The average cost of renovating a luxury home is over €75,000, with others going as high as €130,000. However, the actual amount varies with respect to the size of the house, renovation work and the cost of materials. Since luxury homes come with expensive designs and exotic equipment, their cost is above any building project in its league.
Breaking the cost down to specifics, renovating a square foot costs between €35 and €70. Availability of material and skilled labour are the main factors that cause fluctuation in price per unit. The following are some areas that need renovation and their average cost.
Location is vital since it estimates the amount used to transport the material. Construction or renovation projects require bulky materials whose cost might significantly affect the overall project cost. Renovating a luxury home in the interior costs more than the one nearer to a transport corridor or near a town.
The size of the home matters as it affects the total amount used for renovation. Big houses take in more work and material, raising the operation cost. However, it gives enough room for creativity, especially in the living room and bedroom. Nevertheless, a good designer can also turn a small place into a small haven, ideal for a holiday home for two.
Economic activity in the area also dictates the renovation costs. The type of home renovation Cannes city undergoes are short of magical. The city has an international reputation for film, making it a tourist hub in southern France. Since Cannes’s cost of living is higher due to its economic activities, a house renovation cost is also higher. Moreover, the renovations must stand out and quantify the premium service charge for a luxury home in the city.
The age of the house could also decide the amount spent to renovate. Although medieval houses were classic architectural masterpieces built on solid foundations, it takes time and money to make them modern. However, when the homes are complete, they are not only luxurious but also astonishing. If you find an architecture firm that can blend classic and contemporary themes, utilise their expertise.
The lead designer should be a licensed architect, well versed in luxury houses and exotic destinations. Their work is to bring out the best, which is both simple to comprehend and easy to build.
Other professionals in the team include a water and environmental engineer, electrical engineer, civil and structural engineer. The team will design how the amenities will jell, producing a seamless flow of events when the actual renovation begins.
As a show of confidence, the architect can produce previous designs of the same calibre. It shows knowledge and results that assure the client when taking up the new projects. Since every renovation aspect is drawn to scale, any mishap can turn fatal.
The renovation design must be relatable and passes all regulatory approvals. From the bill of quantities to future adjustments, the design should be easily interpreted and actualised.
A cost estimator is essential when getting the actual cost of renovating a luxury house. It breaks down the cost to the smallest unit, which helps plan, especially when doing a project over time. There are several cost estimators online where you fill in the quantities you need. It gives you the cost per acquisition of every material, estimating the overall construction cost.
For luxury homes, the cost estimator quantifies costs for high-end renovation material, appliances, structural and foundation renovation and any layout changes. Of all the rooms in a luxury house, the kitchen and bathrooms are the most expensive per square foot. They might be small rooms, but the replacement and renovation needed are costly.