Creating Your Budget

Cost of remodeling

One of the most important aspects to remodeling is knowing—and controlling—your budget. There are so many variables that go into determining the cost of a project. Here are a few things that will affect the cost of remodeling:

Size and scope of your project.

Project cost will vary depending on your location, the size of the room, and what features or options you choose. However, square footage alone is not the indicator of cost; kitchens and bathrooms may be smaller but require appliances, plumbing and electrical features.

Structural changes.

Changing the structure of your home typically will cost more because it requires additional design and engineering work. 

Product selections.

Your choice in products will determine the cost of the project. There are many different levels of product quality as well as price ranges. Talk to your contractor about various options to meet your overall goal.

Age of the infrastructure.

The age and condition of your home must be considered. Structural issues more than likely will have a great impact on cost.

Craftsmanship and quality.

Like other areas of life, you get what you pay for—a high-quality craftsman and custom workmanship will cost more.

Resources

Visit the NARI’s project gallery for a better understanding of what you can get at various price points.