Whether you bought a fixer-upper or you are starting to notice that your old home could use some updating, you are probably wondering how much does it cost to renovate a house? Knowing the numbers ahead of time can help plan your budget and decide what items you have to have and what is not so important.
The Cost to Renovate a House
The exact cost of revitalizing your home will depend on its size, where you live, and how much of a face-lift it needs. The general costs 
associated with a home remodel look like this:
- Low ($25,000 – $45,000): Interior and exterior painting, small repairs (like refinishing cabinets) and new landscaping.
- Medium ($46,000- $75,000): The low-cost upgrades above, plus a total kitchen renovation and minor bathroom upgrade.
- High ($76,000 and up): Low – and Medium-cost upgrades, plus fixing any foundation issues, roof and sewer line problems.
The Largest Renovation Expenses
The big-ticket items, unsurprisingly are the kitchen and bathroom. It usually the appliances and cabinets in those rooms that eat up a big 
portion of the budget. Here is what you can expect to pay for an average-sized house (about 2,500 sd ft).
- Kitchen: Average costs about $20,500. If your kitchen only needs minor upgrades, renovations should start at around $10,000. A full gut can reach more than $50,000, depending on the quality of materials and appliances installed.
- Bathroom: Average cost around $9,000 and tops out at $20,000. Now you could spend a lot more by adding spalike touches.
- New Roof: The cost of protecting all your upgrades from the elements will run around $10-20,000.
- New Floors: Installing new wood floors will cost about $4,400, while laminate will set you back about $2,800.
- Electrical Updates: If you are replacing an old panel and a home’s worth of outdated wiring, expect to spend $3,000 to $5,000.
- Replacing Siding: Putting new exterior siding on your home runs an average of $14,000.
- Replacing Windows: If you plan on replacing 10 windows and frames to save on your energy bill, the cost will range between $8,500 (vinyl) and $20,000 (wood).
- The Contractor: Unless you plan to oversee the renovation yourself, a budget should include the cost of a general contractor. They usually charge 10%-15% of the project’s total budget. So for a $50,000 renovation, expect to pay a contractor $5,000- $7,000.
Return On Investment
The magic words that make all this work, time and money worth it. A typical kitchen remodel typically yields an 83.1% return on investment. That means for every $1,000 you spend on those cabinets and countertops, you’ll get back $831. Meanwhile, the bathroom renovation boasts an ROI of 65.7% and if you go for those pricey wood-framed windows, you will enjoy a high ROI of 72.1%