Establishing a Remodel Budget
Remodeling a home is a great way to bring fresh life to its walls. But you have to find out how much it'll cost before embarking on another project. Thankfully, estimating the cost of a remodel is straightforward if you know where to start and what to look for.
Use your home's square footage to calculate a price
The price to remodel a home generally ranges from $10 to $60 per square foot. So, you can see how large yours is and use it to guesstimate a price. If your home is 2,000 square feet, it would cost $19,000 to remodel on average. If you're living somewhere over 3,000 square feet, it could go up to $87,500.
Many contractors will measure your home to give you an estimate. Home Concepts Custom Remodeling, for example, has a team ready to assist. Ask for pricing on a whole-home remodel and see if it would fit your budget, or start smaller with the areas you'd rather prioritize.
Pick a room that would be within your budget
Another way to approach the project is by picking a room. Since the cost to remodel a single room is lower, it won't be as hard to get everyone on board. Depending on how much you're doing to the kitchen, it might cost as much as $60,000. But you could do one for as low as $4,000 if it's a smaller room.
Compared to the kitchen, remodeling the bathroom is usually a bit more affordable. For instance, $2,500 could be enough to do one if yours is on the small side. At most, you're looking at a $25,000 project.
Regal Bath & Kitchens could help you with either of these areas. They're an amazing place to go if you're about to embark on another project. Since they've listed everything, see what they've done and find something you like.
Determine where you'll find the funds
If you've been saving up, the bank is a great place to find the funds. There's more than one way to finance a remodeling project, however.
Accessing the equity in your home has grown in popularity, making it a more viable option. If you've been living somewhere a while, your equity might be enough to remodel the whole place.
You could also speak to a bank and see whether they'll loan the money. Most of the time, that's the easiest way to go.
Pick a priority and start remodeling
Once you've determined where you'll find the funds, it's time to start. Pick which room you'd like to do the most and find a contractor to work on it. Make sure you get an accurate estimate that fits your budget and work with a contractor that understands your vision. Once their work is done, it's time to begin planning the next project.
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