Anticipating remodeling costs for your home

Adding extra cash to the total of your remodeling costs will keep you on the plus side of things.
Anticipating remodeling costs for your home
If you are headed for a large remodel project, be realistic and remember that the job will most likely take longer than planned.
Foto: Shutterstock

Whether your home is new or previously lived in, at some point you may want to make changes. These changes can be simple décor alterations that include a little elbow grease and a few cans of paint, or they can be larger projects that require an architect and a fair sum of money. Either way, knowing your potential remodeling costs can help you save in the end.

The most expensive remodeling projects

Kitchens and bathrooms are the most common places for homeowners to begin when they’re seeking a noticeable change. Not only will improving your kitchen and bathrooms offer greater enhancement and efficiency for those who use them, they also will bring the highest return if you sell your house.

Personal taste, more than anything, will determine the remodeling costs in your kitchen and bathroom. Reinventing your entire kitchen with new cabinetry, spiffy hardware, durable flooring, modern appliances, and natural rock countertops will cost a lot of money. If you take this project even further to include enlarging the room and replacing the windows, your remodeling costs could be significant.

The same will apply to the bathrooms in your home. Replacing old tubs with modern versions that include beautiful taps and updated plumbing can cost a lot. New toilets, bathroom sinks, and vanities, not to mention any tiles or flooring changes, will also add to your remodeling costs.

Common remodeling changes

When considering a remodeling job on your home, make a point of learning about the value of the other homes in your neighborhood first. If you price yourself out of the neighborhood, you may well take a loss on your home’s renovations and swallow all your remodeling costs.

Some of the most common home renovations include window replacement, the addition of vinyl and fiber-cement siding, minor kitchen remodeling, low-cost landscaping, and the addition of a wooden deck, which can add a substantial amount of value to a home.

If you are headed for a large remodel project, be realistic and remember that the job will most likely take longer than planned and cost more than you anticipated. Whether you’re financing your project or you’ve saved for it, adding extra cash to the total of your remodeling costs will keep you on the plus side of things and ensure you have budgeted enough to complete all your projects.