How Much Does a Home Renovation Cost - Home Remodel Cost Saving Tips

hey everyone today i want to share with you how much a home remodel like this one cost this is a flip that we just completed it's a victorian style home and it's a hundred years old we did a lot of work on the exterior and interior and today i'm going to break it all down to show you how much everything cost make sure you watch until the end of this video because i'm going to share some tips on how to save on cost on a home renovation if you are curious about the before and after of this beautiful victorian renovation we did check out this video here if this is your first time watching my videos my name is elisa and i'm a house flipper and real estate investor in the san francisco bay area i've been flipping houses for four years now and i've done over two dozen flips i want to use this channel to share my knowledge on home remodeling so subscribe to the channel if you're interested [Music] let's start from the exterior work when i purchased the home the front yard had a lot of iv and bushes and the big tree was also over growing so we had to trim the tree back and remove the iv and the bushes and they cost fifteen hundred dollars we also had to remove a lot of dirt from the front yard to level the ground in order to put in salt and new plants and that cost thirty five hundred dollars the exterior siding of the home wasn't taken care of for quite a while so we had to do a lot of repairs and it cost about three thousand dollars the exterior painting of the home was kind of expensive it cost sixty five hundred dollars usually on my flips the exterior painting cost four to five thousand but this time because victorian homes has more ornate decorations so the painting is more expensive too luckily the roof isn't very old so we didn't have to replace it but it was quite dirty so we had to power wash it and it cost about 500 and when the previous owner left she left a lot of trash it was all over the house in the attic in the crowd space in the garage and also the backyard so it was very expensive to remove all of the trash and we had a few dumpsters it cost eight thousand dollars to remove everything on the interior of the home we had to do a lot of drywall work because there was wallpaper in a few rooms and plastered ceiling in some areas so we had to refinish the wall texture and it was quite expensive about 7 500. before i share more cost on this renovation smash the like button below and subscribe to the channel so you will see more videos on home remodeling like this i mentioned that in this home we were able to keep a lot of the original crown molding baseboards and trim so we saved down some cost in that regards but still in some rooms the trim work was not consistent so we had to do some repairs and that was about three thousand whenever we do a remodel we always upgrade the electrical and plumbing up to code a lot of the older homes that purchase it can be expensive to upgrade electrical and plumbing because they haven't been taken care of for a very long time and on this home the electrical work cost about seven thousand dollars because we added a lot of recessed lights and we put in a lot of light fixtures too and the plumbing cost about four thousand dollars to redo the plumbing of this whole house we also had to repair a lot of the framing work because the previous owner is a handyman and he did some illegal work here that we had to correct and it cost 2500. the previous owner also did some illegal work in the crawl space that we had to correct and it cost 3 500. the home originally had a floor heater which is kind of old school and it's not very efficient so we replaced it with a new furnace that cost almost 6 000 the home has original hardwood floors in many rooms and we only had to add new hardwood floors in the kitchen and the entryway and then refinish the existing hardwood floors and they cost about 7 500 total painting the interior of this home was kind of expensive again because of the ornate trim and decorations it was seventy five hundred dollars total and usually on my flips it cost about four to five thousand we put in about 15 new recess lights and we also replaced many light fixtures and with the new smoke detectors outlets and hardware the total cost was about two thousand dollars usually our home remodel kitchen and bathroom cost the most and on this kitchen remodel it was also on the expensive side because we did a lot of layout changes we removed a wall that was between the kitchen and the dining room and we also removed a doorway to the side yard and access to the basement to make the kitchen bigger but one thing we did that saved on the cost on the kitchen remodel was we kept all the appliances and plumbing fixtures where they were with the layout changes and added cabinets and countertops the kitchen renovation cost about thirty thousand dollars and if you want to see a breakdown on all the kitchen costs check out this video usually on my flips i spend about 25 000 on a kitchen remodel but if the kitchen is bigger and if we do more layout changes then the costs go up we did a lot of work on the bathrooms of this house because there was only one guest bathroom before and we were able to use the space in the guest bathroom and the walk-in closet of the master bedroom to create two completely new bathrooms we had to remove some long load bearing walls in the old guest bathroom and add a new wall to divide the new space between the guest bathroom and the master bathroom so the cost was on the higher end we also had to relocate all the plumbing fixtures in the guest bathroom and add new plumbing fixtures in the master bathroom that we created and the cost of two bathrooms was about thirty thousand dollars total if you want to see a breakdown on the cost of the bathrooms check out this video usually on my flips bathroom cost about ten thousand dollars each so this time it's the cost is a lot higher because of all the changes and the new bathroom that we added the garage was in very poor condition because the siding was damaged and the roof had a lot of overgrown plants that we had to do a lot of repairs and there was also an illegal bathroom that would the previous owner was trying to build we had to demo it completely and we also added a new garage door and repaired the interior of the garage so all the all of that work cost about eight thousand dollars the fence in the backyard was falling apart and we had to do a lot of repairs and also put in new fence and that cost about 1500. in the backyard we installed new pavers to create a nice patio and we put in new salt and plants to make the space more beautiful and the total cost was about four thousand so overall this renovation cost a hundred forty thousand dollars total which is on the higher end of all of my flips mainly because this home is a hundred years old and it has a lot of deferred maintenance and also we added a new bathroom which added to the cost some viewers tell me that when they get contractor bids on their own home remodels the bids are a lot higher than the costs they see on my remodels that's actually pretty common because when contractors give bids to homeowners they take into account a few factors homeowners tend to pay more attention to details and they make more changes throughout the process and also they tend to use higher end materials that take longer to install so it's not uncommon for contractors to give bids to homeowners that are 15 to 30 percent higher than the bids that they give an investor that being said there are a few different ways for you to save on the renovation cost first of all if you do many tasks at the same time the cost of each task is going to be cheaper than if you were to do separate tasks at different times for example if you were to do a full-on home remodel at once the cost for adding new lights or trim work is going to be cheaper than if you were to do the lights and trim work separately secondly kitchen and bathroom usually cost the most to remodel but within the kitchen and bathroom remodel if you keep the plumbing fixtures and appliances where they are originally without relocating them then you can save a lot on the cost the third tip is before you start on a renovation come up with a plan first so you want to know exactly what layout changes you want to do and what finishing materials you are going to choose and what appliances you are going to order so when you go get a bid from a contractor you tell them exactly what you want so the contractor will see that you already have a plan and it's unlikely for you to go back and forth and waste their time so they can reduce the cost on a lot of the items if you want to learn about how to make a plan on a home remodel check out this video if you enjoyed this episode smash the like button below and subscribe to the channel so you'll see more renovation tips thank you so much for watching see you next time [Music] you

Channel: Transform Real Estate

Views: 48,673

Keywords: Home remodel cost, home remodel budget, what does a home remodel cost, how much does it cost to remodel a home, cost of home remodel, home renovation cost, how much do home renovations cost, how much does a home renovation cost, how much does a renovation cost, how much does a remodel cost, home remodel cost saving tips, home remodel tips, remodel cost saving tips, save money on home renovation, save money on home remodel, how to save money on a remodel, home remodeling

Id: -Q1ii2kjsOA

Length: 11min 27sec (687 seconds)

Published: Sun May 23 2021