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A construction manager is particularly useful in the case of a large-scale build with custom design elements, so it’s usually worth it to hire one. They can help manage your budget, maintain quality control, oversee timelines, and navigate unexpected hurdles. While construction managers are pricey, they can actually save money in the long run by identifying cost-saving opportunities and ensuring the project stays within budget.

Modular homes can be a great investment, especially for those who find the prices of stick-built real estate too high. Modular homes are usually much more affordable because they’re mass-manufactured and then assembled on-site or delivered mostly assembled. If they’re installed properly and by professionals, they can last for between 50 and 100 years, potentially making them an outstanding investment.

The longest part of building a custom home is the design phase. It takes multiple professionals and a ton of work to bring your vision for your dream home to life while sticking to a homebuilding budget and also ensuring everything is built to code. Expect the design phase for a custom home build to take six months to a year.

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.