This Is How Much Common Renovations Actually Cost
Find out the real prices of those en suites and fancy foyers.
Thanks in part to iconic fixer-uppers like Chip and Joanna Gaines and the Property Brothers, the American home renovation market is booming. According to a 2019 report from the Joint Center for Housing Studies of Harvard University, Americans are poised to spend more than $350 billion on home remodeling and repairs in the first quarter of 2019, up about 25 percent from $279 billion in the first quarter of 2016.
In light of this uptick in home remodeling and renovations, we've identify the most common home renovations in the United States—and just how much they'll cost you, based on Remodeling magazine's 2019 Cost Versus Value report.
The kitchen is the heart of the home. It's where meals are prepared, where families gather for dinner, and where late-night snacks are snuck from the fridge. Considering the room's importance—and how many pricey appliances are contained therein—it's no wonder a midrange kitchen remodel costs a pretty penny: an average of about $66,000. If you want a more upscale renovation—think Sub-Zero fridges, custom cabinetry, and imported tile—you'll likely pay nearly double that amount, or around $131,500.
Building a Deck
Eager to transform your exterior space without tearing up your lawn? Good news: A deck addition may be more affordable than you think. Building a wood deck costs an average of $13,000, while a composite one costs $19,000.
Turning that outdated powder room into something more modern is actually one of the more affordable renovations out there, so long as you don't go overboard. If you're going for a mid-range remodel—an update on a 5 x 7 bathroom that replaces all fixtures from the tub to the toilet and includes a new medicine cabinet, flooring, and vinyl wallpaper—you'll spend an average of $20,500.
An upscale remodel with a frameless glass shower, freestanding tub, a stone double vanity, high-end fixtures, and custom cabinetry, however, is a little bit less affordable: These luxurious upgrades will run you about $65,000.
Replacing a Roof
Depending on the type of roof your home has, you may need to replace it once or twice over the years. While a metal roof could be good for up to 75 years, composite shingles only last up to 20, according to New York-based roofing company A&J Reliable. The unfortunate news is that when you do inevitably replace your roof, it'll cost you. Redoing an asphalt shingle roof costs an average of $23,000, while adding a metal roof to a home typically sets a homeowner back just under $39,000.
Garage Door Replacement
You can keep your cars and tools secure, keep unwanted pests out, and improve your home's curb appeal all with one simple addition: a new garage door. Better yet, while this project costs an average of $4,000, it recoups 97.5 percent of its value when it's time to sell. Pretty impressive!
If you've decided that you're ready for your two-bathroom home to become a three-bathroom, start saving now. Adding a midrange bathroom to a home costs an average of $47,500, while an upscale bathroom addition costs $88,000.
Adding a Patio
Creating a Grand Entrance
Removing your existing front door to create a larger entryway with lighting on either side typically yields a 71.9 percent ROI at sale time. But how much will it cost to do? According to Remodeling's report, an average of $9,000.
Replacing a Front Door
Though replacing a front door is one of the least expensive and least invasive remodeling projects, it yields one of the largest ROIs. Swapping out your wood front door for a steel one, for instance, will cost you an average of $2,000, but you'll likely recoup $1,500 of that cost when you put your home up for sale.
Creating a Master Suite
The addition of a master suite to your home might cost you nearly as much as your home itself! A 24 x 16-foot midrange master suite—including a walk-in closet, ceramic tile shower, freestanding soaker tub, double vanity, and carpeted bedroom—costs an average of $131,000. An upscale version—32 x 20 feet in size with custom bookcases, a gas fireplace with a custom mantle, heated floors, a linen cabinet, a wet bar, and a "luxury one-piece toilet"—costs $271,500.
Dented, dingy, or mildew-stained siding can detract from the appeal of an otherwise attractive home. If you need to replace your existing siding, or want to swap it out for aesthetic reasons, you're going to be spending an average of $16,000 for a 1,250-square-foot job.
Installing New Windows
Giving your home a clearer view, reducing the amount of street noise, and lowering your heating and cooling costs with new vinyl replacement windows will cost you $17,000 on average. Upgrade those windows to wood, however, and you'll pay an even pricier $20,500.
Adding Stone Veneer
Complementing the siding on your home with some manufactured stone veneer will cost you an average of $9,000, but that investment will be well worth it when you sell your home. According to Remodeling's report, 95 percent of that cost is typically recouped at sale time. And for more ways to beautify your home's exterior, check out these 40 Simple Tricks for Boosting Your Home's Curb Appeal.
To discover more amazing secrets about living your best life, click here to follow us on Instagram!