Renovating your New York City property, whether it's a full home renovation or a simple bathroom renovation, can increase your property value and make it more enjoyable to live in, in general.
However, renovation costs are going to play a big part in whether or not your efforts are practical and worth it, or a complete bust.
We have years of experience renovating New York City homes, apartments, bathrooms, and just about everything else. So, we're going to give you a short, easy-to-understand rundown of what you can expect to pay in renovation costs for your next project.
Home and Apartment Renovation Costs
Fully renovating your house or apartment is going to be a bit more expensive than a more targeted approach such as only renovating a bathroom or kitchen. So, set your expectations accordingly.
For a complete home renovation, you're going to spend between $200 and $300 per-square-foot on average. That price fluctuates with each room, and wet rooms such as bathrooms and kitchens can easily reach the $400 per-square-foot range.
On average, a full, non-gut renovation will cost you between $200,000 and $300,000 in total for an average-sized home. However, you should expect that price to skyrocket towards $400,000 or more if you decide to perform a gut-renovation or add a lot of high-cost customizations to your property.
For reference, a gut-renovation includes rewiring, wall repair, plumbing work, and other extensive infrastructure work. A non-gut renovation is when you simply replace cabinetry, appliances, flooring, and other simple changes.
As a rule of thumb, use the following chart and multiply by your home's square footage for a solid starting budget:
- Non-gut: $100-200 per-square-foot
- Full-gut: $250-400 per-square-foot
- Full-gut with high customization: $500 per-square-foot
The costs of an apartment renovation are largely the same, but there are minor fluctuations due to the extra work involved to secure permits and provide a comfortable atmosphere for other tenants.
Targeted Single-Room Renovation Costs
Single-room renovations can boost your property value and give you a better overall experience with the room you renovate, but they're also a lot cheaper due to the smaller amount of work that needs to be done.
Bathroom renovations are going to be some of your most costly single-room renovations, but their small size makes them far more affordable than a full-home renovation.
For wet rooms such as bathrooms, kitchens, and laundry rooms, you should expect to pay around $600 per-square-foot. This is due to the more specialized materials that have to be used, and the fact that some plumbing work is often required. If you plan to add heated flooring or other upgrades, the price can jump to $700 or more per-square-foot.
Dry rooms are considerably cheaper to renovate, and you shouldn't pay more than $200 per-square-foot unless you're gutting the room or doing a lot of customization. You can even pay as little as $100 per-square-foot if you go with basic renovation options.
Trust the Pros with Your Renovation Needs
At Intrabuild, we've spent years dedicating ourselves to renovating homes, apartments, offices, and every other type of space in the New York City area.
We're a no-fuss, cost-effective, construction firm that puts your vision and needs first. Call today for a consultation, and let's get started on your next renovation.