Home Remodel Costs And Estimation Template

If you’re thinking of remodeling your home, one of your first questions is likely how much it will cost. The short answer is that it depends. Your final price will come down to the improvements you want to make and how much you’re willing to spend on upgrades.

It’s helpful to know the average costs for different home renovation projects to get a more accurate estimate of your potential expenses. These average costs can serve as valuable benchmarks you can refer to while using our home renovation cost estimator spreadsheet to set your project budget.

How Much Does It Cost To Remodel A House?

Home renovation costs can range from $19,514 – $87,474. The average renovation cost for homes between 1,250 – 1,600 square feet is $51,772, according to Angi, a home services website.

Findings from the 2024 U.S. Houzz & Home Study also show that home renovations are becoming more expensive. On average, the median spend for homeowners has increased up to 60% since 2020.

It’s critical to understand that your home renovation cost will be unique to what you envision and what you can afford. Here are some factors that will impact the overall cost:

• Scope of the renovations: Are you only redoing the bathroom? Do you plan to upgrade the kitchen as well? The more projects you add to your remodel, the more your costs will grow.
• Size of the home: The more square footage you renovate, the more it usually costs.
• Quality of the materials: If you’re planning on a project like replacing siding, the quality of siding material will impact the overall cost of the project.
• Current state of the home: Renovations in an older home requiring extensive repairs will be more expensive than those in a newer home that only needs cosmetic updates or minor repairs.

Remodel Vs. Renovation

Technically, “remodel” and “renovation” have slightly different meanings but are often used interchangeably. The difference between renovation and remodeling comes down to scope. Remodels typically involve larger-scale home improvements, while renovations typically involve small repairs and updates.

 The distinction between the two terms is often blurred, so we’ll also use them interchangeably in this article.

House Renovation Cost By Project

According to the 2024 U.S. Houzz & Home Study, 39% of homeowners went over their renovation project budget – 24% didn’t set a budget at all. Setting a budget is crucial for a successful renovation project. Breaking down renovation costs by project can help you create a realistic budget for your home improvements.

Keep in mind that all the factors that generally impact cost will apply to these projects, such as the quality of materials, the scope of the upgrades and the square footage involved.

The information below was compiled from a variety of sources, including Angi, Fixr and HomeAdvisor.

Gut Renovation

A gut renovation involves stripping a home’s interior to its basic structural elements. Gutting a home’s interior is the most extensive type of renovation, short of demolishing a home and building it from scratch.

Depending on the square footage you’re working with, the average cost to gut and remodel a house is $100,000 – $200,000. The price per square foot on a gut renovation can range from $60 – $150 and includes new plumbing, appliances, structural improvements, a new roof and HVAC (heating, venting and air conditioning).

Interior Demolition

With renovations, the old must go to make room for the new. That usually results in interior demolition, which typically costs between $1,000 – $5,000 on average. When you break it down by square foot, the cost usually ranges from $2 – $10. The total price includes debris removal, dumping fees, permits and tear out.

Bedroom Renovation

The average bedroom remodel costs $20,000, including labor, materials, inspections and construction. On average, you can typically expect to spend anywhere from $4,000 – $40,000 for a bedroom remodel. A reasonable estimate for a bedroom renovation would be $100 per square foot.

Bathroom Renovation

The national average for a bathroom remodel is $12,063. But it typically ranges from $6,634 – $17,579, which breaks down to $70 – $250 per square foot. Improvements to cabinets and shelving are the most common upgrades, followed by updates to showers and tubs.

Kitchen Renovation

While the average kitchen remodel costs $26,934, homeowners typically spend $14,600 – $41,485. The most common kitchen upgrades include upgrading cabinetry, flooring and countertops.

If you want to completely remodel your kitchen from top to bottom, your costs can easily blow past $65,000. From luxury countertops to custom cabinetry, a kitchen remodel typically offers more luxury upgrade options than other types of remodeling projects.

Garage Renovation

Homeowners can spend anywhere from $7,000 – $30,000 on a garage renovation. The average garage renovation costs $18,000. Permits can be one of the most expensive costs of a garage remodel, especially if you’re changing the garage’s purpose. Labor and electrical costs will also heavily influence the final cost.

Home Exterior Renovation

Exterior remodels can focus on the structural integrity or curb appeal of your home. Common exterior remodel projects include applying new paint, buying a new front door, installing windows or putting up a railing for your deck.

Here are the costs of common exterior renovations:

Roof Replacement

• Average cost: $9,425
• Typical range: $5,855 – $13,116

Depending on the state of the roof, repairing it may be a better option than replacing it. It’s usually less expensive to repair a roof than to replace it.

Siding Replacement

• Average cost: $11,518
• Typical range: $5,572 – $17,603

You’ll spend less repairing house siding versus replacing it.

Deck Replacement

• Average cost: $7,900
• Typical range: $4,100 – $11,700

Like other exterior renovation projects, you can save some money by focusing on repairs rather than replacement.

Entryway Addition

• Average cost: $18,000
• Typical range: $14,000 – $32,000

An entryway addition can be a great way to boost your home’s value while boosting its visual appeal and comfort. The extra space can be especially valuable for homeowners in areas that experience extreme weather.

Home Renovation Cost Estimator Spreadsheet

The final cost of your home renovations will be unique to your home, your circumstances and your preferences. Follow these instructions to get the most out of the free cost estimator spreadsheet and create a realistic remodeling budget.

• Step 1: Make a copy of the spreadsheet so you can edit it for your projects.
• Step 2: Set a budget line item for each project.
• Step 3: Collect estimates from vendors.
• Step 4: Fill in the costs for each project, such as inspections, designs and permits.
• Step 5: Plug each project’s “actual cost” into column E.
• Step 6: Periodically revisit the spreadsheet to adjust your costs and budget.

Is Remodeling A Home Worth It?

While remodeling a home is typically less expensive than purchasing or building a home – it’s still a major and costly project. However, the money you invest in your home can increase your home’s value and potentially deliver a higher return on investment when you sell. Beyond the potential profit it can generate, remodeling can also help increase your enjoyment of a home.

The Bottom Line: Home Renovation Costs Will Vary

Home renovation costs will vary based on structural or mechanical repairs, square footage, underlying issues, location and materials. To help plan your home remodel with confidence, start by using the home renovation cost estimator spreadsheet we’ve provided, then get quotes from contractors in your area.

If you’re thinking about renovating your home, get started on the refinance process to confidently fund the project.