If you've decided to renovate your home in Central New Jersey or are still in the consideration stage, you likely want to know how you can determine the cost. Below, you'll find a guide to help you choose and understand how to budget for a renovation project, if a home is worth renovating, and the factors that impact that decision.
How do you budget for a renovation project? We have a series of thoughts to consider before building your budget. The answers can help guide your decisions. Here are 3 questions you should ask yourself before you budget for a renovation project.
Every renovation project starts with a vision. Are you dreaming of a luxurious new kitchen, a fully remodeled 4-car garage, or a total transformation with a complete gut renovation? The scope of your project will play a significant role in determining your budget. Our process starts out by examining what you want in your project.
Accessory Dwelling Units (ADUs) are a popular way to add value and extra living space to your property. Kitchen renovations often focus on open layouts, energy-efficient appliances, and premium finishes, while bathroom remodels prioritize spa-like features such as walk-in showers and heated floors. Garage renovations can transform unused spaces into home offices, gyms, or whatever your heart desires.
Partnering with experienced contractors like GTG Builders means these upgrades are completed precisely and meet your vision. Knowing your goals will help you prioritize spending and guide your conversations with house renovators in your area. Our portfolio can show you a glimpse of our work quality and what's possible for your home.
We love old houses, but the age of your home is another significant factor influencing home renovation costs. Older homes in New Jersey often come with hidden challenges like outdated wiring, plumbing issues, or structural repairs. These additional tasks can increase the budget, especially if you're planning a gut rehab vs new construction.
Renovating an older property allows you to preserve its charm and character while upgrading essential systems to meet modern standards. However, working with professionals experienced in full gut renovations gives you the best chance of a clear budget earlier in the process.
Different rooms have different renovation needs. Kitchens and bathrooms, for example, tend to be more expensive than bedrooms or bonus rooms due to the complexity of plumbing, electrical work, and high-quality finishes.
The cost of a kitchen remodel in NJ can vary depending on whether you're making small updates or completely reconfiguring the layout. Bathrooms may involve tiling, plumbing fixtures, and waterproofing, which can drive up the budget.
Costs can increase significantly for a whole-home remodel if multiple rooms are addressed, flooring is replaced, and HVAC systems are updated. Larger hobby rooms, garages, or full-gut remodels will have an assortment of costs and are also larger projects.
When you're trying to figure out how much it costs to remodel a house in NJ, consider the scale of your project and prioritize the areas that will most impact your daily life and home value.
A gut renovation is one of the most extensive types of remodeling projects, involving removing everything down to the studs. This allows you to rebuild the interior with a fresh layout, updated systems, and modern finishes. It’s a popular choice for older homes that require significant updates or for homeowners looking to customize their space completely.
The cost of a complete gut renovation depends on several factors:
A complete gut renovation allows you to redefine your living space completely but is often more expensive.
Neither custom homes nor renovations should be called inexpensive. However, the financial investments are different. Typically, a renovation can cost less than a custom home. You should also base your decision on whether you like your current location enough to invest in a renovation or would prefer to start fresh. You can use the same design trends for inspiration in either sort of project.
Before investing in a full house remodel or a complete gut renovation, discuss these factors with your remodeler. At GTG Builders, we're happy to discuss these factors with you and advise you on the best course of action.
Renovation costs can quickly escalate if the foundation or major systems (HVAC, plumbing, electrical) are in poor condition. Your team should be able to identify these issues as they arise and explain where your budget is going.
A home in a desirable neighborhood may justify the renovation investment, especially if moving to a different area with the same amenities would be cost-prohibitive.
Land is also difficult to find in New Jersey right now. If you already own your property, you're a step ahead. Renovating your home is often easier than finding the right piece of land and then building a custom home.
Will the improvements significantly increase your home’s resale value?
Renovating an old house allows you to retain its beloved features while customizing it to your needs. However, purchasing a new home may be easier if the required updates are too extensive.
If you want to stay on budget and avoid surprises, follow the tips listed below.
If you want to renovate and expand your kitchen but don't need to change the rest of your home, there's no need for a whole-house renovation. By the same measure, if you need to refresh your home completely, plan for that from the start.
Older homes, in particular, can come with hidden challenges, so part of your renovation costs will likely be issues that were loosely anticipated but not for certain at the start of your project.
This is where expertise shines. When you hire house renovators or whole home remodelers familiar with Central NJ, you can set your project up for success because you know it lives in capable hands. If you're looking for land for a new project, we can assist you. The team at GTG Builders knows Central New Jersey like the backs of our own hands.
Rushed projects can lead to costly mistakes, so work with your team to plan your schedule accordingly. An experienced remodeler can project what type of issues may arise.
Renovating your home is a big decision and investment, but doing it with the right team means you can upgrade your home and lifestyle while increasing your property value. When you work with GTG Builders, you work with a team of professionals focused on helping you invest your money in what matters to you. When you're ready to begin a renovation project, we will be ready to partner with you.
Contact us today to see if we're the builder for your renovation project.