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Cost

With a remodeling project, renovation rates and construction costs do not lend themselves to accurate evaluation. Only explicit estimates from professional contractors provide an almost accurate picture of what our remodeling budget should stand at.

While researching for suitable contractors, you will receive many bids for your remodeling project. Once you accept a quote which suits your budget, always add about 12% overrun. Budget overruns within remodeling or construction projects are common, and prior preparation of added costs will save you unnecessary stress once the final bill arrives.

Factors which can bump up renovation costs and construction rates, and thereby expand your remodeling budget beyond your estimation:

National averages can't account for budget overruns, but they can provide you a helpful range of budgets for most popular remodeling projects in US:

Midrange Projects Job Cost ($) Resale Value ($) Cost Recouped (%)
Basement Remodel 61,011 44,467 72.9
Bathroom Remodel 15,899 11,857 74.6
Deck Addition 10,000-15,000 8,000-12,000 73-82
Family Room Addition 81,315 53,608 65.9
Major Kitchen Remodel 56,611 43,030 76
Minor Kitchen Remodel 21,246 16,881 79.5
Roofing Replacement 18,825 12,336 65.5
Sunroom Addition 71,745 40,715 56.7
Window Replacement 10,000-12,000 8,000-9,000 77-78
Upscale Projects
Bathroom Remodel 51,455 36,400 70.7
Major Kitchen Remodel 110,964 78,398 70.7
Roofing Replacement 36,296 22,861 63
Window Replacement 13,000-18,000 10,000-13,000 76-79
Deck Addition 37,498 23,706 63.2

(Source: 2008-09 Cost vs Value Report)

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