Here’s how much remodeling a home costs the average American

It’s important to gain a general understanding of what goes into a home remodel, why you’re choosing to do it, and what you can realistically afford to spend

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According to our study, most people spend $20K or less on their home remodels.

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Big Spenders

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Budgeters

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There are many methods you can use to estimate renovations costs, including per-square-foot calculations, cost estimators, and contractor quotes.

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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Here’s how much remodeling a home costs the average American

It’s important to gain a general understanding of what goes into a home remodel, why you’re choosing to do it, and what you can realistically afford to spend

According to our study, most people spend $20K or less on their home remodels.

Home Renovation Costs: General Findings

Big Spenders

Some people ended up in over their heads — in fact, 12% of our respondents went $50K or more over budget, and of those, 40% went $100K or more over budget.

Budgeters

The budgeters were those with remodel budgets of $50K or less, and they made up 92% of our respondents.

There are many methods you can use to estimate renovations costs, including per-square-foot calculations, cost estimators, and contractor quotes.

Estimation Methods and Tools

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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