Home Renovation Budget
Plan a renovation budget by room and quality tier with contractor markup and contingency.
Written by Golam Rabbani, Founder & Lead Engineer
How to use this home renovation budget
- Pick imperial (sq ft) or metric (m²) units and your currency.
- Add a row for every room you’re renovating; pick the room type, enter area, and pick a quality tier.
- Adjust the contractor markup (% on top of materials+labor) and contingency (%).
- Press Calculate to see total budget, per-room costs, and contingency breakdown.
- Use Copy to share the figure with your contractor or Reset to start over.
About this home renovation budget
The home renovation budget calculator turns a room-by-room plan into a total ballpark figure using 2024 US Remodeling Magazine "Cost vs. Value" averages. Each room type has three quality tiers — basic, mid-range, and high-end — with cost-per-square-foot figures that already include materials and trade labor. The tool sums the per-room costs, adds a contractor markup for general-contractor overhead and profit, and finally a contingency to absorb scope changes.
For example, a kitchen at 200 sq ft mid-range ($200/sq ft) and a bathroom at 80 sq ft mid-range ($250/sq ft): rooms = 200 × 200 + 80 × 250 = 40,000 + 20,000 = $60,000. Contractor markup at 40% = $24,000 → subtotal $84,000. Contingency at 15% = $12,600. Total ≈ $96,600.
Numbers are US averages — local labor markets and material availability can move them ±30%. Always get at least three line-item bids from licensed contractors before finalizing your budget. The "contractor markup" in this tool covers GC margin and project management; the per-tier cost already covers in-room trade labor.
FAQ
- What's the difference between basic, mid-range, and high-end tiers?
- Basic uses builder-grade fixtures (laminate counters, stock cabinets, vinyl flooring). Mid-range uses ENERGY STAR appliances, solid wood cabinets, quartz counters. High-end means custom cabinets, stone counters, designer fixtures, and bespoke layouts.
- Why is the contractor markup separate from per-tier cost?
- Per-tier costs already include in-trade labor (the plumber, the tile setter). The contractor markup covers the general contractor managing all the trades — typically 15–40% in residential.
- Should I keep contingency or remove it?
- Always keep contingency. Renovations uncover surprises (rotted joists, outdated wiring, asbestos). 10% is the bare minimum for cosmetic work; 20% is realistic for older homes.
- Why isn't my kitchen number close to the calculator's output?
- The default figures are national averages. High-cost metros (SF, NYC, Boston) are often 30–50% higher; rural areas can be 20% lower. Get local bids before committing.
- Does this estimate include permits and design fees?
- No. Add 5–15% on top for architectural drawings, structural engineering, and permits if your work needs them. Many municipalities require permits for plumbing, electrical, and load-bearing structural changes.