How Much Does a Home Renovation Cost?

The choice to renovate your home isn’t an easy one to make. It requires a significant investment of time, effort, and energy to do the job right, and one mistake can lead to a botched job that leaves you worse off than when you started. What’s worse, certain aspects of home renovation require extensive skill and tools, and if you don’t know what you’re doing, you could injure yourself or those you love. 

The average cost to renovate multiple rooms in America is around $41,802, but that can vary widely based not only the number of rooms you’re renovating, but a host of other factors. To help you make the best choice possible, and save you from the downright heartbreak of a poor renovation job, make sure you weigh these three considerations carefully before you commit.

 How Much Will It Cost?

The first obvious question you should try to answer is about how much the job will cost, or more accurately, how much you can afford. We established in the introduction that renovation jobs can be expensive, so it’s critical that you establish a reasonable budget before you decide to proceed with a home renovation.

In addition to setting a limit on spending, you should break it down even further, and figure out exactly where most of your money needs to go. For example: you may need to do extensive repairs in a living room, and want to get a high quality rug to help protect your flooring, while keeping your space beautiful, so you may opt to use cheaper paint to free up some funds.

How Much Can I Do Myself?

One of the costliest aspects of a home renovation project is bringing in specialists to take care of certain jobs you need to complete. It’s a delicate balancing act: on the one hand, there are certain jobs thatare too complex or dangerous, such as any electrical or plumbing jobs, that you’ll never want to do yourself; on the other, finding a quality contractor, who will do the job right the first time, can quickly eat up your funds.

Before you commit to a home renovation project, consider exactly what all you’ll need to complete, and gauge how much of it you can do yourself. Swapping out ceiling fans, painting, and potentially even blacktopping a driveway, are all jobs that are fairly manageable, and you can do yourself, saving you money in the long run.

For more intricate jobs, review the different specialists you could contract, read reviews to gauge their price and efficiency, and ensure that you can afford your choice hire.

Do I Have to Do It All At Once?

One critical aspect that you should always consider when planning a home renovation project is the severity of repairs and renovations needed. You may be tempted to take all of the inevitable pain up front, so it comes to an end faster, but you could be getting yourself into a situation where you have neither the time, nor the money, to pull it all off.

Instead, look at each aspect of your renovation, and see where you can afford to hold off. If you’re having issues with the home’s foundation, that could cause a severe and life-threatening collapse to occur, and you’ll need to address that immediately. Conversely, adding another room to your home to get a man cave setup sounds nice, but it doesn’t have to happen right now.  

By spreading out your home renovation jobs over a longer period, you’ll give yourself the time to raise the money, and set the conditions, that will ensure a quality job that will last you for years.