Determined to renovate your home, you would like to put a price on your project before starting work. This is reasonable! It is even a primordial stage, frankly. But everything is unclear for you, budget question? What’s more normal!
The cost of renovating a home is extremely variable. This depends, among other things, on the condition of the accommodation, the scale of the site (coatings, insulation, electrical renovation, etc.) and the company you use. Good Credit, the specialist in personal credit, tells you more. Follow the guide!
When to renovate your home?
The renovation of a home can take place in several cases:
- When you want to sell it (objective: increase its value);
- When you plan to buy it (objective: renovate it either to achieve a capital gain or to pay it ultimately cheaper than a new home);
- When you simply want to increase your daily comfort.
Whatever situation you find yourself in, it is very important to estimate the cost of renovating the house or apartment concerned. By knowing the budget to allocate to your work, you can plan your project in a serene and objective way.
Cost of renovating a house: what overall budget?
Determining the exact budget needed to renovate a house is a complex task, to say the least. Why? Quite simply because the price is largely conditioned by the nature of the work.
On average, the cost of renovating a house with a surface area of 100 m² is around 66,500 USD. For an equal area, the average budget to plan for the renovation of an apartment is 62,500 USD. This is, of course, an estimate.
Because in addition to the nature of the work and the type of property (house, apartment), the price of a renovation will depend on the location (large or small town, countryside …).
For example, renovating a house or apartment in the heart of Paris will generally cost you more than in a provincial city. The price difference will be even more marked compared to accommodation in the countryside.
This is partly due to the fact that in a big city, the needs in terms of tranquility are increased (better sound insulation, in particular).
Tip: call a real estate diagnostician
This professional will help you to make a precise inventory of your house or apartment, but also to classify the work to be done in order of priority.
He will carry out, among other things, a diagnosis of the energy performance (insulation of the roof, roof spaces, low floors …), a state of asbestos, a report of risk of exposure to lead, a report relating to the presence of termites and a state of interior installation of gas and electricity. The use of this professional is also strongly recommended before even buying a home.
Home renovation price by item of expenditure
Do you have a better idea of the various works required to renovate your home? Now is the time to look at the price of the different expense items! The cost of renovating your home will differ depending on your needs. To give you an idea of the budget to reserve for your project, here is a costed listing:
- Plumbing refurbishment: from 5,000 USD;
- Renovation of a roof: 10,000 to 20,000 USD;
- Renovation of electricity: 30 to 50 USD / m²;
- Renovation of heating: 10,000 to 20,000 USD;
- Renovation of joinery (windows, doors): 5,000 to 10,000 USD;
- Refurbishment of insulation: 20 to 60 USD / m²;
- Masonry renovation: 30 to 50 USD / m².
What price per m² according to the “work package”?
The size of your accommodation is a determining factor. It will directly influence your work budget. In order to assess the cost of renovating your home, it may, therefore, be worth having an idea of the prices per square meter depending on the type of renovation. Obviously, the more elements there are to renovate, the higher the cost. Count on average:
- 300 to 450 USD / m² for a basic renovation including painting work, laying of floor and wall coverings;
- 500 to 900 USD / m² for a complete renovation including the refurbishment of the insulation, the upgrading of the electrical installation and plumbing, the installation of floor and wall coverings, or the renewal of furniture;
- 1,000 USD and more for the restoration of an old house or apartment, including masonry and sanitation work, upgrading of plumbing and electricity, laying of coverings, etc.
Each renovation project is different. These prices, given as an indication, will allow you to roughly determine the budget to be devoted to your work.
Other factors affect the cost of renovating a home
The cost of renovating a house does not only depend on the nature of the work, the area to be renovated or the location of the house itself. There are also two other parameters to consider:
- the cost of labor;
- the quality level of equipment and materials.
How to control the price of labor?
Labor represents a significant part of your budget: sometimes more than half, if you only use craftsmen! To have some control over this point in terms of cost, it is essential to have several quotes drawn up. At least three.
Quote in hand, you can:
- Know the exact budget of the work;
- Compare the prices and services offered by each company;
- And finally, to compete by choosing the company that offers the best price.