What You Should Expect to Pay for an Apartment Renovation
September 26, 2013
Renovations in New York City apartments come in a wide range of styles, sizes, and intensity. Though some may want to renovate only one room, others may want to renovate an entire apartment. Regardless of what your plans are, there are some norms and figures that you should be aware of. Before you get too deep into the idea of planning your New York City renovation, take a look at the numbers below. Having an idea of the general costs you should be prepared to absorb during your renovation will very quickly clarify for you whether or not now is the best time to be taking on a renovation.
Before you make any decisions on the pricing below, keep the following tips in mind:
|•||Be aware that a deal is not always a deal. Money pays for expertise and quality. Don’t go with the cheapest contractor without being aware that he’s probably the cheapest for a reason.|
|•||The majority of homeowners who complete a renovation and have it come out to their liking do not dwell on the money spent; rather, they enjoy their new space and their enhanced quality of life.|
|•||Do your due diligence and research any professional that you’re considering hiring in the remodeling process. Ask for references, take multiple meetings, and make sure that all licenses are valid and proper. The biggest roadblock in a renovation, other than money, is if the professionals that have been hired to do it are less than professional.|
|•||Always understand the contracts you’re signing with the professionals you hire. Know what you can expect from the work that you are hiring them to do.|
|•||Respect is key in any professional relationship. Respect the professionals who are working from you, and expect respect from them as well.|
Typical Costs for a New York City Renovation
Co-Op or Condo: $150-$350 per square foot is the average, prices can go up from there.
Town House, Brownstone: $150-$350 per square foot is the average, prices can go up from there.
Additions – Residential
Room Addition – Single Room, Basic in a Private Home: $175-$250 per square foot, prices can go up from there.
Multi-Room Addition in a Private House: $225-$325 per square foot, prices can go up from there.
Kitchen Upgrade: $25,000 prices can go up from there. This figure reflects a small kitchen upgrade where the layout is not being altered.
Minor Kitchen Remodel: $45,000 prices can go up from there.
Major Kitchen Remodel: $75,000 prices can go up from there.
Bathroom Upgrade, Simple – Private Home: $15,000, prices go up from there.
Complete Bathroom Remodel – Private Home: $25,000, prices go up from there.
Complete Bathroom Remodel (High End) – Private Home: Range between $40,000 and $60,000 — prices go up from there.
Master Bathroom Remodel – Private Home: Range between $60,000 and $80,000 — prices go up from there.
Finished Attic in a Private Home: $30,000 – $50,000, prices go up from there.
Deck: Average $45 per square foot, prices go up from there.