Homeowner Answers
Straight answers for owning, repairing and improving your home.
Plain-language answers to the questions homeowners actually ask, written and reviewed by Owners & Homes.
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Renovation Costs
How much contingency money should I keep for a renovation?
Plan on 10 to 15 percent of the project cost for new or recently updated homes, and 20 percent or more for houses built before 1980 or for any project that opens walls, floors or the roof deck. The contingency is for conditions you could not see, not for upgrades you decide you want mid-project. Keeping those two buckets separate is what prevents a budget from quietly doubling.
Reviewed September 2026
Renovation Costs
How can I tell if a renovation estimate is realistic?
A realistic estimate is itemized, names specific products or states honest allowances, includes permits and cleanup, and lines up within roughly 15 percent of other bids for the same written scope. Be suspicious of a single-line total, of allowances far below retail pricing, and of any number dramatically lower than the others — that gap almost always reappears later as change orders. Price differences between good contractors usually come from scope, not from greed.
Reviewed September 2026
Renovation Costs
What renovation costs do homeowners commonly overlook?
The costs most often missing from a homeowner's budget are the ones that are not part of the finished room: disposal, permits, protection and cleanup, temporary living arrangements, and the small purchases at the end. Together these routinely add 10 to 20 percent to a project. Allowance overruns are the other big one — the bid assumed $40 per square foot tile and you chose $95.
Reviewed September 2026
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