It’s easy to imagine the end result of a remodeling project — an updated spa bathroom, an open-concept kitchen with new cabinets and countertops or a basement converted into a convenient guest apartment. But it’s harder to imagine just what these renovations will cost — and even more so, how far your own budget will take you. Here’s a look at what you can achieve with modest, average and luxury budgets for three common remodeling projects, according to data from HomeAdvisor’s True Cost Guide.
Even small modifications can have a big impact in a bathroom remodel. On average, homeowners spend around $6,000 to $14,000, depending on the size and extent of the project.
Modest: With a budget of around $2,500, you can give your bathroom a fresh coat of paint, upgrade the toilet and sink, add new decor and update the lighting.
Average: For closer to $10,000, you can swap out surfaces and fixtures, so long as you don’t move plumbing or electrical. You can get new cabinetry, flooring and countertop materials — and even upgrade to a curbless walk-in shower.
Luxury: With a budget of around $24,000, you can move plumbing fixtures, invest in high-end flooring and countertop materials, and install new, custom-made cabinetry. You can also add tile installations, radiant floor heating and a luxury shower.
Most people have a vision of their “dream” kitchen, but not everyone can afford it right off the bat. Homeowners tend to spend $12,500 to $33,500 to create a kitchen that both appeals to their tastes and complements their lifestyle.
Modest: With around $4,000, you can either reface or refinish the cabinetry, upgrade your countertops or get all-new appliances. And your budget could also include detail work like painting, new plumbing fixtures and lighting.
Average: With a budget of closer to $22,000, you can paint, get new countertops, reface or replace your cabinets, and invest in high-quality appliances. You can also add a kitchen island or remove a wall. Note that removing a load-bearing wall could cost over $10,000.
Luxury: Most homeowners spend over $50,000 for a luxury kitchen remodel. With this, you can change the layout, knock out a wall, install new windows, get high-end flooring and countertop materials, and upgrade to the latest and greatest appliances.
Remodeling your basement offers a prime opportunity to add usable square footage and value to your home. On average, homeowners report paying $10,500 to $27,500 on basement remodels.
Modest: With a basement that is 600 to 700 square feet, you can create a family room, home theater or wet bar for around $5,000. Keep your costs down with affordable materials and furniture.
Average: With closer to $20,000, you can renovate a basement of 700 to 1,000 square feet. You can use higher-end flooring materials, add cabinetry and storage, and frame the basement to add rooms or separate spaces. You can even have a bathroom installed, though it will cost $10,000-$15,000 for the plumbing, electrical, fixtures and walls.
Luxury: A budget of over $40,000 can transform your basement into a living space with bedrooms, bathrooms, closets, a kitchenette, cabinetry and high-end flooring materials. When it comes to high-end basement remodels, the opportunities are endless.
Krynkle is a transformative way to manage—and build equity in—your most important asset: your home. It calculates the right amount to spend on remodeling projects, and stores your important project documents and images for you. Learn more at Krynkle.com.