. Keep in mind that doing a full kitchen remodel will cost at least $10,000 more compared to a full bathroom remodel.
If you are strapped for cash, consider doing more cosmetic updates in the kitchen and bathroom, such as fresh paint, replacing sinks, hardware, refacing cabinetry, as opposed to replacing them.
4. Next, consider replacing flooring in the entire home, or just rooms that have floors that are in bad shape.
How Much Does A Kitchen Remodel Increase Home Value 2021
For example, a kitchen renovation may cost from $5,000 to $50,000 depending on the appliances and finishes you choose. Experts in home improvements recommend 5% of the value of your home should be in your kitchen. So if your home is worth $500,000, you could consider spending up to $25,000 on your kitchen.
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Benefits Of Renovating Your House
- Renovations often cost less. A well-planned renovation project can cost a lot less than upgrading to a new home. You can also renovate in stages, so the financial outlay can be spread over a longer period of time.
- Achieve your perfect look. Theres nearly always some kind of compromise when buying a new home, whereas renovating means you can personalise everything. Youll be able to achieve all the special touches and home improvements to make your ideal home.
- Keep enjoying your home and neighbourhood. Renovating means you can keep living in the home and area that you know and love. Therell be no adjusting to a new house, new commute or new neighbours.
Living Rooms And Bedrooms
Fortunately, living rooms and bedrooms are two projects that will go easy on your remodeling budget. Typically, unless youre planning on reconfiguring the layout of the property these rooms only need new flooring and interior paint. HomeAdvisor estimates that the average living room renovation project will cost between $1,500 and $5,500. Meanwhile, a bedroom remodel costs even less, averaging between $1,500 and $3,500.
With that said, if you have designs of adding an entirely new master bedroom suite to the property as an addition, youll be in a whole new cost bracket altogether. The 2019 Remodeling Impact Report rates this project as one of the most likely to appeal to potential buyers. However, it may be best to proceed with caution. After all, the remodeling experts report that this project can cost a total of $150,000, on average.
Things tend to get even more expensive if you add a fireplace into the mix. At that point, the survey from the National Association of Home Builders estimates that you can expect to spend an additional $1,867 on materials and labor.
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The Challenges Of Remodeling Your Whole Home
Gut remodeling does present certain challenges. Usually, these challenges are related to the variables of each unique home. As we observed earlier, not every home needs a complete replacement of all internal systems but many do. Remodelers can never be 100% certain about everything they will uncover during demolition. But that said, there are methods for ascertaining what youre likely to encounter. At New England Design and Construction, we carefully ascertain the unique needs of each home during our pre-design phase to enable strategic remodeling and accurate cost estimates, eliminating major surprises.
Should I Renovate My House Or Move
If youre a homeowner considering a house renovation project, chances are youve asked yourself: should I renovate my house or move?
Whether you need more space or a better layout for your home, renovating your existing house and moving home can both offer good solutions. Here are some of the pros and cons of renovating vs moving.
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Ways To Cut Costs On Your House Remodel
Home renovation costs can add up quickly. Here are a handful of ways you can plan for a cheaper remodel.
Busting the budget is everyone’s biggest fear when it comes to home remodels. And with good reason.
Even if you follow the essential advice we’ve been doling out for yearsbuild in a 20 percent cushion to cover the nasty surprises, get contractor references and check them, banish the words “while you’re at it” from your vocabularyit’s hard not to end up shelling out more than you want to.
With some strategic thinking about design, materials, and timing, you can cut costs without cutting corners. Below, we’ll show you the ways, from the big to something as small as choosing a wall sconce over a recessed light.
But another universal truth about home improvement is that every little thing adds up. So another important consideration to start with is to decide whether or not to demolish the whole house and start from scratch.