How do I Build a Renovation Budget?

Kitchen Remodel, Hanover
Kitchen Remodel, Hanover

Remodeling can be a large undertaking. There are a lot of decisions and money that goes into your project. Our team can guide you thru the planning process. Once you have an idea of the type of project you are ready to start you need to consider how much can and want to invest in your budget.  

In remodeling, prices can vary greatly on a project-by-project basis. Everything is custom and special because no two remodeling projects are alike. No two homes are alike, no two yards are alike, no two homeowners are alike, and pricing is constantly changing. Unlike new home building, everything is subjective-from estimating, to finish choices, to how long something should take to complete.

In addition to reviewing Remodeling Magazines Cost versus Value Report, which has great information for costs in our area, below are some basic budgets to help you gain a feel for the cost of some of our basic and higher end project costs. Don’t forget that these are ranges based on past work that we have completed. Every project and its related costs are unique.

Kitchen Renovation Budget Ranges

Basic: $28,000                    Mid-range: $79,000         Higher End: $158,000

Bathroom Renovation Budget Ranges

Basic: $28,000                    Mid-range: $42,000         Higher End: $82,000

Deck Renovation Budget Ranges

Basic: $10,000                    Mid-range: $18,000         Higher End: $25,000

Basement Renovation Budget Ranges

Basic: $25,000                    Mid-Range: $45,000        Higher End: $100,000+

Understanding the levels of finish:

Basic: No major framing would be included in this scope of work. No Custom Items, all stock items. This is where you would find your basic entry level grade selections. Appliances and fixtures would remain in the same locations. Flooring selections might include laminate or vinyl. Decking stock might include Pressure treated lumber.

Mid-Range: This level might include some minor framing. Upgraded allowances for fixture and finish selections over the basic level. Fixtures and appliances still might stay in the same location, or may move slightly. Flooring options might now include Hardwood or tile. Countertop options may now also include a Granite or Quart, and decking might include a composite option.

Higher End: Projects in this budget range typically include framing changes, fixture or appliance relocation, more semi-custom and custom options, finishes and fixtures. Flooring options would include hardwood and tile, and decking options would include PVC composite options

What about a large renovation or addition?

It’s difficult to give budget ranges without more information. Spaces that are the same size can vary widely depending on the existing conditions, size, building materials, and finish preference. Our team likes to approach these projects thru a collaborative process with you, designers, architects. By helping you navigate and work with your design team we can talk about budgeting options and potential design issues from the start avoiding costs changes later on.

If you have questions Home Improvement project, please let my team know. Our team has been working with families like yours for over 60 years. And it is important to us that everyone works together to create the best possible experience. If you have questions about your home improvement project, please let us know. (781-826-2577)

Almar Building & Remodeling Co (Hanover Ma). As a third-generation family owned and operated company for over 60 years Almar Building has all the benefits of a small company with the options of a larger company. From Additions, Kitchens, Bathroom, Basement Renovations, Siding, Windows, to Doors Almar services the entire South Shore of Massachusetts including: Hanover, Hingham, Pembroke, Norwell, Scituate, Cohasset, Duxbury, Hanson, Abington, Rockland, Holbrook, Braintree, Weymouth, Milton. Building a Renovation Budget.

2020 Cost V Value Report, Boston

Craig Guido

With 20 years of remodeling experience both in the field and working in collaboration with homeowners to develop remodeling projects designed to fit your lifestyle.