Average Cost of a Home Renovation (2022)

How much does a home renovation project cost?

Again, it depends on how much work you're doing, t

Again, it depends on how much work you’re doing, the square footage of the rooms and whether you’re shelling out for the remodeling all at once or doing improvement projects little by little. HomeAdvisor.com’s study on renovation costs puts the average cost of a multi-room renovation between $18,000 and $76,000. My own home renovation was in this range, but projects can run as low as $3,700 or up to $150k for high-end work in pricey homes.

A kitchen renovation alone averages $25,000, according to the study. A bathroom remodel averages $10,000, and a basement remodel runs about $20,000.

House Beautiful also has a resource section on how much renovations can cost by room. For example, the average cost of remodeling a 35-square-foot laundry room is $6,000.

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How Much Does It Cost To Renovate A Bathroom?

An airy and modern bathroom is considered a luxury by many homeowners. Buyers, just as with kitchens, often focus on bathrooms when deciding whether or not to make an offer on a house.

Remodeling a bathroom, on average, costs $20,000 – $38,000. Renovations in the primary bath are typically only done when budgets are at or exceed $4,5002. With budgets below this threshold, upgrades like floors, lights, counters and cabinets aren’t typically pursued, though paint is the embellishment people still splurge for.

High-end average cost: $75,692

Additional home value: $41,473

Return on investment: 55%

Universal average cost: $38,813

Additional home value: $22,475

Return on investment: 58%

Mid-range average cost: $24,424

Additional home value: $14,671

Return on investment: 60%

Home renovation cost estimator

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

Home renovation cost estimator
Type Average cost Renovations
Low-end $15,000 – $40,000 Cosmetic work like painting, landscaping, trim, molding, and flooring, stock cabinetry, inexpensive appliances and countertops.
Mid-range $40,000 – $75,000 Low-end options + above-average materials and appliances, full bathroom and kitchen remodel, new light fixtures, exterior siding, hardwood flooring.
High-end $75,000 – $200,000 Mid-range options + high-end materials and appliances, custom cabinetry with built-ins, custom closets, structural and foundation repair, layout changes, HVAC and roof replacement, basement or attic conversion to living space, professional interior design.

Average remodel cost per square foot

The average remodel costs $15 to $60 per square foot, depending on which rooms need renovating. Kitchen and bathroom renovation costs $100 to $250 per square foot based on the size and quality of materials. A complete gut renovation costs $60 to $150 per square foot.

 Remodel cost per square foot   Type Cost per squa

Remodel cost per square foot
Type Cost per square foot
Whole house remodel $15 – $60
Full house gut to studs & remodel $60 – $150
Tear down house and rebuild $104 – $165
Remodel kitchen and bathrooms $100 – $250

Dry rooms such as living rooms and bedrooms typically fall on the lower-end of the range. Costs increase significantly for urban areas with higher costs of living and historic homes more than 100 years old.

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Whole house renovation cost

The average cost to renovate a whole 1,200 sq. ft. house is $18,000 to $72,000, while remodeling a 2,000 sq. ft. home ranges between $28,000 and $115,000. Prices depend on the extent of the remodel, quality of materials, and if structural changes are made to the layout.

 Whole house renovation cost by size   Square feet

Whole house renovation cost by size
Square feet Typical range Average cost
1,000 $15,000 – $60,000 $20,000
1,200 $18,000 – $72,000 $24,000
1,500 $20,000 – $85,000 $30,000
1,800 $25,000 – $100,000 $45,000
2,000 $28,000 – $115,000 $50,000
2,500 $35,000 – $135,000 $62,000
3,000 $40,000 – $160,000 $75,000
3,500 $45,000 – $180,000 $87,000
4,000 $50,000 – $210,000 $100,000

If the home is beyond repair, the average cost to tear down and rebuild a house is $125,000 to $450,000 or $104 to $165 per square foot.

House refurbishment cost by bedrooms

The average cost to fully renovate a 3-bedroom house is $25,000 to $100,000, and between $40,000 to $180,000 to remodel a 4-bedroom home. These renovation costs range from standard upgrades up to a complete gut and remodel.

 Cost to renovate a house by bedrooms   Type Cost

Cost to renovate a house by bedrooms
Type Cost range
2 bedroom house $15,000 – $75,000
3 bedroom house $20,000 – $100,000
4 bedroom house $40,000 – $180,000

Full house renovation costs by home type

Homeowners typically spend between $20 to $200 per square foot on a full house remodel, depending on the type of property. However, the largest factors are the scope of the renovation, location, and quality of materials used.

Renovation cost calculator by home type
Home type Cost per square foot
Condo $40 – $125
Apartment $25 – $60
Row house $25 – $75
Bungalow $35 – $80
Farmhouse $20 – $100
Townhouse $25 – $150
Victorian $50 – $200
Historical $100 – $400

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Return On Investment For Top Renovations

When embarking on any major remodeling project in your house its important to think about the prospective return on investment.

