2020 was a very tough year for people for multiple reasons, none, the least of which, was the fact that the housing market nearly collapsed like it did in late 2008. Luckily, we were able to bounce back, but the downturn still meant that a lot of people who wanted to do things like renovating their homes had to put it off. Well, 2021 has been a much stronger year, economically speaking, and it might be the right time to get those home renovations completed.
If you are in the market for complete home renovations, then the odds are good that you're tired of dealing with your home the way it is. You're ready to get the job completed, but you may still be hung up on the price. So, just how much does such a set of home renovations cost? Well, there are many factors that will dictate the final price. Let's go over a few of them below.
Factors That Go Into Entire Renovation Costs
1: The Company You Choose
The first factor here that's really going to dictate the price for any home renovation is the company you choose. Different companies charge different rates, and some of them out there are charging a whole lot more than others. They might mark up the prices of the materials and charge more for labour, which is going to equal a much larger price tag for the final project. So, do your best to choose the right contractor for the job. This will give you a better deal.
2: The Materials You Choose
There's a huge difference between a high-end renovation and a budget reno job. The difference can be many thousands of dollars, especially when speaking about a complete home renovation. A good example here would be opting for just your basic economy slate tile in a kitchen instead of the more expensive and luxurious travertine. Or when it comes to something like a bathroom, it's the difference between a basic tub you can buy at a local store vs. a jet tub that's much larger and a lot more expensive. Take a careful accounting of your materials.
3: The Extent of the Reno
What all do you want renovated in the home? A complete home reno deals with all of your home, as in all of its rooms, but there are still different levels to this. You might have good hardwood floors that don't need to be replaced, for instance. Or you could have tubs and toilets and appliances that you're willing to keep. You have to understand that everything that needs to be replaced is another separate charge for the material and the labour. So, of course, all of these options affect the bottom line.
4: Cosmetic Vs. Foundational
You also have to take into account what a complete home reno actually entails for you. For instance, you might live in a relatively newer home, where the plumbing and electrical is still good and where you have good floors and studs, beams, etc., that do not need to be replaced. Replacing all of these things is obviously going to be a much larger expense. The scale of things that need to be replaced is not always known until the work begins.
5: Size of the Project
Renovation companies don't set their prices per room or per house. For instance, it's not as if they have one set price for a bathroom renovation. X amount of dollars, and you get any sized bathroom remodelled! No, that's not how it works, and you can figure out why without needing it explained. Rooms and houses are all different sorts of shapes and sizes. Some rooms might be a few square meters, while others can be a few dozen. So the size of the project itself is a huge factor in dictating the final price.
One thing you should keep in mind is that 2021 has been a great year for home renovations. You can actually get them done for less money now that the economy has bounced back. Just remember to choose the right contracting company to handle the project.
Comments(2)