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FIND YOUR DREAM HOME OR APARTMENT
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Last year I did a total gut job on 2 bedrooms, and that cost about $3k in total.
That's how you keep costs down and make equity. Those 2 renovations probably added about $20-25k to the value of our house (it would now be appraised as a 3 bedroom instead of 2). That's just a bonus on top of the fact it's now 100 times better to live in.
The average prices listed for the home improvement projects outlined in this article are close to being realistic for the homeowner that takes on the entire project without a contractor, but some of the average cost listed in this article will vary in different regions of the country.
Remember, this article was written to give homeowners the average cost for various home improvement projects without a contractor, not with a contractor.
When you hire a contractor, you will have to add 50% or more to the average home improvement project cost and some contractors will add a lot more than 50% to the estimate after reading you to determine your basic knowledge of construction and material cost.
With a little research you can determine the cost of your improvement project with various web sites and big box store web site calculators that will calculate the material needed for your project and some online material calculators will automatically add 10% of the material for breakage, waste, etc..
Just like the article mentioned, some big box stores offer classes for various DIY home projects and you can also purchase home improvement project books at the big box stores. Also check out your local community college that may offer short 8 to 16 week courses on basic residential construction, plumbing, etc., if available in your area?
Every homeowner should also educate themselves on building codes that may be related to their home improvement project, a good place to start would be to buy a code check book available at technical books stores, online or at the big box stores. Remodeling projects MUST be followed to the manufacturer's installation instructions and built to code to prevent injury or death.
Depending on the scope of the project, you may need to apply for a city or county building permit. The permitting process will let you complete stages of your project up to a point prior to the city or county building inspector inspecting your work and giving you instructions to make needed corrections or permission to proceed to the next stage or to complete your project.
I worked in residential construction for over 12 years in Texas, I worked as a construction manager and inspector for a nationwide residential builder. I bought my new 2,300 sq' home through my employer at a discount in 2007. My employer was selling identical homes as mine for about $146,000 and I was able to purchase my home for $136,000 with my employee discount.
The cost to build my home for my employer was around $76,000, excluding the cost for the lot which was about $18,000 with the improvements. The $76,000 cost to my employer for the construction of my home included everything from the foundation up to completion with nice finishes.
I verified the costs by adding up the purchase & work orders for my plan/house that were sent out to the construction managers with the start package. The $76,000 total construction cost didn't include any administrative cost to my employer, the cost only covered the actual construction labor & material.
I didn't see any statistic about updating electrical panels and wiring.
We just did a major remodel of our home that included replacing sill plates and some exterior wall studs due to water damage, had blown in insulation done, replaced single pane windows with double, replaced doors and sliders, concrete around home was replaced so it slanted away from foundation, re-did kitchen, had a french drain put in for drainage and yard is low maintenance.
Cost was about $50K. Any idea how that affects the value of our home?
I wish I could afford these for my present this year.. but the whole theme for the Holidays is "low cost".. down to the great gifts I am buying.. I got these hilarious cookbooks for everyone.. all under $15! they are a bit unpc so I won't tell you the titile here.. but I can't wait to see the look on my Mother in Law's face when she opens it.. google Whipped and beaten culinary works" to find it.. but don't go if you can't take a good joke..
THese numbers are ridiculous. I build for a living and, as someone else said, couldn't even buy the materials for most of these projects for the average cost. They must have been looking at some other numbers or some old numbers. Also, the average expectancy can vary wildly.
They said the average roof price was less than $10,000. The last roof we did, the materials cost more than that. We were putting on average priced asphalt shingles. These have a life expectancy of 25-30 years. This was an average sized roof.
If someone wants to use ceramic, slate or other materials, the price will sky rocket into the stratosphere quickly. These have a longer life span but their cost is so high, it almost negates the life expectancy.
This is but one example of their numbers being so off. I could go on about other remodel projects and the problems with their numbers but it would be along similar lines to the roofing.