$100,000 is a lot of money, but is it enough to fully renovate an older home? This is what we are going to discuss. I will walk through some of the details of what costs actually look like and where you might be able to save some money. I’ll also go over some expenses you may not even be thinking of just yet.

After we get through the ugly cost to renovate, we’ll talk about how to actually pay for your home renovation. And we’ll see if the budget to remodel a house will actually increase the home’s value.

So, let’s get started!

Tell me the average cost of a house remodel?

According to HomeAdvisor, the cost of a remodel was estimated at approximately $46,755. If this figure has to be included homeowners who complete only one or two projects at one time. Most homeowners should spend somewhere between $100,000 and $200k for a house renovation.

Determine the financing before finalizing your budget

Financing available

Before planning your own money for your home renovations, it’s important to understand your financial situation and the way to proceed.

Just a bit of advice when planning to pay for this size of the renovation project, you will want to use 10 percent of what you have left for unexpected expenses. When you set a percentage aside for the start-up you will know you will always have the right resources to finish your project if a re-working happens.

If the project is a bit out of hand, you can always pull in extra money to help you finish your remodel.  It’s important to keep a financial monthly budget and pay down any balance on credit cards or home equity loans. You will need to be careful when it comes to paying for this style of living.

By hiring early demolition workers or the right contractor for investigations there should probably be very little unrelated work to do.

Once you have a budget to workaround, you can then begin planning for detailed home renovation costs. A lot of factors will go into where most of the money is spent, like what kind of square foot totals you have, what sort of materials you are using (light fixtures, high-end appliances, etc.), and what the style of home is.

When it’s all said and done, home remodeling can cost a pretty penny in your area. According to Remodeling Magazine, homeowners can expect that a house renovation will run approximately $40-$50 per square foot.

This can fluctuate of course, but that isn’t a bad number to keep in the back of your mind.

Before we get into the room by room cost, let’s dive into some other topics of discussion that you may want to bring up with your general contractor.


The cost of your remodel will also reflect the price of living in your neighborhood. HomeAdvisor estimates the costs of remodeling & renovating a home in the US from $39,000 to $95,000.

One similar development in Colorado’s Denver probably costs from about $13,600 to $56,600. The base cost for materials like appliances and countertops and labor in a large contractor could become also higher.

Decide what you want

Once financing is in place, know what your final plan should look like. Take time to check the design ideas online or visit a local home store where there are different home products. Check up on options out there that can help you with an estimated price that you expect to pay.

The more information you can get about products and how much does it cost, the more accurate they’ll be. So keep up on the detailed designs. Visit any store for inspiration in design.

Choose your materials carefully

Material costs are always the most variable expense during house repairs. It would be best to invest the most money in the room with the greatest focus area. Such as for top-quality appliances. Keep in mind that expensive items are typically priced for a square foot hence you should always keep the size of the place in mind when you plan your finances.

If you want to go on a spending budget when you renovate, your best bet is to go where to splurge and save if you want to buy appliances. A lot of sq ft translates into more materials costing.

General Contractor in Delaware

Here’s a breakdown of some of the biggest expenses

-The Cost of Materials (high-end luxury renovations do add up)

-Labor Costs (get plenty of estimates)

-Renovating a Bathroom (specifically a master bathroom remodel)

-Renovating the Kitchen (A kitchen remodel definitely ups the resale price!)

-The Cost of New Windows (average cost can vary)

-Finishing a Basement (adds more square feet to the house)

I’m not trying to scare you, I just want you to be prepared for the enormity of a full home renovation and what average cost you can be expecting.


Permits cost in the range of $400 to $1800. Most governments require permits to get everything done according to building codes when undertaking work. To save time and money, obtain your permits before starting working.

Renovation costs go beyond labor and materials

Keep in mind the extra costs to consider out of standard supplies. It’s also good to check your current insurance to see if the home renovation costs will be covered under your current plan.

Regular homeowners’ coverage will not always cover big projects – especially if the property will remain vacant for some time. Look for insurance covering empty buildings and not a whole house with occupants.

