Cost to Renovate a House: Is Your Project Worth It?
The cost to renovate a house can range from $15 to $150 per square foot. Many home renovation projects offer a high return on investment.
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The cost to renovate a house can range from $15 to $150 per square foot, depending on scope, size, location and labor. Many popular renovation projects cost under $20,000 for low-end, minor renovations to $190,000 or more for high-end, major projects.
Many home renovation projects offer a high return on investment (ROI) by raising your home’s value. The great news is that it’s not always the most expensive projects that bring the best ROIs. Here are a few renovations that offer excellent returns:
- Garage door replacement: 268% ROI.
- Minor midrange kitchen remodel: 113% ROI.
- Vinyl siding: 97% ROI.
- Adding a composite deck: 89% ROI.
High-end renovation costs
High-end renovations use the most upscale materials and popular trends. National average prices for major projects in this category can easily be in the high five-figures or even well into six-figure territory. Here are the national average prices for popular high-end major renovations.
High-end bathroom renovation
Average renovation cost: $81,612.
Project overview: Expansion of existing bathroom within the house’s original footprint and relocation of all fixtures. Highlights include:
- Freestanding tub.
- High-end faucets/fixtures.
- Ceramic tiles.
- One-piece toilet.
- Spot lighting.
- Heated floors.
- Cabinetry and extended HVAC.
Upscale bedroom suite addition
Average renovation cost: $351,613.
Project overview: Building a 32 x 20-foot bedroom suite over the home’s crawlspace with a full bathroom and sitting area. Highlights include:
- Custom bookcases.
- Built-in storage.
- Walk-in closet/dressing area.
- Fireplace with custom mantle and stone hearth.
- Walk-in shower with dual showerheads and a frameless glass enclosure.
- Separate soaker tub, one-piece toilet in a partitioned area.
- Two sinks in separate custom vanities and large mirrors.
- Hospitality center with an undercounter fridge.
- Bar sink.
- Microwave.
- Custom cabinetry.
Major upscale kitchen renovation
Average renovation cost: $164,104.
Project overview: Replacing all appliances, countertops, cabinetry, fixtures, flooring and features in an existing 200-square-foot kitchen. Highlights include:
- Custom cabinets with built-in sliding shelves.
- Built-in refrigerator.
- Commercial-grade cooktop and vent hood.
- Wall oven.
- Undermount sink with designer faucets and a water filtration system.
- Built-in microwave.
- Stone countertops.
- Ceramic or glass tile backsplash.
- New lighting.
- New flooring.
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Mid-range renovation costs
Mid-range projects may sometimes be as complex as high-end renovations. The difference is that they use standard materials and fixtures rather than luxury ones. Here are the national average costs for some popular mid-range renovations.
Major mid-range bathroom renovation
Average renovation cost: $26,138.
Project overview: Updating the existing 5 x 7 bathroom by replacing existing fixtures, cabinetry, flooring and wall covering. Highlights include:
- Porcelain-on-steel tub with ceramic tile surround and single-lever shower control.
- Standard white toilet.
- Vanity with integral sink.
- Recessed medicine cabinet with lighting.
- Vinyl wallpaper.
- Ceramic tile floor.
Addition of a mid-range bedroom suite
Average renovation cost: $170,517.
Project overview: Building a 24 x 16 suite that includes a bedroom, bathroom and walk-in closet or dressing area. Suite is built over crawlspace. Highlights include:
- Ceramic tile shower and separate freestanding tub.
- Solid-surface countertop with double-bowl sink vanity.
- Carpeted bedroom floor.
- Painting of all non-tiled walls, ceiling and trim.
- Overall and spot lighting.
- Exhaust fan.
Major mid-range kitchen renovation
Average renovation cost: $82,793.
Project overview: Replace most appliances, cabinetry, countertops, fixtures, flooring and features in an existing 200-square-foot kitchen. Highlights include:
- Energy-efficient range with vented hood.
- Dishwasher.
- Built-in microwave.
- Dishwasher.
- Custom lighting.
- Garbage disposal.
- Semicustom wood cabinets.
- 3 x 5-foot island.
- Laminate countertops.
- Stainless steel double sink with single-lever faucet.
- New flooring.
- Painted walls, ceiling and trim.
Minor mid-range kitchen renovation
Average renovation cost: $28,458.
Project overview: Update 200-square-foot kitchen without tearing out cabinet boxes. Highlights include:
- Reface cabinets with Shaker-style drawer fronts, panels and hardware.
- Install new laminate countertops, mid-priced sink and faucet.
- Replace existing appliances with energy-efficient stove, cooktop and refrigerator.
- Install new flooring and paint walls, ceiling and trim.
Lower-cost renovations
Here’s a rough idea of what you might expect to spend on a few less extensive popular projects:
- Bedroom renovation (paint, furniture, closet organization system, etc.): $1,500 to $5,500.
- Living room renovation (paint, flooring, windows, lighting, etc.): $5,000 to $10,000.
- Mold remediation: About $1,200 to $3,750.
- Asbestos remediation: About $1,200 to $3,300.
- Replacing appliances: $200 to $10,000 per appliance.
Gut renovation costs
Remodeling an entire house can cost from $15 to $150 per square foot, and costs are likely higher if you’re working on a historic home. Gutting a house down to the studs and fully remodeling typically costs about $100,000 to $300,000.
Doing a gut renovation could be worth it if you really want to stay in your current location but need major changes and updates to your home. It may also be necessary after emergencies like floods or fires to keep your home safe and structurally sound. It’s a pricey project, but buying a new home could cost much more. Additionally, a gut and remodel can increase your home value and make your entire home fresher, safer and more structurally sound.
Keep in mind, though, that renovating your whole house is a major undertaking that could take a year or more to complete. Even though buying a new house may be more expensive, it also may be less disruptive to your daily life.
What Reddit users say about home renovation
Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like home improvement, so we sifted through Reddit forums to get a pulse check on how users feel about whether home renovations are worth it. People post anonymously, so we cannot confirm their individual experiences or circumstances.
Reddit users who have done home renovations said they were happy with projects that made them more comfortable in their homes. Projects that Reddit users felt were worth it include:
- Installing air conditioning or mini-splits.
- Upgrading insulation/sealing leaks.
- Putting in storm windows.
- Installing a sump pump.
Users also felt good about projects like installing a large deck, putting in hardwood floors, and adding or upgrading a laundry area.
Frequently asked questions
Which home renovation projects might not offer enough return on investment to be worth it?
Some renovations that may not bring a good financial return on your investment include:
- Putting in a swimming pool.
- Installing storm shutters.
- Eliminating bedrooms or bathrooms.
- Any DIY that’s done badly.
Is it cheaper to do a gut renovation or tear down your home and rebuild?
A gut remodel can be 20% to 50% less expensive than a teardown and rebuild. However, if your home has major foundation issues, structural problems, or outdated plumbing, electric and HVAC, a teardown may be the cheaper option.
Are there any home renovations I can do for $1,000 or less?
There are lots of ways you can give your home a facelift on a very limited budget. Here are a few projects that should fit within a $1,000 budget:
- Install a new kitchen backsplash.
- Spruce up a room with a coat of fresh paint.
- Change out your cabinet hardware.
- Replace, paint or refinish your front door.
- Plant new trees, shrubs or flowers in your yard.
- Replace a sink and faucet.
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