If you’ve ever thought about remodeling, one of the first questions on your mind was probably, “How much will it cost to remodel?” The answer to this question varies significantly based on factors such as:
- Where you are located
- Square footage
- Underlying issues
- Structural or mechanical work proposed
- Brand and materials of the finishes
- Any pre-existing issues
It is difficult to answer the question of cost outright. However, we do have some examples we can share below from our past work. We can also help you better understand how your budget can and should be allotted.
Supply Chain and other Factors in 2022
We’re all dealing with limitations and delays in the supply chain. You might expect us to mention this as a factor driving up some remodeling costs in 2022. However, because P.L. Lyons Architectural Builders has been in business for almost 50 years, we have long-term relationships with our suppliers and subcontractors. Many of them are diligent about staying with us. So we haven’t been affected as much as others by negative trends in the supply chain.
Our long history also means we’ve been through our fair share of recessions and other economic changes before. In summary, we know how to get through them and even how to guide our clients on certain decisions like timelines and materials in order to best protect their budget.
Here’s another thing to think about: All general contractors are buying the same concrete with a possibility of only around 4 to 5% difference in price point from each other. Even if a material such as concrete costs a little more today than it did a few years ago, if you really want to remodel during this time period, you should always choose an experienced, quality builder. If you find one who tells you they can get everything cheaper, they are probably cutting corners or misleading you.
The Lesser-Known Remodeling Costs
When you think about your preliminary remodeling budget, it would be easy to focus on the current price of your favorite cabinet brand or the average rate for a general contractor according to Google search. Here are a few lesser-known costs you can’t forget when remodeling:
- The cost of demolition
- Adding a new addition. This is quite different from a remodel. You aren’t only considering interior updates but also how the newly constructed space fits into both the interior and exterior of the existing house overall.
- Inspections and permit costs.
According to some custom builders, the biggest reason a project significantly increases in cost is because of change orders. This is why it’s so important to discuss your budget and preferences thoroughly while choosing your finishes as early in the process as possible. We spend time preparing the scope of work with you not just to improve your experience with the project but to protect your cost too!
Cost Recommendations
You’re probably reading this because you’re looking for actual numbers regarding remodeling. Here’s an important stat we can share! We estimate that around 75% of your remodeling cost depends on the finishes you want. Because many of our clients desire a luxury-style remodel, we’re focused on procuring high-end brands – and often rare materials – for finishes when we hash out the plan with them.
If you aren’t interested in a high-end remodel, here are average spend percentages by project recommended by the National Association of Home Builders. Again, we must reiterate that this does not fit a person looking at top-of-the-line products and finishes. It also does not factor in a whole home remodel.
Remodeling Examples vs. DIY vs. Buying New
According to a study, more people attempted to DIY (Do It Yourself) their smaller remodeling projects than they did before the pandemic. This is probably for 2 reasons. First, they felt more of a financial strain through the pandemic and because of it. Secondly, they likely had more time at home to devote to a project.
Notice we said smaller projects here. Not all remodeling ideas are feasible on your own!
While the housing market has been very competitive with fewer homes available right now, remodeling is a consideration for many right now. Some families should even consider a large-scale or whole home remodel. Many times, this is still cheaper than buying a different home, especially one that’s been recently updated, and going through the steps of closing and moving into that home.
Although economic uncertainties remain, plenty of people are remodeling in 2022. We just completed 2 in the past month. Here are details on their price range and the final results.
Luxurious Bathroom Remodel
There were many features to this luxury remodeling project but the beautiful tile with a special motif in the middle is a focal point. We also like the vanity that takes up the full width of the wall with built-in cabinets that extend the full height. The cost range of this project was between $145,000 – $200,000.
Light & Airy Updated Kitchen
This project also includes much more than you see in the snapshot above. We like how the island in its unique color is a focal point for the space. We add all new stainless steel appliances. All the finishes work together perfectly for a clean, light, and airy experience in the kitchen. The cost range of this project was between $200,000 – $299,000
The Value of Custom Remodeling
The final and most important reason we don’t often post prices with our remodeling or new construction content is because we are devoted to customizing the work to our clients. Because we’re known for that, we most often work with clients looking for unique builds and luxury styles.
When you give us a budget, that’s what we work with. When you know what you want, we’ll accomplish it. If we have to modify other parts of the plan in order to get the floors and cabinets you love or to include the auxiliary building you want to store your boat and other valuables, we will work alongside you on this.
Don’t forget the value you get with remodeling your home. Some updates prevent more expensive problems later on like water damage or cracking walls. New windows or garage door, upgraded appliances, an open concept floor plan, these kinds of things can offer a great return on investment – if not completely matching your investment – if you sell your home later on. Most people report enjoying spending time in their home even more after they completed their desired updates. This kind of experience for you and your family may be the best decision you make this year! Let us know if you’re ready to talk about your remodeling ideas. Pick a time to talk with us here.
