One of the single most common questions National Code Plans hears from its long list of clients is “what are the costs for remodeling the home?” Every business needs a business plan that has as accurate and real world costs as possible so that you can budget accordingly. Like all the prices listed here, the cost of things can vary from one market to another, so we’ll just list the average cost or a range of costs for homes in the Midwest. Here are the typical costs of remodeling and updating a home you need to account for.
1. The cost of the home: This one is self-explanatory, you either already own a home or you need to rent or purchase one, either way there are mortgage costs, rent, property taxes, insurance and other costs. This should go at the tope of your budget.
2. Fire alarm system: 99% of all homes will need a fire alarm system, some states or cities will recognize that homes with 1-3 residents don’t qualify as a Residential Board and Care Home, and thus they aren’t regulated, possibly not licensed, and often aren’t required to have a fire alarm system. But it’s hard to make money with just 3 residents, so most homes have 4 to 12 residents, and all homes of this size are required to have a fire alarm system. A fire alarm system for the average home will range in cost from $15,000 to $25,000, it’s very important to get more than one bid because prices will vary, and sometimes there’s a big difference.
3. Sprinkler system: About half of all homes will need a sprinkler system, and there are a lot of factors that can trigger a sprinkler system, so it’s vital you contact National Code Plans as soon as possible to determine if you need this system or not, because aside from buying a home, or possibly a large remodel or addition, this is often the largest cost in opening a home. The cost of sprinkler systems have risen dramatically since the Covid 19 pandemic, and now my clients report that sprinkler system estimates range from $30,000 0 $45,000. It’s important to note there are 3 different types of sprinkler systems, and these can play a factor in costs, and that for homes in rural areas that may not have city water, or a nearby hydrant within 500’ of the home, that a sprinkler system could require large water storage tanks that can drastically increase the cost.
4. Doors: unless your home was previously used as a residential board and care home, you’ll need to replace some of the doors and possibly all of the door hardware, in the home. All bedroom doors should be solid wood doors to resist the spread of fire, typical residential bedroom doors are hollow wood. It can cost about $200 to replace a door with one that is the same size. Homes for the elderly of for residents who might be in wheel chairs should have bedroom and bathroom doors enlarged up to 36” wide where possible, and since most residential doors are 24” for bathrooms, and 30”-32” for bedrooms, you typically need to enlarge each door opening and install a larger solid wood door. Enlarging the doors means replacing door trim and usually moving a light switch that is next to the door, therefore it’s usually about $500-$600 to enlarge a door. Bedroom doors also need to have closers on them, these are about $50 each. And all doors in the home that residents will use (bedrooms, bathrooms, living areas, and entry doors) cannot have knobs, they have to be a lever type door latch. Replacing old knobs with levers can cost $25-$50 per door depending on the style of hardware you pick. It’s important to note that the front entry doors to homes must have specific door hardware, we won’t go into detail here, but the locks and hardware can easily be $75-$300 for an entry door.
5. Windows: every bedroom has to have a window to be considered a bedroom, and in homes without a sprinkler, that window has to also be an “egress window,” meaning that a resident or first responder can crawl through that window to assist in an emergency. About 50% of homes have bedroom windows that meet egress requirements, nearly all new homes built since 1990 have windows that are compliant, but most older homes pre-1990 do not, and we have to replace just one window per bedroom with a new one. Luckly, it’s rare that we have to enlarge the window opening (cutting the hole in the wall larger), we often can just change the window style to a casement window that has a hand crank that opens the window outward. A stock sized window can be about $500 replaced, but a custom window can easily cost $1,000 - $1,300 installed. If prices seem high, get a second quote.
6. Ramps: ramp additions to a home can have to many variables to really quote a price, but if you only need a small ramp of up to 4”-6” to enter the home, you can buy off the shelf metal ramps. But if you need a larger ramp built on site, those can be thousands of dollars. Just don’t forget to budget for something if you will need a ramp.
7. Finishes and flooring: Homes for the elderly often require that carpet is replaced with vinyl or wood flooring, which are more easily washable surfaces. Prices vary by material types and the amount of flooring you will need, but it can easily reach into the thousands, so remember to keep a line item in your budget for this cost.
8. Exit signs and egress lights: Most homeowners believe that the exit lights at exterior doors and the emergency egress lights in hallways and living area are part of the fire alarm system, but they are not, and are often installed by a separate independent electrician. You should budget at least $1,000 to purchase and install exit signs and egress lights.
These aren't all the costs, there are also things like a bathroom remodel ($10,000-$20,000 per bathroom) or remodeling the garage to raise the floor and add more bedrooms (can vary widely). It's important to have an idea of costs, develop a plan, and work with your architect to create a remodel plan so you can open the perfect home!
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