Home Renovation Budget
Budget estimate for a renovation project
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Home Renovation Budget is built for budget estimate for a renovation project — fast, free, and private. Just enter Area (sq ft) and Contingency (%); Home Renovation Budget updates the result as you type. Home Renovation Budget prints the result and its working. Home Renovation Budget suits budgeting and planning checks. Nothing is uploaded while Home Renovation Budget works, and the figures stay put. Home Renovation Budget handles home renovation budget calculator per square foot the same way as related figures — one of the Lifestyle tools on CalcProMaster. Home Renovation Budget is great for comparing scenarios. Change one value and watch. Start with Home Renovation Budget; the first number takes seconds.
What the defaults give
200 ft² at the mid finish level is $20,000 of base cost, and a 15% contingency brings the budget to $23,000.
The per-square-foot rate is the whole model: basic is $60, mid is $100, high is $180.
The formula
Base = area × rate per ft²
Contingency = base × contingency %
Total = base + contingency
Renovation estimates are usually built from a rate per square foot of floor area, because that is the number everyone can measure before any drawings exist. The rate folds labour, materials, removal and finishing into one figure, which makes it fast and blunt.
Worked examples
200 ft², mid, 15% → 20,000 + 3,000 = $23,000
100 ft², mid, 15% → $11,500
400 ft², mid, 15% → $46,000
200 ft², mid, 30% → $26,000
Cost scales linearly with area, which is the main weakness of the model: a small bathroom costs far more per square foot than a large open-plan room, because the fixed parts — a doorway, a window, plumbing connections, a tradesperson's day — do not shrink with the floor area.
Picking the finish level
Basic covers like-for-like replacement with builder-grade fittings: paint, flooring, standard units, a straightforward layout. Mid covers better materials, new units and minor layout changes, and is where most whole-room renovations land. High covers custom joinery, stone, structural work and design fees, and it is the level that runs over budget most often.
Kitchens and bathrooms sit above these averages for the same area; bedrooms and living rooms sit below. If the project is one room, treat the rate as a starting point and get two quotes before committing.
What is not in the figure
Permits, structural engineering, asbestos or lead removal, and anything hidden behind a wall are excluded. Those are the items that turn a 15% contingency into a 30% one. Contingency is not padding: on a renovation that opens walls, 10% is thin and 20% is prudent.
The number also excludes furniture, appliances and soft furnishings, and it assumes the property stays occupied. Vacating during works adds cost rather than saving it.
Frequently Asked Questions
How is the renovation budget calculated?
Area times the per-square-foot rate for the finish level, plus the contingency percentage. At 200 ft² and mid spec the base is $20,000 and 15% adds $3,000.
What counts as mid spec?
$100 per ft²: better materials, new units and minor layout changes. Basic is $60 and high is $180, which covers custom joinery, stone and design fees.
How much contingency should I hold?
15% is reasonable when walls stay closed. If the work opens walls or touches services, 20-30% is safer because hidden problems are the usual overrun.
Why is a small bathroom more per square foot?
Fixed costs do not scale down. A doorway, window, plumbing connection and a tradesperson's day cost the same in 40 ft² as in 200 ft².
Are permits and structural work included?
No. The rate covers the building work only. Permits, engineering, asbestos removal and structural changes are separate and often decisive.
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