Obviously there is a wide range in the investment that will be required to complete a whole-house cosmetic renovation, a major home remodel, or a new ground-up custom home. And even within each type of project the range can vary significantly based on a number of factors. For example;
- The complexity of the architectural design and associated engineering is one driver.
- The overall square footage is another factor. Size directly impacts the economies of scale (larger projects have greater efficiencies and lower investment per /Sf.)
- And of course there is the level of finishes, fixtures and equipment that impacts the overall investment.
With that expected variation understood, there is a planned investment level that makes sense to work with STUDIO 818 and employ our Design + Build Management framework with each type of project. Here is some VERY generalized “thumbnail” guidance on each type of project scope. This broad guidance is meant to serve only as a starting point for discussion.
PLEASE NOTE: The following are “ALL-INCLUSIVE” realistic projections on investments you can expect. This is important to keep in mind and are VERY different from the numbers a builder may share. All-inclusive means that the investment per/Sf. guidance provided below includes general allocations for design, planning & engineering, permitting, construction labor, rough construction materials, project management, finishes, fixtures & equipment. The only things these “all-inclusive” numbers do not include are the land, furniture or artwork.
This guidance is to use ONLY as an initial base for deeper discussion in your Discovery Consultation.
♦ INTERIOR DESIGN FOCUSED COSMETIC RENOVATION: With current supply chains, labor and material costs you can figure on investing in the range of $125/Sf. to $200/Sf. as a base starting point for a home renovation focused on the cosmetic aspects of interior design. This is a general investment range when completing a whole-house renovation. The quality of millwork and the level of the level of finishes, fixtures and equipment are big factors in determining the project investment.
For your best return on investment for our advocacy and services your newly designed and renovated home should end up with a valuation of $1.5-million or higher after the project is completed. This is something we discuss in your Discovery Consultation and definitively let you know in your Project Assessment.
♦ MAJOR REMODEL: With current supply chains, labor and material costs you can figure on investing in the range of $225/Sf. to $350/Sf. as a base starting point for a major home remodel. Architectural complexity with additions and the level of the level of finishes, fixtures and equipment are big factors.
For your best return on investment for our advocacy and services your newly designed and renovated home should end up with a valuation of $2-million or higher after the project is completed. This is something we discuss in your Discovery Consultation and definitively let you know in your Project Assessment.
♦GROUND-UP NEW CUSTOM HOME: With current supply chains, labor and material costs you can figure on investing in the range of $600/Sf. to upwards of $1,000/Sf. for a new custom home. Site conditions, architectural complexity and the level of the level of finishes, fixtures and equipment are all major factors in determining where you fall in this all-inclusive investment range.
For your best return on investment for our advocacy and services your newly designed and renovated home should end up with a valuation of $3-million or higher after the project is completed. This is something we discuss in your Discovery Consultation and definitively let you know in your Project Assessment.
Again — these numbers are general guidance to provide a starting point for discussion.
These numbers also provide some initial guidance on planned investment levels that make good financial sense to employ our services. Keep in mind that the benefits you gain in efficiency, cost savings and return on investment increase exponentially as the budget, scope and property valuation increase.
To get a thorough understanding of what your total project investment is likely to be schedule your free Discovery Call and we’ll review your project together.