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 Renovation | Average 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 |
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 |
| Kitchen | 5-10% |
| Master Bathroom | 5-7% |
| Guest Bathroom / Powder Room | 1-4% |
| Master Bedroom | 1-3% |
| Attic conversion into finished room | 10-15% |
| Basement conversion into finished room | 10-15% |
| Living Room | 1-3% |
| Dining Room | 1-3% |
| Patio / Deck | 1-5% |
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.
| Remodel | Return on Investment |
| Garage Door Replacement | 98-99% |
| Siding Replacement | 77-97% |
| Roof Replacement | 70-90% |
| Window Replacement | 70-90% |
| New Bathroom Addition | 55-87% |
| New deck addition | 75-83% |
| Kitchen remodel | 54-80% |
| Basement finishing | 54-70% |
| Bathroom remodel | 57-64% |