Michael James Remodeling
Investment in Your Home
How Much Does A Remodel and Home Renovation Cost?
While it is difficult to estimate without going into the details of your specific project and calculating all the costs involved, you can get an idea of how much you might spend by considering the scope of your project and average costs for your area, whether North Georgia (including Cumming, Gainesville, Alpharetta, and Suwanee) or anywhere in the United States.
While these numbers vary depending on your remodeling contractor and are subject to change, particularly in today’s market, first let’s try to get a idea or a starting point by making some generalizations for the cost of an average whole house renovation then we’ll dig into the costs of specific projects. Many of these numbers can be found for anywhere in the U.S. in the most current Cost Vs. Value report.
For the average 2,500 square foot home, a whole home renovation can range anywhere from $25,000 to $450,000 and up depending upon the number of rooms, square footage, grade of finishings, appliances selected, etc.
A mid range remodel ($100,000-$175,000) can include interior and exterior painting, new landscaping, plus a kitchen remodel (depending on appliances) a minor bathroom remodel and possibly new flooring.
A high end remodel ($175,000-$450,000) can include everything above, plus custom or high end cabinetry and more expensive appliances. A project in this range may also include some structural alterations with updates to the layout, electrical, plumbing, HVAC systems, and foundation repairs.
Ultimately, there are many factors that contribute to the bottom line, including:
- Which rooms are going to be remodeled
- The size of each room
- Any underlying problems that will need to be corrected
- The grade and cost of materials to be used
- The extent of the remodel
But the biggest factor is likely to be the appliances and cabinetry selected (if a kitchen is involved) along with any structural repairs, followed by labor.
Digging a little deeper, here’s what homeowners can expect to pay for specific home renovation projects done by Michael James Remodeling here in the North Georgia and Atlanta areas. Note: we’ve used the 2021 numbers from costvsvalue.com which tend to be inline with our own.
Kitchens and bathrooms will cost the most while bedrooms, and living rooms usually fall on the lower end of the scale.
Kitchen: The caliber of the materials you choose has a huge impact on the look of your kitchen and the cost. The average cost of a mid-range major kitchen remodel in North Georgia is $82,170, while the average cost of a higher-end major kitchen renovation here in the Atlanta area is $166,765.
Bathroom: Like kitchen renovations, bathroom remodeling projects come with a wide range of prices depending on the grade of the cabinets, counters and fixtures you choose. A major bathroom remodel typically costs about $27,718 and tops out at $81,680 for a higher end renovation with spa-like touches such as a steam shower.
Electrical updates: If you’re replacing an old panel and outdated wiring as a part of your renovation project, expect to spend $6,000 to $12,000.
Replacement siding: Any great remodel includes an exterior upgrade. Expect to pay $20,614 on average for new fiber-cement siding.
Replacement windows: If you plan to replace windows and frames to add to the beauty of your remodel and save on your energy bill. The average cost of new windows in North Georgia/Atlanta-metro is $21,358 for vinyl, $25,504 for wood, and $35,983 for aluminum cladded.
Basement: Remodeling the basement can be a big job or a small job, depending on the condition of the area and the remodeling house plan. Factors such as installing floors, building walls, adding electrical or plumbing lines and furnishing the room all contribute to the overall price. Adding bathrooms and kitchens, if desired, will involve the largest costs (see above).
Decks: An average wood deck will cost $16,955 while a composite is typically $23,834
New roof: The cost of protecting your newly remodeled home from the elements with a new roof will run you anywhere from $29,543 for asphalt shingles on a 2500 sq ft home to $48,827 for a metal roof.
Finally, it is generally a good idea to add 10-20% to all home renovation budgets to account for any changes and potential issues uncovered during the process. When you do a home renovation, it can become necessary to bring everything up to current code specifications. In an older home, this can mean new plumbing, new wiring, and structural repairs.
Return on investment (ROI)
Ah yes, the phrase that makes spending thousands of dollars on your home just a bit easier. There is no question that the pleasure you, your family, friends, and guests will get from your newly remodeled home can more than justify the expense. But, there is peace of mind knowing the checks you write for your home renovation can pay dividends down the road.
In the Atlanta metro/North Georgia area a typical kitchen remodel will yield a 50-74% return on investment, while a bathroom renovation on average returns 51-65% in additional value.
More Than Cost
Remember, whether you’re researching contractors online or getting recommendations from friends, get quotes from multiple contractors. Invite contractors and designers into your home to discuss your remodeling requirements. Take into consideration not only the price but also, the contractor’s ability to complete the job, per your specifications and needs. A good contractor, if found earlier enough in the process can help make all the steps of planning your home renovation from budgeting to design much easier.
How long does it take to completely renovate a house?
A complete renovation can take anywhere from 2 to 8 months. This varies widely depending on many factors. We can give you a better idea of the timetable when we discuss the details of your project.
How much should I spend on a home renovation?
How much you spend on your renovation depends on what you want and what’s comparable to your neighborhood values. Since you might get back up to 80% on some remodeling projects, it’s better to invest enough to match your homes standards and values.
What is the difference between a house rehab, remodel and renovation?
Rehab, renovate and remodel are often used interchangeably. However, rehabs tend to imply extensive repairs and cleanup.
How do I get a better estimate of my renovation costs?
Send us an email or give us a call. We can set up an appointment, a phone conversation, or a Zoom call to discuss your project and give you an estimate of the cost.
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