Home Renovation Budget Planner
Create a realistic budget for your remodeling project
Tip: Most renovation projects cost 10-25% more than initial estimates. Always include a contingency fund.
Project Components
Labor & Additional Costs
Renovation Budget Estimate
Cost Breakdown
Materials:
Labor:
Permits & Fees:
Subtotal:
Total Budget
Contingency (%):
Design Fees:
Estimated Total:
Cost Per Sq Ft:
Budget Allocation
Planning Tips:
Planning Your Home Renovation
Proper budgeting is the foundation of any successful home renovation. Our calculator helps you estimate costs based on real-world data from thousands of projects across different regions and quality levels.
Typical Renovation Cost Ranges
| Project Type | Budget | Mid-Range | Premium | Luxury |
|---|---|---|---|---|
| Kitchen Remodel | $10,000-$25,000 | $25,000-$50,000 | $50,000-$100,000 | $100,000+ |
| Bathroom Renovation | $5,000-$15,000 | $15,000-$30,000 | $30,000-$60,000 | $60,000+ |
| Basement Finishing | $15,000-$30,000 | $30,000-$60,000 | $60,000-$100,000 | $100,000+ |
Hidden Costs to Consider
- Structural issues: 10-20% of projects uncover unexpected structural repairs
- Code compliance: Older homes may require electrical/plumbing upgrades
- Living expenses: Temporary housing during major renovations
- Storage costs: For furniture during the project
- Waste removal: Dumpster rentals and disposal fees
Frequently Asked Questions
How accurate are these estimates?
Our calculator uses regional cost data from recent projects, but actual costs can vary by 15-30% based on specific materials, labor rates, and project complexities. Get 3 detailed quotes from contractors for precise budgeting.
What's the ideal contingency fund?
Most professionals recommend 10-20% of total project cost. For older homes or major structural work, consider 25-30%. Our default is 15% which balances preparedness with budget realism.
How can I reduce renovation costs?
Consider: 1) Doing demo/disposal yourself, 2) Choosing stock over custom items, 3) Scheduling work in contractors' off-season, 4) Reusing existing layouts to avoid plumbing/electrical moves, and 5) Phasing projects over time.
Should I DIY to save money?
DIY can save 20-50% on labor costs, but only for tasks you're truly skilled at. Poor work often costs more to fix. Good DIY candidates: painting, simple tile, trim work. Leave electrical, plumbing, and structural work to professionals.
How do I prioritize renovation elements?
Focus first on structural/safety issues, then functional improvements, and finally aesthetics. Allocate budget to items that add lasting value: quality cabinets, good lighting, proper insulation. Save on trendy finishes you may replace in 5 years.