Average Home Renovation Costs

home renovation costsWhen deciding whether or not you should renovate your home, there is a lot to take into consideration. For starters what is your budget? How much can you feasibly afford to spend on renovating. How much should you spend on renovation? Where should you spend the money on and of course what are the home renovation costs?

What Should I Renovate?

If you have decided that you can afford to renovate some areas, the next question is where it is best to renovate and how much it will cost. Here are some renovation projects that will add value to your home, an estimated cost of renovation as well as some recommended dos and don’ts for each area:

  •  Bathroom

For an average size bathroom which is around six square meters the average renovation cost is between $9,000 to $12,000.

Have floor to ceiling tiles laid.
If your bathroom is spacious enough, include a double vanity.
Have a frameless glass shower installed.

Switch a combined tub or bathtub for only a shower.
Overuse mosaic tiling
Extensively change the plumbing

  • Kitchen

For an average sized kitchen which is eight square meters the average renovation costs will be around $12,000 to $16,000.

Have stone surfaces installed.
Have a canopy rangehood as well as dishwasher installed.
Maintain an open design plan.

Use a color palette which is unusual and hard to match.
Compromise space for storage and benches.
Invest in expensive fittings and fixtures.
If you can and want to renovate a few other areas to consider such as:
Additional Bedroom

For an average sized additional bedroom which is twelve square meters the average cost for renovation is around $18,000 to $24,000.

  • New Flooring

For an average size of a standard two to three bedroom home which is around one hundred and fifty square meters the average cost per square meter is $25-$100, this of course greatly depends on the material which is being used. So you are looking at an average total cost for new flooring of around $3,750 to $15,000.

  • Patio or Deck

The average size of a new patio or deck is usually around nine square meters, the average cost per square meters is around $180 to $900 per each square meter, once again this will vary depending on the materials which are being used. This means that you total average cost for adding a new patio or deck is around $1620 to $8,000.

Keep in mind that even if you are able to finance a renovation, or may not be the best choice at the moment. You want to really take all the pros and cons into consideration before you commit not only your money but also your time into a renovation.

You may not be able to take it all on at once, but if you go slow and take the time to choose what are the areas in your home which could use a revamp you as well as consider the final home renovation costs will be able to not only improve your home and standard of living but also not deplete your savings.