As urban communities gets denser and denser, the availability of parcels of land gets lesser and prices gets higher. That makes building homes entirely from scratch downright expensive and impractical. To counter the scaling of modern prices, prospective homeowners now opt instead to buy existing properties with ideas of remodeling.
A smart move that, since remodeling cost is substantially lower than the building cost of a new property. So much can be reused or sold for scraps and that can still contribute even if somewhat mediocre, to the overall project cost. Nails, old planks of wood and even fixtures and old accessories, bundled together can still heave a hefty price in the second hand market.
So from the cheapest to highest, what’s the scale of remolding costs? Costs are dependent on several factors. The existing market of materials, the quality of the materials used and the strength of the currency are the defining factors for remodeling cost. While most remodeling projects are subcontracted, remodeling is fast promoted as DIY projects by popular hardware suppliers like Home Depot, and this have a substantial effect on the cost.
Kitchen, bath and bedroom remodeling is perhaps the most common route for remodeling. In fact properties that have the most chances in the customer market always rank more than average on these home hotspots. Likewise, improving on these areas would also result in a higher sale value. Exact remodeling costs are very elusive. Even if similar materials and designs are used, some factors like the present day tax, labor fees and construction length adds (or subtracts) the overall cost, further making remodeling costs estimates inaccurate. So it’s best to have a budget overrun by several percent, to be safe. Here’s a data for remodeling cost on the three most popular rooms.
Kitchen Remodeling Cost: $30,779
Remodeling includes replacement of sink, faucet, cabinet doors, oven, cook tops and counter tops. In addition, laminating on wood surfaces of cabinet doors and counter tops, repainting are done. Also added are a microwave, lighting, and an island table.
Bathroom Remodeling Cost: $9,044
Remodeling includes replacement of a new tub, toilet, lighting and tiles, also added a vanity and a medicine cabinet.
Bedroom Remodeling Cost: $42,398
Remodeling three bedrooms, added walk-in closet, whirlpool tub and a separate shower in the 24×16 feet master suite.
While the remodeling costs tend to differ in various instances, the data shown above should give a rough estimate, provided you do as what the estimates suggest. The remodeling cost data should also say that planning for a room remodel with only $7,000 is hardly feasible.
So plan ahead.