Remodeling Cost Estimates

Average cost to remodel & renovate a space

The average cost to remodel a house depends on the room(s), home’s size, quality of materials selected and if any structural changes are needed. Whole house renovation costs $15 to $60 per square foot on average.

Whether you’re a real estate salesperson, investor, or homeowner, this guide provides an accurate starting point to create a realistic home renovation budget.

Home renovation cost estimate

When estimating home renovation costs, the main factors are square footage, age, location, property’s condition, which rooms are being remodeled, structural changes, and the quality of materials selected.

Type of RenovationAverage Cost (Low End – High End)
Kitchen Remodel$20,000 – $80,000
Bathroom Remodel$10,000 – $60,000
House Exterior$6,000 – $20,000
Roofing$5,000 – $11,000
Bedroom/Living Room$2,000 – $10,000
Basement$20,000 – $100,000
Deck / Stairs$2,000 – $20,000
Doors, Windows (Egress)$1,000 – $20,000
Additions$40,000 – $140,000
Sheds / Detached Garage$5,000 – $25,000
*any structural changes made to the layout or unforeseen damages add significantly to the overall cost.

Home renovation budget

When calculating your home renovation budget, organize projects by room, and build a specific budget around each.

How much should I spend on house renovations?

Experts advise setting a budget of 5% to 15% of your home’s total value for remodeling a kitchen or basement and 1% to 7% when remodeling bathrooms, bedrooms, or living rooms.

To maximize resale value, avoid spending more than 20% of your home’s worth on the total renovation costs.

Area% of overall house value
Master Bathroom5-7%
Guest Bathroom / Powder Room1-4%
Master Bedroom1-3%
Attic conversion into finished room10-15%
Basement conversion into finished room10-15%
Living Room1-3%
Dining Room1-3%
Patio / Deck1-5%

Hiring a home remodeling contractor

Before hiring home remodeling contractors near you, plan accordingly, ask questions, get multiple quotes, and learn the process of working with designers and remodelers.

Getting house renovation quotes

Before hiring a contractor and signing a contract, be sure to:

  • Get at least three estimates to compare.
  • Ask for recommendations from family, friends, and neighbors.
  • Read reviews and check out their previous work.
  • Pick specialized contractors over general ones if it’s a specific project.
  • Ask for a full itemized contract in writing in case of a dispute.
  • Avoid making large payments upfront. Never pay in full or in cash, and come up with a payment schedule for work completed.

Remodeling return on investment

Most remodeling projects have a 50% to 85% return on investment. The top remodeling projects that return more than 85% of your investment are siding replacement, garage door replacement, a new bathroom addition, and replacing windows and roofing.

RemodelReturn on Investment
Garage Door Replacement98-99%
Siding Replacement77-97%
Roof Replacement70-90%
Window Replacement70-90%
New Bathroom Addition55-87%
New deck addition75-83%
Kitchen remodel54-80%
Basement finishing54-70%
Bathroom remodel57-64%