Remodeling is no easy task, whether you’ve moved into a new home or decided it’s time to update your old living room. It takes up a lot of time and, more importantly, money. Before getting started, it’s crucial to determine how much money it’ll cost you. Fortunately, we’re here to help by going over how expensive it is to remodel your living room on average and some aspects you should consider when doing so.
The Overall Cost
Let’s get right into the pricing range. This will vary drastically depending on how extensive your planned changes are, but the average living room remodel costs around 8,000 dollars. It’s possible to keep your expenses to about 2,000 dollars in some cases, but that’s only for minor remodels. If you want to go all-out, you could be looking at potentially 20,000 dollars in total cost.
Potential Cost Breakdown
Regardless of what kind of remodeling you want to do, many aspects go into that final price tag. While some will be more necessary than others, they’re all things you need to consider when looking into how expensive it’ll be to remodel your living room.
Labor and Equipment
Whether you decide to tackle this remodel on your own or hire a professional, you’ll need to consider the labor and equipment costs of the project. Labor costs will vary depending on how they charge you. Some contractors charge a flat fee, while others do an hourly rate. Typically, flat rates will be around 4,000 dollars or so. Hourly can be a few hundred a day, but that price will go up if you have more people working on your space.
If you’d rather do the remodel yourself, you’ll need to buy the necessary equipment. This is one plus to hiring a professional, but if you already have some of the know-how and tools, a self-project can save you a lot of cash.
If you plan on extending the size of your living room as a part of this remodel, you’ll need to take the cost of building permits into account. These will vary depending on the extent of the expansion, but on average, you’ll have to spend just over 1,000 dollars for this permit.
Not everyone replaces their seating and tables during a remodel, but if your furniture has shown some signs of needing replacing, now might be a good time to do so. High-end furniture could end up costing you an additional 2,000 dollars or so. That means you might want to look on the cheaper end if your remodels have become too expensive. Luckily, there are plenty of affordable furniture options on the market.
Finally, you’ll need to take future maintenance costs into consideration. Each decision you make for your new walls, floors, and furniture will come with additional costs down the road if you want to keep them in good condition. While these things won’t affect your current budget, they could hurt you in the long run, so now is the best time to figure them all out.
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