With higher property prices, many people are considering purchasing old homes and fixing them up. If you are also thinking about this, read on to see typical home renovation fixes and their average costs. Remember, if you are searching for a contractor, easily find a reliable local contractor on AbodeStory!
Kitchens: Kitchens get dirty and worn easily with all its use: heat, water, dirt, oils. Renovating a full kitchen may include replacing cabinets, the sink, counter tops as well as the cosmetics. Typically budget around $5000 (about half of this will be for labor).
Fixtures: Small details can go a long way and elegant lighting fixtures can truly give properties a facelift. Examples of small fixtures you can consider include lighting installations, new faucets, or even door knobs. Light fixtures can range anywhere from $20-$300, a new ceiling fan for $150, and faucets for around $350.
Roof: If your roof is not looking in great condition, you may want to consider replacing it to prevent more serious, issues, such as leaking, for the future. Estimate about $4/sq. ft to replace roofing. So for a 1000 sq. ft house, budget around $4,000.
Appliances: Adding appliances is a great way to boost the value and look of a renovated house. Typical costs for large appliances range from $500-600 for a stove, $300 for a dishwasher, $1400 for washer and dryer and $1,500 for a new refrigerator. Consider refurbished ones at much lower costs.
Baths: As with kitchens, bathrooms are one of the first that would need an update. To replace cosmetics aspects, including toilet, resealing tiles and tubs, can be less than $1000. If you want to completely gut the bathroom, it can cost less than $3000.
Flooring: While hardwood floors look great, it can cost as much as three times the cost to install carpet. Carpets can be installed for around $2 to $3 per square foot, so a 1000 sq. ft house would budget for $2,000 to $3,000. For properties that already have hardwood floors, refinishing the floors cost around $1 to $2 per square foot.
Painting: One of the most visible changes is the painting. Painting interior of the house costs around $2 per square foot, which includes painting trims as well as walls. Painting the exterior is more expensive because of preparation work and materials involved, and that runs around $3 per square foot. And this price can even be higher if the property needs more preparation on the surface for the new paint. (Special note: if your house had lead-based paint, remember to make sure your contractor has the certification to handle lead-based paint jobs).
Totals: For a 1,000 square foot property, approximate costs you are looking at to fix the place:
$5,000: interior and exterior painting
$2,500: carpet floors
$2,000: bathroom remodeling
$3,000: a few new home appliances
$600: new cosmetic fixtures
$5,000: kitchen remodeling
Your total comes out to about $18,000 (roof installation was not factored in). Now it’s up to you to take into consideration the price you bought it at and the future price you can rent or sell it at after renovations, and determine if it will be worth your investment.
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