With data from over 120,000 registered users of Houzz, the 2016 Houzz & Home survey gives the important remodeling tips like the average cost of a remodel and which rooms they are remodeling. Houzz staffer Erin Carlyle warns those interested in remodeling to be prepared as renovation costs can be high and 31% of renovations exceed their budget.
The average cost for a renovation is $59,800 but this number may vary as multiple types of projects are factored into this average:
That said, the averages do provide some interesting guideposts. Notably, recent home buyers spent twice as much as people getting ready to sell. “Recent home buyers tend to do more, spend more and are more likely to hire professionals to help with their renovation project than other homeowners,” says Nino Sitchinava, principal economist at Houzz.