If you renovate your current home, you may have to add an additional homeowner’s insurance policy if the renovation had substantially decreased the value of the house. If your renovation has significantly altered the value of that property.

Other tips to consider

Remodeling can feel a little overwhelming financially because it really takes a lot of time. Make a commitment with a general contractor to lead and guide your home improvement project. Bring up a budget plan of the initial cost and time frame that is expected.

Do your research on what pricing you want and what is the best moment to do the sale.

Online shopping brings the best products on anything from electronics to lighting and you can look at services like Ebates for a little extra cash on purchases.

If you plan to tackle a home renovation of this size, an allowance of a minimum of $10,000 shall be used for unexpected damage (as stated previously).

Get multiple quotes

Price Estimate Free

One of the best ways to find yourself an attractive value is to get quotes from several reliable service providers.

Research the qualifications of candidates through associations such as the National Association of Remodeling Industry. It’s worth paying a bit more upfront for a good reputable contractor.

Read a review of sites like Houzz or FB and always ask for referrals.

Find more about their professional certification and credentials through groups like NPA or the National Kitchen and Bath Association.

Check out their website and review their past work via a gallery or testimonials. A home renovation project is a big project and trying to do it for under $100,000 will take a lot of work. You want to make sure you have the right person helping you.

So please, read reviews and take your time.

Pad your budget especially for older homes

Usually, certain issues will not be known until it is done. The deficiencies of older homes can cause more product and labor costs as well as delays.

Old fashioned buildings often fail and are prone to damage to current codes and efficiency standards and/or they are contaminated as lead paint sprayed in pipes.

These are costs most people aren’t excited about but require in many cases. Working with older plaster and uneven or unlevel surfaces makes some detail hard to produce in a timely manner.

Now that all the disclaimers and ugly mess of the renovation budget are over with, let’s get into the room-by-room remodeling projects.

Bedroom remodel cost

Bedroom Renovation in Delaware

A typical bedroom remodel requires from around $1,000 to $5,000 for flooring and ceilings, ceiling fans, and paint. A complete bedroom renovation cost ranges from $4,000 to $12,000 for new furniture, fixtures, new windows, flooring, and painting.

Granted, these prices can increase greatly depending on supply and demand, what area you live in, and how much of the work you may be doing yourself. For instance, flooring alone in Delaware can actually cost around an average of $10,000 if you are using a high-end level of wood.

Basement remodel

The average cost to install finished basements is about $20,000 to $50,000 or $25 to $50 per square foot. Basement remodel cost varies depending on the open floor plan and layout within areas. The average return on investments is around $1.30 to $2 per dollar spent within this type of renovation project.

While finishing a basement isn’t really necessary and can be put off for later, this type of remodeling project can add significant value to a home. Keep in mind that you will most likely be looking into new HVAC costs that you hadn’t considered before.

The cost of repairing and replacing windows

Window Repair in Delaware

Windows are important both for the overall design of the property and the energy savings of your house. Should it be time to re-order it if leaks cold air throughout the winter or water during heavy rains? Probably.

In a situation where these windows are beyond repair, it should not be impossible to replace them with double-glazed windows. Wood windows are usually popular in historic buildings. They are even more costly than vinyl windows.

If you want light in the room, you should consider opening bi-fold doors or sliding doors. The Bifolding Doors are commonly used in Kitchen Extensions and will significantly change the way you use the room.

So, how much does it cost to replace your windows? If you do it yourself, it will save a significant amount of money. You can expect to pay between $500-$1,000 per window if you’re doing this yourself and using online discounts for parts like Lowes or Home Depot. If you hire a professional, prices could range from about $700 to $2,500 based on the size.

The average cost of installing a new kitchen

Kitchen Remodel in Wilmington Delaware

Sometimes kitchens were hiding places to work, but now they occupy most of the heart of a house. They can often be part of an open floor plan in the kitchen and living room. The décor must complement the dining room as well as relaxation areas.

