Eventually, you’ll need to update your home. You may need more space for a growing family or hobby, or you may want to redesign your floor plan to improve efficiency and flow. Before deciding on the extent of your home remodel, you’ll need to consider a number of factors.

How Much it Will Cost

As Homelight points out, a complete house renovation can cost anywhere from about $15,000 to $150,000 or more, depending on the house size and specific repairs needed. These can include such things as repairing the foundation or structure, upgrading plumbing or electrical systems, installing new walls, ceilings, flooring, cabinets, and fixtures. Exterior remodeling will add even more to the bill.

Smaller projects involving individual rooms will obviously cost less. It’s wise to get several cost estimates and to itemize the cost of each component separately. You can save money by choosing moderately-priced materials such as cabinets and floors, but you won’t want to skimp on essentials like infrastructure.

Length of the Project

You will need a good estimate on how long your remodeling project will take so you can prepare your living arrangements, especially for an extensive renovation. According to Pierce Design + Build , a complete overhaul can take six months to a year to complete. You will experience inconveniences, and you may even need to move out for a time. Alternative living arrangements will increase your budget.

Work with your contractors to arrange a reasonable time schedule that details the order of individual projects and how long each one might take. Your schedule might need to take into consideration seasonal changes or factors such as the school year, if you have children.

Return on Investment

Before you decide on your home remodel, consider how the renovations may affect the value of your house. You will never recoup one hundred percent of the money you invest in a renovation in a resale, but some home improvements, such as adding a bathroom or a major kitchen remodel , will raise your home’s value considerably.

Many factors contribute to estimating the return on your investment, including the size, age, and location of your home, as well as how it compares to other homes in your area. 

Whatever you decide for your home improvement project, it’s most important that you will be happy with the results. Envision the final result and work towards that goal, taking into account your budget, timeline, and individual needs.  

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