How much does it cost to remodel a home completely?

A home renovation project can be complex or simple and can sometimes turn into a real home remodeling adventure. The point is, it's impossible to get the right price for every home remodeling project, in every small town, in a country of 320 million people.

How much does it cost to remodel a home completely?

A home renovation project can be complex or simple and can sometimes turn into a real home remodeling adventure. The point is, it's impossible to get the right price for every home remodeling project, in every small town, in a country of 320 million people. However, fireplace remodeling is not part of every house renovation and you don't need to break the budget. Only one in five homeowners finishes their home remodeling under budget, so it's smart to increase estimates by 10-15 percent in case of unexpected renovation costs.

Calculating the cost of renovating a home can be complex, but here are the main factors in determining how much it could cost you to renovate your home. If you have just moved into the home you plan to remodel, consider using an FHA 203k home improvement loan. By using the Home Renovation Cost Estimator spreadsheet, you can easily adjust your budget to put your money toward what it means most to your home. In addition, loans from family members can be considered gifts by the IRS and therefore may be taxable, so it is wise to discuss this method of financing a home remodeling with a tax professional before proceeding.

Since you could recover up to 80% on some remodeling projects, it's best to invest enough to meet your lifestyle requirements while keeping your home's value close to surrounding home values. A renovation project can take anywhere from a few days to a few months, so you may want to plan your home remodeling schedule accordingly. As mentioned above, there are many options to cover the remodeling costs of a complete home renovation. Experts recommend setting a budget of 5 to 15 percent of the total value of your home to remodel a kitchen or basement and 1 to 7 percent when remodeling bathrooms, bedrooms, or living rooms.

Before starting any home remodeling project, check with your local authorities to determine what permits you will need. Remodeling can be expensive, but investing money in your home can increase the value of a higher ROI when reselling. Rooms with cabinets and appliances think bathrooms and kitchens tend to be the most expensive and are often where a home remodel budget can go awry. Most home renovation programs make you believe that gutting and remodeling your home is as simple as a 30-minute programming block.

Kristin Durley
Kristin Durley

Wannabe tv practitioner. Professional pop culture evangelist. Lifelong creator. Unapologetic twitter nerd. Infuriatingly humble zombie expert.

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