On the exciting journey of home renovation, financial planning is an essential step in making sure any project fits within your budget. In this article, we’ll explore the key factors that influence the costs of an apartment or home renovation and provide you with practical step-by-step advice on how to effectively calculate and manage your apartment renovation budget with the following steps.

Define the scope of the reform

The first factor to consider is the size of the house and the magnitude of the reform. Renovations that involve structural changes, such as redistributing spaces, building new rooms, or modifying an additional floor, tend to be more expensive than simpler renovations. If the amount to invest is limited, consider dividing the reform into phases. This will allow you to tackle different areas of the house at different times, which can help you spread costs better.

Types of reform and their associated costs

The type of renovation you plan to do will also affect the cost. Bathroom and kitchen renovations tend to be more expensive due to the specialized fixtures and equipment involved, such as plumbing, appliances, and finishes. Interior renovations, such as paint, flooring, and lighting upgrades, can also vary in cost.

Choice of materials and finishes

The choice of materials and finishes plays an important role in the total cost. Opting for high-end materials and custom finishes will increase costs. So choosing more affordable materials can help keep your budget in check. But on the other hand you can evaluate what the return on investment (ROI) is. If you have the future sale of the property in mind, research which improvements have a good return on investment. Prioritize those items that can increase the resale value of your home.

Labour, design and professional construction advice

Labor costs may vary based on location, contractor availability and construction professionals. It’s important to get multiple quotes from different contractors to get an accurate idea of ​​labor costs. On the other hand the costs of the reform can vary significantly according to the geographical location. Metropolitan areas tend to have higher costs compared to rural areas. If you plan to work with an architect or interior designer, these services will also add cost to the project. However, having professionals can guarantee a high-quality end result.

Contingencies and contingencies

It is always advisable to reserve an additional margin in the budget for possible unforeseen events or problems that may arise during the renovation, such as hidden structural problems or changes in the original plans.

Permissions and licences

Depending on the extent of the reform, you may need to obtain municipal permits and licenses. Renovating older homes can present unique challenges, as older structures are often subject to specific regulations to preserve their historic and architectural value. Managing permits effectively not only ensures the legality of the reform, but can also have a direct impact on the budget and schedule of the project. From blueprint approval to authorization for structural changes, each step in the permitting process deserves careful attention, so these costs must be factored into your budget.

Maintain control over expenses

Identify the essential features and enhancements you need and set priorities. This will help you avoid unnecessary spending on items that are not critical to your project. For example, you can constantly monitor, keep a detailed record of all expenses throughout the project. This will allow you to quickly identify if costs are drifting and take corrective action.

Now, a general idea of ​​how much can it cost to reform a house?

An approximate range of costs for reforms in Spain, based on the most common categories of projects are:

Bathroom reform

It can vary from about 1,000 to 4,000 euros or more, depending on the magnitude of the reform, the quality of the toilets and tiles, and other factors.

Kitchen reform

Costs can range from 3,000 to 10,000 euros or more, depending on the number of structural changes, the appliances and the quality of the finishes.

Interior reform (painting, floors, lighting, etc.)

At this point, reforming a house with little money, although the costs can vary widely depending on the amount of work to be done, but an approximate range could be from 1,000 to 5,000 euros or more.

Comprehensive reform of the house

For a complete home renovation, including structural changes, high-quality materials, and custom finishes, costs can be in the range of $15,000 to $50,000 or more, depending on the size and scope of the renovation.

For example, how much does it cost to reform a 70m2 house?

A basic reform that includes updates such as painting, reflooring, updating electrical and plumbing installations could range between 8,000 and 15,000 euros or more, and a more comprehensive complete reform that involves significant structural changes, the complete renovation of bathrooms and kitchen with finishes of high quality, and the upgrade of all the systems could be in the range of more than 30,000 as we have mentioned, depending on the location and the materials chosen.

With a general estimate of costs of this type of project, you will be ready to turn your vision of reforming a flat into reality. By following these steps and making informed decisions, you will achieve a successful transformation in your apartment.