The Top 5 Most Expensive Parts of Home Renovation: What You Need to Know
Let us help you uncover the hidden costs and make informed decisions for your next renovation project
Home renovations can breathe new life into your living space, but they also come with their own set of challenges and expenses. From upgrading kitchens to transforming bathrooms, there are numerous parts of a home renovation that can significantly impact your budget. Let’s dive into the five most expensive aspects of home renovation, so you can plan your project accordingly and avoid costly surprises. Plus, we’ll provide a handy resource where you can find more information on how to save money and get the best value for your investment.
1. Kitchen Renovations
Kitchens are often considered the heart of a home, but upgrading this essential space can be quite the undertaking. A kitchen remodel typically includes new cabinets, countertops, appliances, and flooring, as well as plumbing and electrical updates. High-end materials like natural stone countertops and custom cabinetry can drive the costs even higher. According to HomeAdvisor(home advisor link), the average cost of a kitchen remodel in 2021 ranged from $13,000 to $38,000, with high-end projects reaching up to $75,000 or more.
2. Bathroom Renovations
Bathrooms are another area where renovation expenses can add up quickly. Replacing fixtures, installing new tiles, and upgrading plumbing and electrical systems can all contribute to the cost. Additionally, if you’re looking to add luxury features like a walk-in shower or a freestanding bathtub, the price tag can escalate quickly. Depending on the scope of the project, bathroom renovations can cost anywhere from $6,000 to $25,000 or more.
3. Exterior Renovation
If your homes exterior feels outdated breathing new life into an outdated or tired-looking facade an exterior renovation could be just what your looking for. This type of renovation typically includes updating siding materials, repainting the exterior, replacing windows and doors, and enhancing architectural features like trim and shutters. Additionally, an exterior facelift may involve upgrading the landscaping, adding or refreshing outdoor lighting, and installing new walkways or driveways. These improvements not only elevate the aesthetics of your home but also contribute to its overall value and energy efficiency, making an exterior facelift a wise investment for homeowners seeking a fresh, revitalized appearance. This short video of a 80s Vancouver “box style” home facelift is a great example of our work.
4. Home Additions
Adding square footage to your home is a surefire way to increase its value, but it’s also one of the most expensive renovation projects. Home additions can range from small bump-outs to large-scale expansions, like adding a second story or a new wing. The cost of a home addition depends on the size, complexity, and finishes of the project, as well as local labor and material costs. According to Fixr, the average cost of a 20×20-foot home addition in 2021 was around $80,000, with prices varying significantly based on the project’s specifics.
While home renovations can be pricey, especially when it comes to kitchens, bathrooms, foundations, roofs, and home additions, being aware of the potential costs can help you budget accordingly and make informed decisions. Investing in your home’s improvement not only enhances your living space but can dramatically transform your property’s appeal and functionality. Check out some of the projects we have done to learn more about what you can do to improve your home.