work. This is why estimates often vary between contractors and it is always a good practice to get two or three estimates from trusted and pro- fessional renovators for your project. It is import- ant to use check references, confirm insurance and use your instincts; if a price is too good to be true, it usually is and if a contractor can start at short notice, during this busy time, this could be a red flag. I will always ask a client for their budget value as this allows me to make suggestions on how to stay within their means. Having a budget is important, but sometimes a client’s budget is simply unrealistic and the scope of work may need to be altered or more money must be sourced to achieve their desired renovation outcome. So, let’s talk about project budgets for the most common home renovations. BATHROOMS A bathroom renovation can vary from the basic demolition and installation of new fixtures, acrylic tub surrounds, and vinyl flooring with a budget from $15,000 to $18,000 to more complex bathroom renovations with the demolition to the studs, tile tub surrounds and floors will cost approximately $20,000 to $24,000. Maybe you are looking for a larger more detailed ensuite with a custom shower, vessel tubs and heated floors that will cost approximately $26,000 to $34,000 plus. A bathroom renovation is possibly the most expensive room per square foot (sq ft) in your home. Bathrooms are the most popular renova- tion because they add immediate beauty and function to your home, plus the moist environ- ment and daily use by multiple people cause bathrooms to simply wear out over time. KITCHENS The kitchen is often referred to as the “heart of the home” and for good reason. It is where we gather to cook, eat, do homework, and always host a good “kitchen party” or two with friends and family. Very much like the bathroom, the
approximately $25,000 to $35,000. However, a more extensive kitchen renovation could encompass, removing walls (structural or non-structural), installations of new tile or hardwood floors, solid surface countertops, built-in appli - ances, under-cabinet lighting, and larger more elaborate cabinets can double or triple the basic kitchen renovation requiring a budget from $50,000 to $100,000 plus. The kitchen renovation is often the greatest renovation investment a homeowner can make since the room is so critical to the daily function of the home.
size and scope of a kitchen renovation can vary greatly depending on what you are looking for. A basic kitchen renovation would include removing and installing new cabinets along with new vinyl flooring and laminate countertops. Your basic out-and-in type of kitchen renovation will cost
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JULY/AUGUST 2022 • SPOTLIGHT ON BUSINESS MAGAZINE
SPOTLIGHT ON BUSINESS MAGAZINE • JULY/AUGUST 2022
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