Estimate Your Home Renovation Cost

• Organize your renovation with thorough research in terms of all the requirements.

• Set a realistic home remodeling budget. Always include leeway for some surprise costs. Experts believe that you should add 20% extra to the existing price range.

• Consult your calendar. Set a project end date and work your way backward.

• Plan your home remodeling during an off-season. Avoiding the spring and summer rushes will be kinder to your wallet.

• Work only with expert contractors who you trust. A professional finish goes a long way in adding to the beauty and value of your home.

• Know which tasks you can safely tackle and which should be handled by the pros, such as adding or removing a potentially load-bearing wall or dealing with asbestos or lead paint.

• Keep in mind that your contractor should have expertise in all areas of home remodeling: construction, plumbing, electrical, and lighting.

• Always ask for references. Don’t rely solely on client testimonials. Instead, talk to actual customers who can give you their firsthand accounts and answer all your questions.

• Always check your local building code for permit requirements as well as building inspections. Generally, structural, electrical, and plumbing changes require permits.

• Make your house remodel as simple as possible. Declutter, pack up, and move any items away from the renovation zone during the process.

• Ensure the safety of your kids, elderly family members, and pets.

• Plan for power and plumbing outages in advance. Your remodeling might require you to shut the water and/or electricity off.

• Choose quality materials for the project even if they come at a higher price. There will be less repair work in the future.

• Get a written contract from your contractor with a warranty or guarantee, details of the complete schedule, deadlines for milestones, and the payment process.

• Maintain a timeline in order to manage a seamless job.

When it comes to remodeling projects, you should aim at getting at least a 65% return on your investment (ROI). A good way to begin your home remodeling journey is to consult an experienced local realtor, as they have a pulse on your neighborhood, what buyers really want, and they also know good designers.

Most renovations, whether large-scale or small, add value to a property. Even if you do partial updates, such as replacing kitchen cabinets or painting the kitchen walls, instead of undertaking an entire kitchen remodel, it can increase your home’s value significantly.

Bathroom and kitchen remodeling gives one of the highest returns on investment -- From 70% to 125% of what you spend. According to the National Builders Association, a half bathroom addition can boost the value of an average house by 10.5%, while a full bathroom addition can boost the house value by 20%.

In terms of exterior remodeling, siding replacement and home roof replacement bring in the highest ROI. Replacing old siding can get you up to 85% ROI, while a new roof can add as much as 109% ROI.

Replacing windows and doors, yard landscaping, and deck installation are a close second with 70% to 105% ROI.

In terms of interior remodeling, a fresh coat of paint on the walls is one of the most effective ways to boost the value and appeal of your property. That can be done without spending too much.

Other remodeling projects to consider are finishing the basement, attic conversion, and building a garage. Interestingly, updating the internal systems of your house, including plumbing systems, heating and cooling, and sewage system, can significantly improve your home value.

Whether you’re giving a makeover to an investment property or your own dream home, it’s a smart move to invest in remodels that have the highest ROI. Home improvement projects that greatly increase the curb appeal and functionality of the house are generally the most value-enhancing.