What Will Home Improvement Projects Cost?

Many buyers want a move-in ready home, but with the tight market and New England’s older housing stock, it’s not always possible to purchase one. If everything you can afford needs a little updating, you need a general idea if you could realistically afford to make updates over time and eventually be happy with the home. While different contractors and the size and scope of projects will affect pricing, there are some basic averages you can look to when deciding if certain projects are feasible.

The good news is that home improvements may not be as costly as you think, and you can also prioritize and spread them out instead of doing them all at once. Remember, a home in need of some updates shouldn’t necessarily be crossed off your list!

Here are the average costs of some common updates that you may want to take on as a new homeowners:

• Bathroom remodel – A full bathroom remodel can run you about $10,000, but a simple refresh can be done for much less. Consider painting or refinishing the cabinetry, updating the fixtures and lighting, and having a professional cleaning and regrouting of the tile done for an updated look at a fraction of the cost.
  
  
• Kitchen remodel – A new kitchen can cost you around $25,000, especially if you are updating all of the appliances. However, refinishing the cabinets and replacing the countertops can work wonders. If you add new appliances to a simpler refresh, the average cost is about half of a full remodel.
  
  
• Building a new deck – New decks can vary in size and type of material used, but the average cost will be about $5,000 - $7,000.
  
  
• Installing a new furnace – On average a new furnace runs about $4,000- $6,000 installed. If a repair could solve the issue, it can cut your bill down to $300- $500.
  
  
• Installing new entry and garage doors – Depending on the type and design of door you choose, expect to pay between $700-$900. A new garage door will run you about $1,000.
  
  
• Painting the exterior – Painting a home’s exterior can vary greatly depending on the size of the home, but the average cost of having it professionally done is about $3,000. You can save a substantial amount by doing this job yourself.
  
  
• New hardwood flooring – Naturally, the cost to put new flooring into a room depends a lot on the size of the room and the flooring you select, but a ballpark figure would be $2,000- $3,000.

As you look at homes for sale, it is important to know the general costs of what you would need to repair or replace. When you make the needed improvements to a home yourself, you’ll get to choose the details, quality and style that fits your personal tastes, which means your “new to you” home can truly be your own.