Careful planning is crucial to the optimum creation of a kitchen that meets your every expectation at a price that you budgeted. Start by getting in contact with your cook/kitchen developer/plancher. At Calahan Bath, we use our own in-house designer for all our kitchen remodel projects.

The average home remodeling cost for a kitchen can range between $10,000 to $50,000 depending on your needs and the materials used in the project. Keep in mind that you may need to replace your flooring if it is very old or damaged and will be particularly difficult to match new cabinets for a seamless fit.

Cost of renovating a bathroom

A bathroom remodel will increase the functionality of your bathroom and increase the property’s worth. Use the existing layout and change the vanity, the floorboards, the bathtubs, the shower, and the toilets yourself for as low as $1,500.

If you hire or opt for premium finishes like marble tiles or hydromassage showers you should be looking at a renovation budget closer to $25k-$60k. The cost primarily depends on the materials and whether to change or continue to maintain existing layouts. If you move into plumbing or opt for marble tiles you will be looking at a significantly higher price.

How much does finishing cost?

Small fixes like painting a floor or painting furniture are inexpensive ways to re-create space and save on unnecessary spending.

Paint is one of the more cost-effective ways to transform a room especially after you paint on your own.

Wallpaper can cost up to $100 per double roll but creates an instant statement that binds together space and sets the tone for décor and furnishings.

Don’t forget everything else counts. Lighting and switching lights, furniture, accessories, and skirting board and handle rails as well as ironing and window dressing all make a good room decor.

If you’re looking into remodeling the stairs in your house, your budget will most likely be (per step) around $80-$100, depending on the amount of work you are doing. Keep in mind that this does not include painting and the number of materials used to create a new look or cover up an old one.

Electrical, Plumbing, and AC

HVAC repair in Delaware

They were some of the largest expenditures but for safety and functionality, they were necessary. Plumbing and electrical are most definitely going to play a factor in the house renovation costs. Especially with bathroom remodeling and kitchen renovation. (A master bath will certainly account for this in your renovation budget).

The AC is another story.

Hopefully, you do not need to replace your current A/C unit, but if you do intend on adding an addition to the house or tackling a basement project, then HVAC will have to be a part of the budget.

Exterior home remodel cost

Exterior renovation (replacing a roof) costs $6,000 up to $20,000. Exterior home remodeling returns an investment of 80% and improves curb appeal. So, while you may not be planning on remodeling the “whole house”, it should at least be a project to consider.

Return on Investment (What did your gut and remodel do to your home’s value?)

On average, your remodel will most likely increase the price of your home by 25% or more as well as increase its sales potential.

You can expect a return of 80% on any exterior renovation project.

Of course, this will vary depending on the condition of the home’s around you, school districts, and other external factors. But overall, your remodeling projects should certainly bear fruit!

Options for financing a complete home renovation

There are many different options to cover the remodeling costs associated with a complete residential renovation of your whole house. Here is a list of the most common ones.

Home equity loan (hard money loan)

A hard money loan of this nature is sometimes tied to your home’s equity. It’s a short-term, higher interest rate loan that can cover the renovation costs until you sell the house or refinance. Home improvement loans would go into effect during a remodeling project as more immediate needs are met before the sale.

A home improvement loan

This is a renovation loan that can be used to renovate your house and increase its value through remodeling projects or fix up jobs you already have in mind like adding an addition to the house.

More Options

Other types of financing include cash-out refinance, home equity conversion mortgage, first-lien mortgages, bridge loans, personal loans, and credit cards.

You will most definitely need to make the investment, but keep in mind that your remodeling project can be worth a lot more in both value and resale!  

Do you need help with financing? Send us a message or give us a call today to find out more about our financing program and we can start your remodeling project as soon as possible!

Final Thoughts

Although renovating your home can be an exciting project, it is also a huge undertaking and one that you should not take lightly. If you are serious about pursuing any of the projects we’ve discussed today, please reach out to us at our office or by phone at (855) 700-2284. We would love to help answer any questions you have as well as provide some insight into what makes for successful renovations in this price range. Let’s get started!