There are two types of home renovation projects: complex and straightforward. Sometimes, a project can turn into a full-blown house remodeling adventure. It’s not unusual for unexpected costs to pop up while planning a renovation. For example, you may need to hire an architect to help with planning a structural adjustment, or you could discover an issue with the foundation that must be addressed. Here are several additional considerations for house renovation costs to help guide your planning process.
It is no secret that older homes might have some hidden structural or mechanical issues. These are things that you should address when you find them. Sometimes, it is good to update the electrical wiring to current safety standards. This can save you money in the long run. Make sure to add approximately 20 percent to your budget for unforeseen costs.
If you are planning to make any structural changes to your home, it is important to consult with an engineer first. This is to ensure that your home’s load-bearing walls handle correctly. You can expect to pay around $300-$700 for a consultation and plan review. Keep in mind that the average cost of removing walls ranges from $300 to $10,000, with non-load-bearing walls costing less.
Hiring an Architect
If you are considering a more complex renovation project, hiring an architect early on in the planning process might be helpful. Architects can assist you in turning your thoughts into reality by recommending current trends, upgrades, and structural needs. They can also provide a rough estimation of how much the project is possible to cost. Architects usually charge between $125 and $250 per hour.
Electrical, Plumbing, and HVAC Systems
Renovating your home can be a great way to improve its efficiency and reliability. Updating your plumbing, wiring, and HVAC systems are all good ways to do this. These projects can be expensive, but they often increase the value of your home in the long run. For example, a typical plumbing job costs $300, electrical work costs $350, and installing a new HVAC system runs between $500 and $7,200.
If you hear the words “foundation problems” during your home construction project, it’s best to panic. This is because any issue with the foundation will drive up the renovation costs. That’s why it’s useful to have a budget cushion. If there are major foundation problems and roof and mechanical issues, it might be cheaper to demolish and rebuild. Talk to your contractor to figure out the best solution for you.
Changing the Floor Plan of the Home
Making changes to your floor plan can be expensive. It can cost between $750 and $3,000 or more. This is because making changes to the floor plan affects your home’s foundation and other structural components. If you want to make changes, you must consult a structural engineer. Additionally, most cities require that any additions to your home be permitted. This means that you will have to work with an architect as well. Almost every system in your home will need to be updated when making a floor plan change.
Changing appliances is a common reason to do home renovations. New appliances can cost between $200 and $10,000. There are many appliances, and it’s easy to get carried away with kitchen appliances. They can be expensive, but it is important to buy what you need and what will meet your expectations.
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