When you bought your home, it was exactly what you were looking for. But that won’t last forever. As time passes, what you need from your living space changes. Even if it doesn’t, your home will require upkeep. Either way, at some point, you’ll need to hire general contractors Los Angeles CA for a remodel. And before you do that, you’ll need to calculate your home remodeling budget so that you know what kind of expenses to prepare for. The cost will depend on a multitude of factors. You’ll need to take all of them into consideration if you want to accurately judge the price of your project.
Calculate your home remodeling budget based on average prices in California
Although the actual price of your remodel depends on a lot of factors, you can look at average home remodeling costs in the state to get an idea of what to expect. This is important and useful information. Not only does it help you prepare your budget, but it also tells you what the normal price range is for a typical remodeling project. If your contractors cite something much higher or much lower, that’s a red flag.
The cost of remodeling a California home
If you want to remodel your entire house, you’ll have to count on some serious expenses. The general rule of remodeling is that a remodel should cost no less than 5% and no more than 15% of the current value of your home. Anything that costs less than 5% of the value of your home is probably not worth doing. Anything that costs more than 15% of your home is too big of a task for a remodel to fix. The national average is for a remodel to cost around 8% of the house value. You can use these statistics to determine the price range of your project.
Typically, remodeling contractors Los Angeles charge between $100 and $300 per square foot for a full home remodel. On average, people pay around $47,000 for a full home remodel. But prices range from as low as $3,700 to as high as $150,000. Most homes, however, are remodeled for a price somewhere in the $18,000 -$76,000 range.
The cost of remodeling a room in California
If you’re only remodeling a single room in your home, the total price will be lower. However, you’re still most likely to be looking at 5 digits:
- a minor kitchen remodel typically goes for around $130 per square foot or $25,000-$27,000 in total
- major kitchen remodels in the mid-range will cost you around $50,000 (with high-end projects going for more than double that)
- a minor bathroom renovation Los Angeles will require between $15,000 and $25,000
- you’ll need $26,000-$38,000 for a major mid-range bathroom remodel
- high-end major bathroom remodels start at around $55,000
For a master suite, you will need a bigger budget. At $400-$500 per square foot, remodeling one can cost between $150,000 and $350,000.
The cost of room additions and conversions
If you want to add some space to your house, the price per square foot goes up. You’ll pay between $250 and $400 per square foot on additions, with the total price depending on how big of a room you’re building. Finally, an ADU conversion will cost you between $300 and $400 per square foot or $100,000-$400,000 in total.
Calculate your home remodeling budget based on the specifics of your project
The average prices of home remodeling projects in California will give you a good idea of what to expect. But once you make calculations based on them, you should adjust your expectations to better suit the specifics of your home. Here are some of the things you need to take into consideration:
The size of the room or house and the extent of the project
The most obvious factor to consider is the size of the room or house you’re remodeling: the bigger the room or house, the more expensive it is to remodel. Since most prices are expressed in SPF (square-per-foot), you’ll need to know the surface of the area you want to remodel. Then you can easily calculate the price from there.
The other obvious factor is how in-depth you want to go with your remodeling project. It’ll obviously cost less to simply replace your kitchen cabinets than it will to completely redesign the entire kitchen. So, keep that in mind as you gauge your remodeling costs.
The materials used
The quality and type of materials you use for your remodel will affect the total price. High-end materials like marble and redwood will add to your costs. However, you must think long-term as well. Although higher-quality materials cost more initially, they tend to last longer which means you don’t have to replace them as often as cheaper materials. Finally, if you’re interested in a more eco-friendly way of life, you’ll want to consider green building materials. They cost more initially, but they’re better for the environment and can save money in the long run.
When you hire a contractor, you’re not just paying for the material and the tools. You’re also paying for the workers’ expertise and time. About 20% of remodeling and renovation costs are labor costs. Different companies charge different rates for this. A well-established contractor with experience can easily charge you much more than someone who’s only just starting in the business. However, their craft is usually well worth the price because of its quality.
Other expenses to consider when you want to calculate your home remodeling budget
The cost of the remodel itself is not the only thing you need to budget for. While work is being done in your home, you’ll need a place to stay and a way to continue living your life normally. So if you want to calculate your home remodeling budget accurately, you need to take the costs of living into account as well. Will you be staying with a friend or do you need to rent a hotel room? How long will you need to be away? What will you eat if you don’t have access to your kitchen? Will you need to change your commute to work? All these will be additional costs that you should budget for when you plan a home remodel.