I’m an experienced investor who specializes in property rehabilitation, particularly flipping houses. I’d love to provide some insights on your inquiry about the most expensive rooms to renovate and how to save on costs.
When it comes to rehabbing a house, there are six rooms that tend to be the most expensive to renovate, starting from the most costly:
1. Kitchen: The kitchen usually demands the most attention and investment in a renovation. It’s often considered the heart of the home and can greatly impact its appeal. Kitchen renovations can be expensive due to the various materials involved, such as flooring, cabinets, countertops, appliances, backsplash, and lighting.
2. Master Bathroom: Master bathrooms, known for their luxury amenities, can also be quite pricey to renovate. The size and design choices can significantly influence the overall cost. There are essential materials to consider, including tiles, vanities, tubs, and even weatherproofing materials that may not be visible but are necessary.
3. Bathroom: Secondary bathrooms typically rank third in terms of cost, although smaller in size. Renovating an additional bathroom or adding one where it didn’t previously exist can be a substantial expense.
4. Basement: While not always at the top of the list, basement renovations can still be a significant investment. The cost varies greatly depending on the scope of the project, including features like adding a bathroom, meeting local height requirements, or creating a functional living space.
5. Renovating a master bedroom can be costly depending on the desired changes such as flooring, built-in storage, and lighting. To reduce expenses, consider refinishing the existing flooring instead of installing new flooring. DIY projects like painting the walls or installing pre-built storage solutions can also help save money
6. Living room renovations can add up due to flooring, lighting, and furniture costs. To cut expenses, consider shopping for furniture and lighting during sales or at discount stores. Focus on cosmetic changes like painting or adding decorative elements to freshen up the space instead of major structural alterations
7. Revamping your outdoor space can be pricey due to landscaping, patio construction, and outdoor furniture. To save money, consider tackling landscaping yourself or hiring a professional for a consultation instead of a full-service design. Look for budget-friendly patio materials like concrete or gravel, and explore affordable outdoor furniture options such as secondhand or discount stores.
How to save on all these projects:
- Take advantage of bidding opportunities at home improvement stores like Lowes or Home Depot. You don’t need to be a registered pro member or have a business to benefit from these programs. You can receive significant discounts, sometimes up to 30%, on multiple items.
- Consider sourcing materials from wholesale companies or exploring online sources beyond the big-box stores. You might find better deals and more cost-effective options by broadening your search.
- Accurate measurements are crucial. Take into account cuts and waste when estimating material requirements. It’s also beneficial to plan and purchase all necessary materials at once to avoid multiple trips to the store, saving time and money on gas.