Some remodels are done right before the sale of the house in order to boost its value, while others are done for personal enjoyment with the goal of adding long terms value to the home.

Here are the National Average ROI figures for the most popular remodeling projects.

Project Type Remodel Cost Average ROI Your Return
Minor kitchen remodel $21,198 81.10% $17,191
Mid-range full kitchen remodel $63,829 59% $37,637
High-end full kitchen remodel $125,721 53.50% $67,212
Mid-range full bathroom remodel $19,134 70.10% $13,422
High-end full bathroom remodel $61,662 56.20% $34,644
Interior Painting $3,185 107.00% $3,408
Floor replacement (hardwood) $18,500 75.00% $13,875
Finishing the attic (with bathroom) $47,240 62.00% $29,289
Finishing the basement (with bathroom) $56,850 73.00% $41,501
Window Replacement (wood) $19,391 69.50% $27,901
Window Replacement (vinyl) $15,995 74.30% $11,884

Keep in mind that the actual return on investment on any remodel will largely depend on local real estate market trends as well as the level of renovation you are doing.

If you are not sure whether a specific remodel is a smart investment, its best to contact a local experienced real estate agent for advice.

Related Resources

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How To Increase Home Value: A 4-Step Guide Refinancing – 9-minute read Miranda Crace – July 07, 2022 Home renovations can help boost your home’s value, but they can be costly too. Learn how to improve your home’s value the right way with our step-by-step guide. Read More

8 Home Renovation And Remodeling Trends For 2022 Refinancing – 7-minute read Sam Hawrylack – July 07, 2022 Are you looking to make updates to your home this year? Take a look at some of the most popular 2022 home renovation and remodeling trends and get inspired! Read More

Should I Remodel Or Move? Home Buying – 8-minute read Miranda Crace – July 22, 2022 Wondering if you should buy a new home instead of remodeling? Explore statistics on costs and learn the pros and cons. Read More

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Home Renovation Costs: Types of Renovations

Major home renovation projects are not for the faint of heart. Home renovation costs quickly add up, problems arise, and home life is disrupted. But the satisfaction of seeing your home transformed into a fresh, functional space is the ultimate reward. There are several types of renovations to consider to update an existing house.

Whole-House

Renovation costs can run the gamut. A typical 2,500-square-foot house could cost between $15,000 and $200,000. For under $45,000, you could update paint, trim, flooring, counters, and landscaping. A price of $46,000 to $70,000 covers a kitchen or bathroom remodel along with upgraded flooring. More than $71,000 extends to cabinet upgrades and structural or system upgrades.

A home renovation gone wrong is a homeowner’s worst nightmareLuckily, trusted experts are here to help. Get free, no-commitment project estimates from contractors, builders, painters, and more near you. Find a Pro ++

Historic Home

Historic homes can be a fun challenge. Expect to spend around $100 to $400 per square foot to renovate a historic home properly. These homes typically require structural, mechanical, and system updates along with cosmetic improvements. If the house is in a historic district, check for renovation restrictions. In some cases, grants are available to assist with the associated costs of renovation or upkeep.

Gut and Remodel

In some cases, a full gut and remodel is necessary when the floor plan is wholly redesigned, or if the mechanical systems need a total upgrade. All that’s usually left in a gutted house are studs and foundation. It typically costs $100,000 to $200,000 or $100 to $200 per square foot to demolish and rebuild an older home. An interior gut may only cost up to $10,000 to remove furnishings, appliances, and drywall.

Rehabbing a Home

Rehabbing a home is similar to a gut and remodel but slightly less extensive. It focuses on repairs and cleanup for houses that need significant renovation. A typical range for rehabbing a home is $20 to $50 per square foot or $20,000 to $75,000.

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Home Additions

Adding on to an existing home is a common renovation or remodeling project that can be costly since it touches almost every aspect of building a home, including walls, rooflines, wiring, HVAC, plumbing, and cosmetics. The average cost to build a home addition is $21,000 to $70,000, but the price can increase dramatically depending on the extent of the addition. Adding a new bathroom costs $18,000 to $47,000 on average.

Cost of Whole House Remodel

While renovating typically refers to cosmetic upgrades, remodeling often involves major structural changes. If you’re doing a whole house remodel, you might gut the house and start over, perhaps changing the floor plan, knocking down walls, or rearranging electrical wiring in the process. 

Building an addition can also have a high ROI when it comes time to resell, according to Matt Lavinder, president of home remodeling company New Again Houses. “With COVID, the person’s home became a whole lot more,” Lavinder says. “Now it’s not just a home, it’s also a school, office, it’s where you go retail shopping, it’s your mall, theater. It’s all these different purposes now. At the end of the day, the square footage has become much more valuable.”

