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The average cost to renovate or remodel a home is $52,300, with most projects ranging from $19,500 to over $88,400. However, costs can vary significantly, from as low as $3,000 for a small project to $170,000 or more for a complete home remodel.

Several factors influence the total price, including:

• Project Scope and Size: The extent of the renovations, whether it's a single room or the entire house.

• Location: Geographic location affects labor and material costs.

• Materials: The quality of materials chosen.

• Room Type: Kitchen remodels ($14,500 - $70,000+) are generally more expensive than bedroom remodels ($1,500 - $5,500).

• Other Factors: The time of year, complexity of the work, and any additions or expansions.

On a per-square-foot basis, you can expect to pay between $15 and $60 for standard projects and up to $150 for luxury renovations.

Examples of specific project costs include:

• Basement remodel: ~$20,200

• Garage remodel: ~$27,900

• Loft conversion: ~$20,200

• Disability accommodation remodel: ~$4,300

• Major home repairs: ~$11,700

If you are financing the project, note that some loan programs, like the FHA 203(k), may require a minimum project cost (e.g., $5,000) and will necessitate a home appraisal and professional cost estimates. Using a home renovation cost estimator can also help you budget for your project.

Modular homes are a type of prefab home. Specifically, manufacturers first build modular homes in sections and then deliver them to the job site. The modules, or sections, are usually at least 70% finished before they arrive on your property.

In comparison, prefab homes arrive in panels or segments, and workers assemble them on-site. Generally speaking, modular homes tend to be more durable, and their consistent construction standards may mean you’ll have an easier time getting conventional home loans.

The term “cottage” is subjective, so there’s no rigid definition, but it generally refers to a small home with simple and purposeful architecture that embraces nature and focuses on charm over everything else. Cottages are typically 1 or 1 1/2-stories tall, usually with gabled roofs, and are built out of natural materials that help make the structure a part of the surrounding nature rather than something that stands out from it. A big part of what makes a cottage a cottage is the decor, which includes natural materials from the nearby area.

The average build timeline for a home is between six and 12 months, with timelines pushing toward the upper end of that range if you’re creating a custom design or need a lot of land preparation before getting started. Hiring a general contractor or a custom homebuilder will help speed up the process, as you’ll see fewer delays between different parts of the build process getting done.