Cost of a Complete DIY Home Remodel Project
If youíre like me you wonder how much itís going to cost to remodel a home? Thatís not an easy question to answer. Through out my remodeling project I kept track of all my reciepts and expenses. Luckily for you I have organized all my remodeling costs to give you an idea what it might take to get your home remodeling project going. This list is based on a total home remodel of a roughly 1000 sq/ft home with two bedrooms and a single bath. I saved money as much as I could by reusing or restoring items. I saved big time on the kitchen by finding some very nice used cabinets that someone wanted removed from their home as they were installing new cabinets. My home was purchased in a gutted condition. This actually saved some time and a little bit of money by not having to tear out most of the old house walls and flooring etc.. I had practically zero outside labor to pay since I did most all the work myself using the old DIY Home Remodeling method which kept my cost to remodel a home low. It required lots of sweat equity but what the heck , I was trying to make money remodeling a home Ė right?
Some things to think about.. I decided right off that if I needed a tool I was just going to go ahead and purchase it. I found that having the right tools available made my remodeling project go a lot faster and gave me good results. I already owned quite a few basic woodworking tools so not a whole lot had to purchased. With that said, I would definitely recommend the following power tools:
- Circular Saw
- Miter Saw
- Framing Nailer
Of course the list can go on almost indefinitely but those four tools were the ones I used the most. They most certainly seaved me a lot of time getting things accomplished. I think the money invested paid for itself in time saved. Once you have your tools they can always be used for future remodels down the road which would make your next home remodel project cost even cheaper.
My home remodeling cost list includes all tools, materials, services, heat/air and kitchen appliances that were used to get the home into move in condition. These prices were current in 2006 / 2007. Remember, that was right after hurricane Katrina which drove the price of building materials up. Just my luck! The cost to remodel a home today (2013) is about the same as back then. Maybe even cheaper in some cases. Itís crazy but I actually purchased my home back when the real estate market was hot and sold the home when market was low. Totally backwards but I was still able to make money remodeling a home. The potential earnings would have been even greater had I bought in a down market and sold in high market. Thatís the way it goes..
Home Remodeling Cost List
Electric Fixtures $1,229.36
Plumbing Fixtures $977.99
Misc Supplies $1,502.60
Roofing $ 693.68
Heat/Air Conditioning $3,501.98
Interior Misc $871.95
My total cost to remodel a home was $39,011.55.
Consider a home in this condition can sell anywhere from $15K to $100K or better depending on your location. I was able to purchase this home at reasonable price given the market conditions and the locality. A total cost of $39K to completely remodel a home from scratch is roughly a 1/3 of the price you could expect to pay some one else to do the work for you.
Do the math and see how much you can save on your next DIY home remodel project.