What does it cost to renovate an older home?

How Much Does It Cost to Renovate an Old House?

Renovating an old house can be a rewarding yet challenging endeavor. Whether you’re looking to restore a historic home to its former glory or simply make an aging house more livable, understanding the costs involved is crucial for budgeting and planning. The cost of renovating an old home varies widely depending on the condition of the property, the scope of work, the materials used, and whether you’re hiring professionals or taking a DIY approach. In this comprehensive guide, we’ll break down the different costs associated with old home renovations, factors that influence these costs, and ways to save money while preserving the character of your home.

Factors That Influence the Cost of Renovating an Old Home

1. Age and Condition of the Home

Older homes often come with hidden issues such as outdated electrical systems, deteriorating plumbing, or structural concerns. The older the home, the more likely it is that significant repairs will be needed before any cosmetic updates can take place.

• Minor Repairs (smaller in scope and localized; plaster repairs, trim repairs, siding repairs): $5,000-$30,000

• Moderate renovations (multiple trades; could involve some structural repairs like rotted sills or studs; some lifting/supporting required; kitchen and bath renovations): $30,000–$150,000

• Major renovations (large structural repairs, full gut and rebuild, additions): $150,000–$400,000+

2. Size of the House

Larger homes naturally require more materials and labor, increasing overall costs. The number of rooms, bathrooms, and levels in the home will influence the budget significantly. Renovation costs typically range from $90-$200 per square foot, depending on the extent of the updates.

3. Structural Repairs

Structural issues, such as foundation problems, rotting wood, or a failing roof, can drastically increase costs. Here are some common structural repairs and their estimated costs:

• Foundation repair: $40,000–$150,000

• Roof replacement: $15,000–$35,000

• Replacing load-bearing walls: $15,000–$35,000

• Fixing wood rot: $2000–$10,000 (depending on severity)

4. Cosmetic Updates

Once the major repairs are addressed, aesthetic renovations can be completed to restore the charm of an old house.

• Refinishing hardwood floors: $5,000–$15,000

• Painting interior walls: $2,000–$7,000

• Kitchen renovation: $35,000–$80,000

• Bathroom remodel: $25,000–$70,000

• Restoring original windows: $1200–$5,500 per window

Additional Cost Considerations

Historic Homes and Preservation Costs

If your home is considered historic, renovations may be subject to additional guidelines and restrictions. Using historically appropriate materials and methods can increase costs.

• Preservation architect consultation: $15,000–$65,000

• Custom woodwork and millwork (requires initial setup of machines/profiles: $5,000+

• Matching historical materials: 20–50% higher than modern materials

Permit and Inspection Fees

Depending on your location and the extent of renovations, you may need permits for electrical, plumbing, or structural work.

• Building permits: $500–$5,000

• Historic district approvals: Variable, depending on local regulations

• Home inspections: $500–$2,000

Unforeseen Issues and Contingency Budgeting

Old homes often hide surprises behind walls and under floors. It’s wise to set aside 10–20% of your total budget for unexpected costs.

How to Save Money on Old Home Renovations

1. Prioritize Repairs

Start with essential structural and safety repairs before moving on to cosmetic improvements. A well-structured renovation plan helps prevent overspending.  Consult with your contractor on this.  A serious problem like a settling foundation or a rotted sill that gets overlooked can come back to bite you after you’ve already spent your money on less important renovations.

2. Reuse and Restore

Many old homes contain valuable materials such as hardwood flooring, original doors, and antique fixtures. Restoring rather than replacing can save money while preserving character.

3. DIY Where Possible

Certain tasks like painting, minor demolition, or refinishing cabinets can be done yourself to reduce labor costs.

4. Phase Out the Work

If budget constraints are tight, consider renovating in stages rather than tackling everything at once.

Final Thoughts

Renovating an old home is a complex but rewarding process. While costs can vary widely, careful initial planning can help you mitigate cost overruns. Whether you’re restoring a historic property or making an older home more functional, understanding the costs involved ensures that your renovation remains on track without unnecessary financial surprises.