An addition or whole house remodel is a more complex undertaking than a minor renovation, and as such your renovation costs per square foot may be higher. While there are a lot of variables that affect the cost to remodel a house, these estimates from Realtor.com offer some average costs:

Small remodel with painting, small repairs and new landscaping$25,000 to $45,000
Moderate remodel with kitchen and bathroom overhauls$46,000 to $75,000
Major remodel, with foundation, roof and sewer repairs$76,000 and up

Ways to Save Money on Home Renovation

While you can’t control the supply chain, you can find ways to save money on your home renovation. Karp recommends working with people who will share costs with you upfront. 

“I think the number one thing is to have the right team, a team that you trust,” she says. “As much as possible, homeowners should try to get an idea of the cost of the project, meaning architectural fees, compliance fees, and build costs at the schematic design, development, and construction stage.”

Allow space in your timeline for unexpected delays, Weiss says.  

“Make a sort of renovation calendar that has enough space for any sort of interruptions,” she says. “Even [prepare for] things like your contractors have to be out because they may have been exposed to COVID. There’s nothing worse than expecting a renovation to be done months and months before it’s actually done, so make sure you can dedicate ample time to the project to account for the hiccups you may face.”

Finally, Lavinder reminds homeowners to solidify their renovation plans before they get started. 

“People may have a plan for the remodel, but then they change their mind in the middle,” he says. “That has a ripple effect that affects all these different costs. Going into a project and sticking with it and not changing your mind is one of the most important parts of doing a successful remodel.”

How Much Should I Spend on a Home Renovation?

To get an approximate idea of what your remodeling budget should be, consider the value of your home as a whole. You don’t want to spend more than 10 to 15 percent of your home’s value on a single room. If you spend more, the value of the renovation will not proportionally add to the value of your home.

For example, if your home is worth $100,000, the maximum you should spend on a kitchen or bathroom renovation is $15,000. If your house is worth more, the spend on a renovation could be higher.

“Most of the time, it’s really hard for a homeowner to know where to start. I recommend bringing in a design build contractor early on in the process. In their initial consultation they can talk about your needs and priorities and help guide you through a project that is realistic for your budget.”

Danny Niemela | ArDan LLC

Determine Financing Before Finalizing Your Budget

Before setting the budget for your home renovation, you need to determine how you are financing it. If you are paying in cash, taking out a loan or applying for credit, the budget of your renovation will need to fit within the limit of your available funds.

Once you know how much you can afford to spend, set aside 10 to 20 percent of your available funds for unexpected expenses. This is important. Something will go wrong or cost more than originally projected. By setting aside a percentage before beginning, you know you will have the funds available to finish your project no matter what happens.

“I recommend setting aside between 10 to 20 percent for a cushion. If you hire the right contractor to do some exploratory demolition or investigative work early on there should be very little unforeseen work that needs to happen. However, in our experience once a project starts many of our clients pull out the ‘While you are here, can you also do…’ list and if client has the money set aside, we can easily accommodate it in duration of the project.”

Danny Niemela | ArDan LLC

Once you’ve decided how much to spend, use the following steps to create a detailed plan and budget.

Remodeling a Bathroom

Remodeling a bathroom may entail repairing or replacing toilets, sinks, vanities, countertops, lighting, ventilation/fans, flooring, doors, windows, paint, faucets and/or plumbing. According to HomeAdvisor, you should expect to spend 50% of your total budget on materials and 50% of your total budget on labor, with the average cost of labor for this project coming in at $65 an hour. Poll: Do You Think People Should Invest in Crypto? With that in mind, can you guess how much the average bathroom remodel costs? Click through to the next slide to find out.

The Average Cost To Remodel a Kitchen Is $25,656

According to HomeAdvisor, most homeowners spend between $13,486 and $38,101, or $75 to $250 per square foot, to remodel their kitchen. The total cost depends on the size of the space, the quality of the material and whether you change the layout of the room. More From GOBankingRates The Best Cities To Retire on $2,000 a MonthCheck Out Readers’ Favorite Small Businesses in Our 2022 Small Business SpotlightLooking To Diversify in a Bear Market? Consider These Alternative Investments18 Reasons Why You Should Be Using Your Credit Cards More Andrew Lisa contributed to the reporting for this article.

Tips for Saving on Home Renovation Costs

When creating your remodeling budget, use these tips to further reduce your costs:

  • Complete demolition yourself: If you’re removing cabinets or pulling up tile as part of your renovation, consider doing the work yourself. As long as there is no expertise required, this is a good way to reduce labor costs and save a few dollars.
  • Order fixtures and finishes yourself: Your contractor will probably charge you an hourly fee to do your shopping for you and may even charge a markup. Be clear about your plans so your contractor knows you’re taking on that responsibility yourself.
  • Be your own project manager: If you need to hire additional subcontractors for your project, interview and select them yourself instead of having your general contractor do it.
  • Do your own painting: Having a room painted by a professional can cost $300 or more. Plan to complete any required painting yourself and you can remove that cost from your remodeling budget.
  • Shop used: Instead of purchasing everything brand-new, pick up used or refurbished items when possible. This can greatly reduce your spend on appliances and finishes.

