Cost Calculator AI
Construction & ContractorsWhole-Home Model

Home Renovation Cost Calculator

Calculate whole-house renovation budgets for cosmetic updates, gut remodels, kitchen/bath updates, and complete MEP replacements.

Calculation Results

Whole-House Renovation Formula

Total Renovation = (Living Area Rate + Kitchens + Bathrooms + MEP Upgrades) × (1 + Contingency %)
  • Cosmetic Remodel: Flooring, interior paint, trim, hardware ($25/sq ft).
  • Moderate Gut: New kitchen, baths, opened walls, recessed lighting ($55/sq ft).
  • Full Gut to Studs: New drywall, insulation, mechanical systems, structural beams ($115/sq ft).

Step-by-Step Worked Example

Scenario: Moderate gut remodel of a 2,000 sq ft home with 1 kitchen, 2 baths, and full HVAC/panel upgrades

Calculation Steps:

  1. Living Area Finishes = 2,000 sq ft × $55 = $110,000
  2. Kitchen Remodel = 1 × $42,000 = $42,000
  3. Bathroom Remodels = 2 × $15,000 = $30,000
  4. MEP Electrical/HVAC/Plumbing = 2,000 sq ft × $16.50 = $33,000
  5. Direct Subtotal = $110,000 + $42,000 + $30,000 + $33,000 = $215,000
  6. Contingency Buffer (15%) = $215,000 × 0.15 = $32,250
  7. Total Renovation Cost = $215,000 + $32,250 = $247,250
Result: The total estimated renovation budget is $247,250 ($123.63/sq ft) including a $32,250 safety buffer.

How to Use This Calculator

  1. 1Enter total finished home square footage.
  2. 2Select renovation scope from surface cosmetic to down-to-the-studs gut.
  3. 3Include kitchen and bathroom counts.

Assumptions & Limitations

  • Estimates are based on standard national averages and current prevailing construction materials and contractor rates.
  • Actual trade bids may fluctuate according to local building code requirements, permit fees, and site topography.
  • Always obtain multiple written bids from licensed, bonded, and insured contractors before commencing work.

Frequently Asked Questions

Is it cheaper to renovate an old home or tear down and rebuild?

If renovation costs exceed 70% to 75% of the cost of a new ground-up build (especially with failing foundations or bad floor plans), tearing down and building new is often more cost-effective.

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