The Real Costs of Renovations

There comes a time in every home owners life when the urge to renovate strikes. Whether you’ve been in your home for 20 years and it’s time to update your kitchen or you’ve just bought a fixer upper, people often wonder how much it really costs to renovate a house. The answer, of course, depends on a variety of factors but here’s what you can expect…

According to realtor.com, average renovation costs are as follows:

• Low ($25,000 to $45,000): Interior and exterior painting, small repairs (like refinishing cabinets) and new landscaping.

• Medium ($46,000 to $75,000): The low-cost upgrades above, plus a total kitchen renovation and minor bathroom upgrade.

• High ($76,000 and up): Low- and medium-cost upgrades, plus fixing any foundation issues, roof and sewer line problems. 

These numbers are only a guideline but it’s important to understand the expenses especially if you are buying a home that needs work. Renovating a house is a great way to customize your home but the costs can add up quickly!

source for renovation estimates: realtor.com

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