Renovating your home is an exciting journey. It allows you to breathe new life into your space, improve functionality, and enhance its value. But before you pick up that paintbrush or start tearing down walls, you need one thing—an effective plan. This guide will help you estimate your house remodel cost and plan your budget wisely so you can make your dream home a reality without unnecessary financial stress.
Why remodel your home?
- Improved living conditions: Over time, homes require updates to meet modern needs. A remodel ensures your house adapts to your current lifestyle.
- Increased property value: Renovations, such as a modular kitchen or upgraded bathrooms, can significantly boost your property’s market value.
- Aesthetic appeal: Your home should reflect your style. A well planned remodel can elevate its look and feel.
While these benefits are enticing, remodelling is not cheap. Proper planning is essential to avoid overspending or financial strain.
Factors affecting house remodel costs in India
1. Type of renovation
- Cosmetic upgrades: Repainting walls, polishing woodwork, or adding decor elements are low-cost improvements ranging from Rs. 50,000 to Rs. 1,50,000, depending on the scale.
- Structural changes: Modifying layouts, extending rooms, or changing flooring can cost Rs. 2,00,000 to Rs. 5,00,000 or more.
- Comprehensive renovation: Includes structural, cosmetic, and functional upgrades like plumbing and electrical work. Costs for this can range from Rs. 5,00,000 to Rs. 25,00,000 or more.
2. Size of the house: The larger the house, the higher the remodel cost. For example:
- A 1 BHK remodel may cost Rs. 2,00,000 to Rs. 4,00,000.
- A 3 BHK remodel could cost Rs. 8,00,000 to Rs. 15,00,000.
3. Quality of materials
- Economical materials: Basic tiles, paints, and fixtures reduce costs but may compromise longevity.
- Premium materials: High-end marble, designer lights, and custom furniture enhance quality but increase costs significantly.
4. Labour costs: Skilled labour charges vary by region. In metropolitan cities, labour costs for a full remodel can range from Rs. 2,00,000 to Rs. 6,00,000.
Estimating house remodel costs
Here is a breakdown to help you plan:
| Category | Estimated Cost Range (Rs.) |
| Flooring (per sq. ft) | 60 – 500 |
| Painting (per sq. ft) | 20 – 100 |
| Modular kitchen | 1,50,000 – 5,00,000 |
| Bathroom remodel | 1,00,000 – 3,00,000 |
| Plumbing and electrical | 1,00,000 – 2,50,000 |
| Furniture and fixtures | 2,00,000 – 7,00,000 |
*This table is a general estimate. Costs can vary based on your location, material quality, and design complexity.
How to plan a remodelling budget
- Set priorities: List all the upgrades that you want. Then, rank them based on necessity versus desirability. Focus on high-priority items first.
- Research and compare costs: Obtain quotes from multiple contractors and suppliers. Comparing options helps you find the best value for your money.
- Keep a contingency fund: Unexpected expenses are inevitable. Allocate at least 10–20% of your budget as a buffer for surprises.
- Consider a top-up loan: Big remodelling projects can strain your savings. A top-up loan can be a smart way to fund your renovations without breaking the bank.
Financing your house remodel
House remodelling projects, even with the most budget-friendly plans, can sometimes put a strain on your finances. If you already have a home loan with Bajaj Housing Finance, you can easily apply for a top-up loan to cover your remodelling expenses.
If your existing home loan is with another lender, you have the option to transfer it to Bajaj Housing Finance through our home loan balance transfer facility. This move not only helps you secure lower EMIs with competitive interest rates but also gives you access to a top-up loan of Rs. 1 crore* or higher. This all-in-one solution allows you to refinance your loan and fund your house remodel effortlessly.
Here is why our home loan balance transfer and top-up loan are perfect for your needs:
- High top-up loan amount: Transfer your existing home loan to Bajaj Housing Finance and enjoy a top-up loan of Rs. 1 crore* or higher to cover your remodelling expenses.
- Low interest rates: Benefit from affordable interest rates starting at just 9.10%* p.a., keeping your EMIs low.
- Convenient repayment tenure: Enjoy a flexible repayment period of up to 32 years, ensuring your EMIs remain affordable and manageable.
- Easy process: Our home loan balance transfer process is simple, with minimal paperwork required for a quick and smooth experience.
Remodelling your house does not have to be overwhelming or financially burdensome. With the right financial partner, you can create the home of your dreams while staying within your budget.
