Pricing Your Remodeling Project

Pricing Your Remodeling Project

If you’ve never priced a home remodeling project before, it can be a challenge. Home renovation costs can vary widely depending on what you want to do, where you’re doing it, and whether you’re doing it yourself or hiring a professional. The size of the space and the materials that you’re going to be using are also just as important when you are formulating your estimate, and those unforeseen costs – like surprise electrical work – can drive the price up higher than you might like. 

A renovation, whether it’s just one room or your whole house, is a major undertaking and can be very expensive, so it’s important that you have a general idea of what you’re going to spend to do the job right, and that your budget is calculated correctly. Here at Ascension General Contractors, we have some tips to help you when pricing your remodeling project:

Extent

You’re going to have to allot more funds if you plan to knock down walls or add on square footage, so your first step in estimating your home renovation costs is to outline exactly what the extent of your project will be. Jobs that include entire rooms – like kitchens and master baths – are always going to mean a higher budget.

Space

The more space you’re working with, the larger your renovation budget is going to need to be. You can expect to spend about $10 to $60 a square foot, depending on the room and your location.

The condition of your home matters; the renovation of an older home always costs more, and the same goes for homes that weren’t properly maintained by previous owners or those that have outdated and worn appliances. Before you can estimate home renovation costs on any property, you need to have a careful inspection to clue you in on the conditional features that are going to affect your bottom line.

Design

Your plan for the space is a major factor in determining your home renovation costs, but it’s also one of the easiest to adapt if needed. Budget out your project and make sure to include a general markup of what you’ll need to spend on things like cabinetry, flooring, and windows because this is one area where you can cut costs by buying alternative materials or planning for an alternate design if you need to, to lower your costs. 

There is a lot to think about when you are pricing your remodeling project; if you need assistance, our team here at Ascension General Contractors is always ready to help. We’re proud to serve Nashville as general contractors, and we are also a full-service repair company. Call us for all your home remodel and construction needs.

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