Parts Of Your Home Is The Most Expensive – Each part of the house has varying renovation costs. Some parts of the house are more expensive to renovate than others. A bedroom, for example, is several times cheaper to renovate than a kitchen.
However, one must keep in mind that a heftier price tag doesn’t necessarily equate to more impact. A thousand dollars is already a substantial amount if you invest it correctly.
If you’re on a tight budget, you must decide carefully where to spend your ‘renovation’ allocation. With that said, here are five parts of your home that are the most expensive to renovate.
Bathroom
According to this Kitchen Capital guide, the average cost of bathroom renovations is USD$15,000.00. The price per square foot may range from USD$120.00 to USD$275.00.
If you want a more affordable renovation, you can minimize the cost from USD$3,000.00 to USD$8,000.00 if you’re willing to invest in high-quality materials.
The relatively high price is primarily because there are numerous things you must invest in during a bathroom renovation, including:
- Bathtub
- Cabinets
- Countertops
- Shower
- Tiles
- Toilet
- Other vanities (e.g., towel racks, rails, shelving).
Aside from the items you must purchase, you must also hire and pay for the services of professionals to install or repair critical components of the space.
Examples of these individuals include electricians, plumbers, tile-setters, and plasterers.
However, you may have to spend a lot of money on plumbers, particularly since the bathroom consists of numerous pipes compared to other parts of the house.
Furthermore, unlike the living room or kitchen, a bathroom renovation rarely has anything you can DIY. Therefore, you cannot minimize the costs via this method.
Kitchen
The kitchen is one of the most frequently renovated areas of the house. It enables homeowners to improve not just the overall appearance of their home but also its functionality.
Since the kitchen is usually visible to guests, it may quickly become the focal point of a house tour. Unfortunately, you’ll have to invest a lot of money to make the remodeling as impactful as you’d like it to be.
The average cost of kitchen renovations costs between USD$5,000.00 to USD$60,000.00.
The price ultimately depends on how many utilities you want to include in the renovation, but the average cost is around USD$25,000.
The price per square foot may range from USD$100.00 to USD$250.00. Below is a list of utilities that you can invest in during a kitchen renovation:
- Appliances
- Backsplash
- Cabinets
- Countertops
- Flooring
- Lighting
- Painting
- Plumbing
You can always minimize costs by investing in cheap appliances, countertops, and other utilities.
However, that can invalidate the purpose of the renovation, which is to improve its functionality and make the kitchen as beautiful as possible.
The good news is that renovations on the bathroom and the kitchen will pay off in the long run as they can increase the home’s market value.
Living Room
The living room isn’t as expensive to renovate as the first two. After all, it typically doesn’t require you to spend money on plumbing, costly appliances, countertops, and other vanities.
To renovate a living room, you’ll mainly invest in the following:
- Flooring
- Furniture
- Lighting
- Wall Paneling Ideas
Since there are fewer things to purchase, the price per square foot of living room renovations is relatively low, ranging from USD$10.00 to USD$60.00.
It pales compared to the price per square foot of the previous parts. However, a living room remodel is still costly on its own account due to the room’s expansive square footage.
For your reference, bathrooms have an average size of 40 square feet, kitchens 150 square feet, and living rooms over 300 square feet of space.
Due to the considerable difference between their surface areas, living rooms can still compete in terms of renovation costs. More specifically, most people spend around USD$8,000 on average to spruce it up.
Another distinction between the living room, bathroom, and kitchen is that the homeowner can complete most of the activities involved in living room renovations.
You can do the flooring, furniture positioning, and lighting fixture installation yourself. Possibly the only task you should not perform yourself is the installation of electrical outlets. You must employ electricians for this specific task.
Basement
It may not be the first thing that comes to mind when you think of renovations, but basement renovations have become more prevalent in recent years.
Moreover, this is a costly undertaking for two key reasons. For one thing, it’s quite spacious, similar to living rooms.
For your reference, a basement measuring 600 square feet in area is still considered relatively small. Not to mention to make basement stairs ideas.
Furthermore, the basement has several unique elements that require investment, similar to the bathroom. These include waterproofing, insulation, plumbing, and electrical work.
Due to these two reasons, the renovation costs of a basement range from USD$35,000 to USD$75,000, with a price per square foot of USD$30.00 to USD$75.00.
This is with the assumption that 1000 square feet is the surface area of the average basement.
Garage
Not all houses have a garage, but if you do, you should expect a hefty price tag if you renovate the space.
Similar to the living room, the main reason why a garage renovation is costly is due to the large surface area.
A standard garage has a surface area of 300 square feet, while a two-car garage should be roughly twice that size.
In addition to its size, there are rather costly utilities that you must invest in, such as cooling for summer and heating for winter.
If you want a workshop, you may need to invest in functional changes to the room. These may include wall storage for tools, a workbench, and some cabinets.
Basically, the price will depend on what kind of garage you want. But regardless of your preferences, you may have to spend at least USD$10,000 for a garage renovation.
Parting Words
These may be the most expensive investments you can make for your home, but that doesn’t necessarily mean you have to forget them altogether.
Instead, from a financial standpoint, it’s best to move them to the bottom of your priority list if you want to make the most out of your budget. Once you’ve dealt with the cheaper renovations, you can move your way up on this list.