When considering a custom home or remodel, the first question most people ask us is, "What will it cost?" We've put together a list of average costs for a variety of remodeling projects and new construction. As with every rule of thumb, there are always exceptions. But we hope these estimates will help you develop a realistic budget for project. We want transparency with our clients. If we don’t make money, we don’t stay in business and you won’t have a contractor. So we have no problem sharing what we need to make on a project.
Note that kitchen and bathroom additions tend to entail substantial modifications of existing spaces. This usually skews the square foot costs. The calculation of square footage will always include the full addition plus a good deal of interior square footage that is affected by the new addition. These square foot prices are illustrative, but are by no means absolute. Square foot costs vary substantially from project to project, depending on a universe of variables. Size, configuration, scope, fixtures, finishes, structural work, foundation type, site issues, updating of existing systems and roofing are only some of the issues which can impact cost one way or the other. That said, we recognize the need to establish a budget, and we have included the below numbers in the hope that they will assist with your planning and overall understanding of the remodeling and new construction process.
General Construction Labor Rate - $75 Per Hour
Addition - (family room type – no plumbing, minimal structural work) - $200 to $400 /sq. ft.
Addition - (multi-story, some structural, mid grade finishes, systems work, good deal related work in existing structure.) - $225 to $425 /sq. ft.
Addition - (multi-story, substantial tie into existing structure, new systems, complete kitchen/bath renovations, higher end finishes.) - $250 and up
New house - (On your lot or tear down.) - $150 to $350/ sq. ft.
Kitchen Upgrade - $30,000 to $80,000
Kitchen Remodel - $50,000 to $120,000
Cost Plus Project Fee/Mark up - 15-25% builder fee (depends on size and scope of project)
Minor Bathroom Update - $5000 to $15,000
Bathroom (upgrade to moderate) - $25,000 to $40,000
Bathroom (high end remodel) - $45,000 to $100,000
Finished Basement/Attic - $100 to $200 /sq. ft.
Average Design Fees: - Varies by Architect and project complexity but a general rule is 5-12% of construction costs, plus reimbursables and engineering if required at $125 per hour
Initial Consultation - Initial in house design consultation is free if you own or have a contract on the property. If you are in process of buying a property, fee for consultation is a minimum of $250.