How Much Does Home Improvement Cost – UPDATED: Click to read our most up-to-date NYC kitchen remodeling Costs here and NYC bathroom remodeling Costs here
According to general contractors, the typical price range for a whole house remodel in NYC is $100 to $200 per square foot (psf). This standard starting range includes both labor and materials, and represents average costs in both “wet” spaces, such as bathrooms and kitchens, and “dry” spaces, such as bathrooms. -living, bedrooms, and offices. This is because wet space remodels tend to be much more expensive per square foot, with a higher density of materials, finishes, and specialized labor (think plumbing, tiling, and more).
How Much Does Home Improvement Cost
Pandemic tip: Don’t wait. There is a backlog in the supply of construction materials. For homeowners interested in renovation, it is smart to schedule and sign with a contractor to lock in your material prices. You must also book a start date on the contractor’s schedule.
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A gut will start at the higher end of the range of $100 to $200 psf, while a renovation in which you will re-do the space in the existing walls will be at the lower end. For example, in a 700 square foot, one bedroom apartment, a renovation will come in around the $50,000 to $70,000 range, while a gut renovation will likely exceed $100,000.
Non-gut renovations can involve a new kitchen and bath, as well as refinishing the floor, repainting and painting, along with upgrading materials and finishes. The gut renovation will include the above as well as the replacement of walls and floors, and possibly the installation of new piping and wiring systems and moving doors.
Because New York City apartments vary widely and can present unique challenges, an estimate per square foot is really a ballpark figure for you to start with. Here’s an overview:
This does not include appliances. Also keep in mind that the choices you make for visible materials—tile, flooring, millwork, paint, light fixtures, electronics, and more—can significantly affect the price of your renovation.
Our Ultimate Renovation Checklist Will Help You Plan Any Project
One thing to note: While contractors try to explore all means to remain competitive, it is an industry that is affected by trade. The prices you are quoted at any time may not be the same six months or a year from now. Labor and materials prices vary and this will be reflected in your overall quote.
At this level and beyond, you can expect to see more extensive customization, fine finishes, and luxurious materials. This includes handmade tiles, exotic wood grains, natural stone, and custom millwork details that complement the home’s architecture. You can also see custom door casements and extensive lighting details.
Depending on your general contractor and your level of involvement in the project, you may also want or need professional design services.
If you live in a co-op or condo building, you will likely need to submit your architect-drawn plans to your building board. Co-ops are generally stricter on renovations than condo buildings, although many condos are now adopting stricter rules as well. Buildings may also have minimum requirements for construction insurance.
How Much Does A Kitchen Remodel Cost? (2023)
Some alteration agreements require a security deposit to cover potential damage. They may also include the fees incurred by the co-op or co-op board to review and approve your plan. You may find that contractors who can afford to work on buildings with more extensive specifications have higher rates in order to meet higher insurance requirements.
The NYC Department of Buildings requires you to obtain permits and inspections for many types of construction work, including plumbing, electrical and structural. Permits can add up. An electrical permit can run close to $900, plumbing permits can cost from under $2,000 to $5,000, and an asbestos inspection can be $500.
Depending on the state of the original space, you may need to do extensive preparatory work after demolition and before installation. Older apartments almost always require stripping, leveling, and plastering. Uneven floors and walls must be leveled before cabinets can be hung, doors framed or tiling installed. These costs are determined by the general contractor once they have a chance to examine your space.
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General contractors are seeing wood materials as the main increase in costs. “These material costs have increased about 3x the amounts, from what we’ve seen,” said a NYC contractor. “These, in turn, relate to higher costs for plywood subfloors, kitchen cabinets, and other woodworking-related projects.”
Compared to the costs for the “visible” parts of your renovation, pricing for the “invisible” costs can be difficult to anticipate. While the work is a clear one, keep in mind that different forms of work can be priced very differently. Wiring and plumbing, for example, tend to be expensive. And over the past year, master plumbers and electricians have seen costs increase, “primarily due to the safety measures and certifications that have been imposed on these trades by the Department of Buildings,” said the NYC general contractor Aaron.
Plumbing generally runs between $1,500 to $2,000 per fixture in New York City. So, prepare for at least $5,000 for a licensed plumber to run new lines for a sink, toilet, and bathtub. Skimmed coating, a technique that smoothes a wall, hiding all imperfections, is the most expensive type of work. In some cases, it may be more affordable to tear down old walls and put up new drywall.
Consider that from the contractor’s perspective, “work” on the budget proposal may include not only the hourly rate they pay their workers, but also insurance, licensing, and other general fees that keep n -their business works. (Contractors typically take home a 10-15% profit. For example, if they do $2 million worth of business this year, they’re trading around $200k.) Insurance and other costs of running a business add up a year after a year, and while the costs are not passed 1:1 to the client, the contractors have to raise the prices to maintain the operations. Some show a specific line on the budget for profit/overhead, while others build it into other budget lines.
Have You Saved Enough To Cover Your Entire Renovation Cost?
Once you’ve accounted for each line item in your budget, allocate an additional 10 to 15 percent as a cushion. Projects can go over budget as a result of unforeseen circumstances, so it’s good to err on the safe side.
Many factors go into estimates per square foot. Trying to come up with a plan that fits your budget? Here are some tips from contractors and renovating homeowners:
Mix high and low. This refers to materials, which must be chosen for maximum impact. You can choose handmade tiles for the kitchen backsplash while sticking with an off-the-shelf option for the second bath. Make a custom declaration where it really is noted, and use standard materials where it is not.
Don’t skimp on the plumbing and electrical infrastructure. Although these aspects probably won’t get many compliments at a dinner party, you still need licensed and qualified experts for these jobs. If you don’t, there could be expensive problems to deal with in the long run.
What Low Cost Home Improvements Should You Make Before Selling Your Home?
Focus on kitchens and baths. Spend your money here! A kitchen update and a refreshed bathroom have the most resale value impact.
Consult experts in advance. If you are inclined to hire an architect or designer for a major transformation, get them on board early. This can save you money by drawing up a clear plan, which helps you avoid costly changes mid-stream. Set aside 15 to 20 percent of your budget for this professional. Overall, hiring licensed professionals early is a cost-effective way to avoid insurance headaches later by using their expertise to avoid mistakes that could lead to delays.
When you’re ready to start your home makeover, work with her to arrange the best contractors in NYC.
Not sure how to start your renovation? Click here for the six steps on how to plan your remodeling and how to find a vetted general contractor.
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An average full house renovation in NYC will cost between $100-200 per square foot. A gut renovation will start at the higher end of the $100-$200 psf range. “Wet spaces” with plumbing have higher gut costs: kitchens will cost, on average, $300 per square foot, and bathrooms, $400 psf. Gut renovating dry spaces without plumbing will cost between $30–$50 psf.
The visible parts of a bathroom—tiles, sinks, vanities, tubs/showers—will directly impact the final costs, as will the type of work being done (gut renovation vs. rip -and-replace.) In New York City, a bathroom remodel budget will start at $600 psf; or $21,000 for a 35 square foot space. Mid-grade bathrooms start at $700 psf, or $24,500 for a 35-square-foot space. High-end remodels will start at $850 psf, or $68,000 for an 80-square-foot space.
Kitchen and bathroom renovations have the highest resale value in NYC homes. It even makes a “rip-and-replace” renovation more budget-friendly (where old appliances and cabinets are swapped out for new
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