Expert Reviewed by: David Chen, Real Estate & Construction Consultant
Estimating your home renovation costs can be overwhelming. Use our professional Remodel Calculator to get a localized estimate of your project expenses, including labor, materials, and contingency buffers to ensure your project stays on budget.
Remodel Calculator
Remodel Calculator Formula:
Total Cost = (Area × Cost per SqFt) × (1 + Contingency Rate)
Formula Source: HomeAdvisor Cost Guide & Houzz Renovation Budgeting
Variables:
- Project Area: The total square footage of the room or area being renovated.
- Cost per Square Foot: The average cost ($) spent per unit of area (ranges from $100 for basic to $300+ for luxury).
- Contingency Buffer: A percentage of the budget (usually 10-20%) reserved for unexpected repairs or price increases.
What is Remodel Calculator?
A Remodel Calculator is a specialized financial tool designed to help homeowners and contractors estimate the total investment required for a property renovation. It accounts for the physical dimensions of the space and the quality of finishes desired.
Beyond simple math, this tool integrates industry standards for labor-to-material ratios, allowing you to visualize how your budget will be distributed between contractors and hardware supplies before you even start the demolition phase.
How to Calculate Remodel Calculator (Example):
- Determine the square footage of the room (e.g., a 200 sq. ft. kitchen).
- Select your finish level (e.g., Mid-range at $150 per sq. ft.).
- Multiply Area by Cost: 200 × 150 = $30,000.
- Add a 15% contingency: $30,000 × 1.15 = $34,500 Total.
Related Calculators:
- Kitchen Remodel Estimator
- Bathroom Tile Calculator
- Home Equity Loan Calculator
- ROI on Home Improvements
Frequently Asked Questions (FAQ):
What is a good cost per square foot for a remodel? It varies by location, but mid-range projects typically cost between $100 and $250 per square foot.
Why is contingency so important? Hidden issues like mold, outdated wiring, or structural rot often appear only after work begins. 10-20% is standard.
How much of a remodel budget goes to labor? On average, labor accounts for 35% to 45% of the total project cost.
Can I use this for DIY projects? Yes, but set the labor cost to zero or lower the cost per square foot significantly to reflect material-only expenses.