Virginia Beach, VA Remodeling Cost Guide

Did you know?

33% of Virginia Beach homes were built between 1980-1989.1

That's one decade to build one-third of the Virginia Beach housing stock! If you are the proud owner of an aging home, you will certainly benefit from meeting building safety codes and improving the efficiency and appearance of your living space. If you are looking to invest in this area, there are growing opportunities for flip-investor properties. Due to the fact that roughly 80% of homes were built prior to 2000, there is a demand for improved housing. Now your probably wondering: How much does it cost to remodel?

Remodeling Cost Factor # 1: Scope of Work

In general, there are 3 types of remodels.

Think carefully about what you are trying to accomplish and how the scope of work will impact remodeling costs. For example, an upscale remodel in a small bathroom might cost the same as a minor remodel in a larger bathroom. Maybe you need a major kitchen remodel, but are perfectly content with mid-range appliances, cabinetry, and countertops. The cost of your remodel depends greatly on your vision and goals. At RC Industries of Virginia Beach, we understand this great balancing act and can help you make important decisions about what to save or splurge on.

Remodeling Cost Factor # 2: Size of the Space

A popular way to estimate your remodeling budget is by measuring the square feet. Thumbtack.com gives us the following cost ranges for different areas of your Virginia Beach, VA home.2

Kitchen Remodel: $75 - $250 / square foot

Bathroom Remodel: $50 - $250 / square foot

Finished Basement: $25 - $50 / square foot

Room Addition: $50 - $250 / square foot

Questions? Ask a Contractor!

Kitchen Remodels Virginia Beach, VA

Size

Budget

Cost Range

100 sq. ft

$75 - $250 / square foot

$7,500 - $25,000

150 sq. ft

$75 - $250 / square foot

$11,250 - $37,500

Bathroom Remodels Virginia Beach, VA

Size

Budget

Cost Range

50 sq. ft

$50 - $250 / square foot

$2,500 - $12,500

100 sq. ft

$50 - $250 / square foot

$5,000 - $25,000

Finished Basements Virginia Beach, VA

Size

Budget

Cost Range

500 sq. ft

$25 - $50 / square foot

$12,500 - $25,000

700 sq. ft

$25 - $50 / square foot

$17,500 - $35,000

Remodeling Cost Factor # 3: Return on Investment

According to Census Reporter, the median value of owner-occupied housing units in Virginia Beach, VA is $285,400. 3

It is important to know the value of your home so that you may consider your return on investment (ROI). Appraisal experts use the “percentage method” to determine how much you should spend on your remodel.4 Let’s look at the numbers.

Bathroom Remodel:Budget 5%-10% of your home’s value

Kitchen Remodel: Budget 10%-15% of your home’s value

Finished Basement: Budget 10%-15% of your home’s value


Example: Based on Median Home Value in Virginia Beach, VA

Home Value

Remodel

Budget

$285,400

Bathroom

$14,270 - $28,540

$285,400

Kitchen

$28,540 - $42,810

$285,400

Finished Basement

$28,540 - $42,810

Hire a Contractor to Stay on Budget

Your Virginia Beach, VA contractor will call upon honest, affordable and talented carpenters, electricians, plumbers, painters, and other skilled workers to make sure your remodel stays on budget. In addition, your contractor will save you time and money by selecting the right materials, scheduling the best subcontractors, and ensuring quality of work is being performed at each step.

Schedule a Free Consultation

 

 

Sources:

  1. https://www.vbgov.com/government/departments/housing-neighborhood-preservation/Documents/Virginia-Beach-FINAL-Presentation-01192017.pdf
  2. https://www.thumbtack.com/p/remodeling-costs
  3. https://censusreporter.org/profiles/16000US5182000-virginia-beach-va/
  4. https://money.com/home-renovation-budget-kitchen-bathroom-attic-basement/