The Most Expensive Home Renovations to Undertake
Most homeowners are looking for cheaper ways to make their homes more beautiful and livable since living costs are rising every year. While some home renovations cost a lot of money upfront, many can be done at a low or no cost. The following are the most expensive home renovations that will leave you with an updated, high-quality home that is worth the money.
Replacing your windows
Replacing your windows is one of the most expensive complete home renovations. Although buying new replacement windows is costly, it can help improve your home’s energy efficiency and appearance. In reality, drafty and old windows can make your home appear outdated and can allow cold air, resulting in increased energy bills. However, you can choose windows designed to minimize noise from the surrounding environment, especially if you live in a busy area. If you install energy-efficient windows, you can begin to save your utility bills within a short period.
Adding a patio or decking to your garden
You can transform your backyard in many ways, including a deck. Choosing the right type of material is crucial because you will also have to add a railing and a flooring plan, which can be expensive. It is relatively easy to install your wood or composite deck at around $1,200 per square foot, but if you want something more elaborate, like steel or stone, it could cost approximately $2,600 per square foot. If you are looking for custom designs made from composite materials like cedar or pressure-treated lumber, expect an extra charge for the design and installation of these new materials. If you have an adequate budget, consider hiring an expert to establish an intriguing patio or deck. They can assist you in selecting the ideal design and materials to complement your home. However, if you have adequate DIY skills, you can build the patio to save money.
Renovating your kitchen
Your home kitchen includes another critical home in your home that deserves a renovation. A kitchen renovation is a huge project, but it is rewarding since most buyers consider a kitchen first when buying a new home. You can add an island, energy-efficient appliances, and new granite countertops when renovating your kitchen. Energy efficiency is also vital for kitchen appliances, especially those that consume a lot of electricity. Start by replacing your old dishwasher, refrigerator, oven, and microwave with ones that are more efficient and thus cost less to run annually. You can also install low-flow faucets, showerheads, and toilets for the same purpose.
Bathroom
You may be surprised to learn this is the most expensive place to remodel or renovate. If you have a unique space like an oversized one with marble or chrome fixtures, it could cost more than $50,000 to redo it in your home – especially if there is no room for a third sink. If you want to add new features like marble countertops and appliances, expect the price to increase even more.
Fireplace
Landscaping your home can come with a hefty bill. If you want to add an outdoor fireplace, it can cost around $2,500 for a do-it-yourself project or approximately $8,000 for professional installation. If you choose the DIY route, you will need to consider building permits, the design and materials required for the structure, and even a permit from your local fire department just in case of a fire hazard is involved. The good news is that an outdoor fireplace can increase your home’s appeal if done correctly.
Basement
A basement is something many homeowners dream of having, and it can add value to your house. However, transforming your space can be pricey as you need contractors, builders, and architecture services. If you do it yourself, you will also have to look at additional expenses like materials and tools. For basements, generally, the costs are usually around $30 per square foot if you use concrete walls – which may cost a little more than $2,850 for a 500-square-foot room–but it is about the same for an unfinished basement with standard drywall.
Conclusion
No home is ever perfect. That is why so many homeowners find themselves undertaking what are called home renovation projects. While most home renovation projects are relatively inexpensive and can be completed in just days, some will cost you dearly – in some cases, tens of thousands of dollars. Home renovations can be necessary for several reasons, such as the need to repair damage from a storm or other natural disaster, to make something more accessible for a person who has mobility limitations, or to improve a room’s energy efficiency.
