If your home is starting to get cramped with your growing family or your living spaces are starting to look outdated, it may be time to remodel your New York City home. Choosing renovation is usually more cost-effective than moving. It can also boost your property’s value if you’re thinking of selling it in the future.
Here are general per-square-foot prices in NYC to help guide you in planning your project’s budget.
Renovation Costs Per Square Foot
A full, high-end remodel can cost between $250 to $450 per square foot, including labor and materials. However, this cost can vary depending on which room you’re remodeling. For instance, dry spaces like a bedroom or living room can cost around $30 to $50 per square foot. Meanwhile, wet spaces like the kitchen and bathroom have an estimated cost of $300 to $400 per square foot.
You also need to consider the necessary permits and paperwork for your apartment renovation. Permits for projects that involve plumbing work can cost up to $5000. Electrical permits cost around $900 and an asbestos inspection can cost you an extra $500 to $1000. You may need to pay between $25,000 to $80,000 if you want to add central air conditioning.
Tips for Maximizing Your Budget
Invest in Your Plumbing and Electrical System – While these components aren’t visible, you must still invest in a reputable contractor for their installation. Electrical and plumbing can be costly to repair. Choosing quality products and an experienced contractor will save you money in the long run.
Pay Attention to Your Kitchen and Bathrooms – These rooms can affect your home’s resale value. It would pay to splurge a little in the heart of your home.
Look for a Contractor In Advance – Hiring professionals early can help you avoid possible insurance issues. You’ll have more time to formulate a clear plan, which helps avoid delays and changes in the middle of the project.
Turn to Knockout Renovation for your apartment remodeling project. Call us at (212) 599-5060 or fill out our contact form to request a free consultation. We serve clients in Manhattan and Brooklyn, NYC, and other areas around New York City.