Most expensive home improvement projects, ranked
Oftentimes when buying a fixer upper, many soon-to-be homeowners underestimate the cost of remodeling a home, leaving them stunned when they set out to renovate particular areas of their home.
Would you believe the average homeowner will spend anywhere from $15,000-$200,000 renovating the entire house?
If you’re in the market for a fixer upper or if you’re ready to tackle a renovation project of your own, here are 6 of the most expensive home improvement projects, ranked.
Coming in at one of the most expensive renovation projects on this list, an updated kitchen costs an average of $150 per square foot. Most homeowners can budget about $25,000 for a small reno and upwards of $60,000 for a larger, more upscale kitchen remodel.
With the bulk of your costs coming from cabinetry, you can save quite a bit of money if you simply add a fresh coat of paint on them. Counter tops also add quite a bit, and at 10% of the overall kitchen cost, you may want to look into cheaper options like butcher block if you’re trying to save money.
Depending on cabinets, fixtures, countertops and finishing elements, a bathroom remodel can cost between $4,000-$28,000 for a smaller bathroom and $35,000-$55,000 for a larger bathroom. Just like with a kitchen renovation, you can save money by repainting old cabinetry, choosing inexpensive countertops and doing some of the work yourself.
Many prospective buyers have plans to add in a screened porch, but quickly rethink that once they realize the cost. Most screened porches are around 16×16, and typically run around $45,000 and increases as you add in more expensive elements like composite decking.
Open living spaces are on the top of everyone’s wish list, but if the home you’re considering doesn’t have quite the layout you’re looking for, you may consider the possibility of knocking down a wall.
Hopefully the wall you want to knock down isn’t load-bearing, as those projects are significantly cheaper than demoing load bearing walls.
To remove a wall that’s load bearing, you can expect to spend around $3,000 for a single story home and $10,000 for a multiple story home. If the wall isn’t load-bearing you’ll come in significantly cheaper, and can usually accomplish the job for under $1000.
Replacing your roof
Averaging around $8,000, replacing a roof can easily give new homeowners sticker shock! Actual cost will depend on materials used, and the shape and pitch of your roof. Unfortunately, a roof is not an area that too many DIYers attempt, and for that reason, there’s not a ton of wiggle room on the overall cost.