Cost to remodel other buildings

Building refurbishment costs $25 per square foot to remodel multiple rooms in a house or apartment, and between $100 and $250 per square foot for completely gutting a building and making structural changes.

Apartment renovation cost

Apartment renovation costs $25 to $60 per square foot on average or up to $200 in large cities like New York. Renovating a 1-bedroom apartment costs $18,000 to $45,000, depending on the location and whether it’s major structural changes or minor alterations.

 Apartment renovation cost   Size Average cost

Apartment renovation cost
Size Average cost
Studio apartment $10,000 – $30,000
1 bedroom apartment $18,000 – $45,000
2 bedroom apartment $25,000 – $60,000

Mobile home remodel cost

Completely remodeling a mobile home costs $10,000 to $30,000, depending on if it’s a single wide or double wide. Individual projects cost $2,000 to $5,000 each, such as kitchen remodeling or roof replacement.

Mobile home remodel cost
Project Average cost
Replacing windows $2,500 – $5,000
Roof replacement $2,100 – $4,700
Kitchen remodel $3,000 – $5,000
Bathroom remodel $2,000 – $8,000
Replacing HVAC $1,800 – $2,500
Painting $1,200 – $2,400
Rewiring electrical $1,600 – $3,800
Plumbing $2,000 – $4,000

Cost of renovating a 100-year-old house

The average cost of renovating a 100-year-old home is $100,000 to $250,000 or between $100 and $200 per square foot. Prices depend on it’s historical value and the electrical, plumbing and HVAC updates needed to meet code requirements. Heritage landmark buildings cost up to $400 per square foot to remodel.

Old house renovation price list
Renovation Average cost
Replace windows $4,500 – $20,000
Electrical work $3,500 – $8,000
Electrical panel replacement $800 – $2,000
Replace plumbing $2,000 – $15,000
New foundation costs $20,000 – $40,000
Install central air conditioning $660 – $4,600
Foundation repair costs $2,318 – $6,750
Insulate walls $874 – $2,926
Install furnace $2,150 – $5,900
Install HVAC (includes AC, furnace) $4,820 – $9,350

Old homes often have hidden problems, such as lead paint, asbestos, rotting wood, or outdated plaster, which are more labor-intensive. Contractors often end up gutting all the walls, repairing the foundation and structural damages, and replacing the subflooring.

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Questions to Ask About Home Renovation Costs

The steps involved in a home renovation are complex and confusing for first-time renovators. Talking openly with your general contractor can help clear up questions and avoid miscommunication on home renovation costs.

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  • How much does a house cost compared to a whole-house renovation?
  • Is it cheaper to renovate or gut and remodel?
  • How long will my project take to complete?
  • Will you obtain all building permits?
  • Do you hire and pay for subcontractors?
  • Will they come to my house to inspect the job and provide an estimate?
  • Are your crews licensed and insured?
  • Have you completed many home renovations like this before?
  • Do you typically have cost overruns?
  • Are we on the same page about this idea?
  • Can we review the estimate line by line?
  • My house was built in the 80s. What kind of problems do you expect we might find?
  • What if I change my mind about a design partway through the project? What will that cost me?
  • What kind of payment structure do you require?
  • How do you handle challenges or material delays?
  • What kind of warranties do you provide?

Total house makeover: A real-life example

Holmes shared a recent proposal for a complete remodel of a 3,750 square foot home where his firm did most of the labor, but the buyer saved some costs sourcing appliances and hardware:

Full Gut Remodel Labor Materials (Estimate) Cost
Demolition/Disposal $1,500 $1,000 $2,500
Structural Repair $8,000 $6,725 $14,725
Plumbing $25,000 $1,500 $26,500
Installing HVAC $8,000 $3,500 $11,500
Electrical $12,000 $2,400 $14,400
Drywall & Primer Accounted for in materials $1.50 per sq ft. $25,143.50
Interior Doors $50 $125 per door $1,750
Flooring $2 per sq ft. $3 per sq ft. $18,625
Kitchen Cabinets $1,750 $4,800 $6,550
Kitchen Counters $45 per sq ft. (labor included) $3,037.50
Kitchen Backsplash $15 per sq ft. $5 per sq ft. $560
Bath tile $5 per sq ft. $4 per sq ft. $5,400
Vanities $100 $500 (per vanity) $3,000
Total $133,691

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