Budgeting Tips for NYC Apartment Renovation
When planning an apartment renovation in New York City, it's essential to understand the average costs associated with various upgrades. As an architect, I've compiled data from the Remodeling 2023 Cost vs. Value Report to provide insight into the top 10 upgrades and their average costs in NYC.
1. Hardwood Floor Refinishing
Average Cost: $3.50 to $5.00 per square foot
Refinishing hardwood floors is a cost-effective way to refresh your apartment's interior. The average cost ranges from $3.50 to $5.00 per square foot, making it a relatively affordable upgrade.
2. Minor Kitchen Remodel (Midrange)
Average Cost: $30,923
A minor, midrange kitchen remodel in New York City costs an average of $30,923. This includes updating a 200-square-foot kitchen with new shaker-style wood panels, drawer fronts, hardware, appliances, laminate countertops, and resilient flooring.
3. Closet Renovation
Average Cost: $2,000 to $6,000
Closet renovations, such as adding built-ins, are a relatively low-cost way to upgrade your NYC apartment. The average cost for a closet renovation ranges from $2,000 to $6,000.
4. Installing a Washer/Dryer
Average Cost: $2,500 to $5,000
The cost of purchasing and installing a washer and dryer in your NYC apartment ranges from $2,500 to $5,000 on average.
5. Bathroom Remodel (Midrange)
Average Cost: $30,235
A midrange bathroom remodel in New York City costs an average of $30,235. This involves updating an existing 5x7-foot bathroom with a new porcelain-on-steel tub, ceramic tile surround, and new fixtures.
6. Bathroom Remodel (Upscale)
Average Cost: $89,921
An upscale bathroom remodel in New York City costs an average of $89,921. This includes expanding an existing 35-square-foot bathroom to 100 square feet and installing high-end fixtures, a free-standing soaker tub, and custom cabinetry.
7. Window Replacement (Wood)
Average Cost: $29,151
Replacing 10 3x5-foot double-hung windows with insulated, simulated-divided-light wood windows costs an average of $29,151 in New York City.
8. Window Replacement (Vinyl)
Average Cost: $23,678
Replacing 10 3x5-foot double-hung windows with insulated, simulated-divided-light vinyl windows costs an average of $23,678 in New York City.
9. HVAC Conversion (Electrification)
Average Cost: $23,789
Converting from a fossil-fuel furnace to an electric heat pump in New York City costs an average of $23,789.
10. Entry Door Replacement (Steel)
Average Cost: $2,667
Replacing your apartment's entry door with a new 20-gauge steel unit in New York City costs an average of $2,667.
When budgeting for your NYC apartment renovation, consider prioritizing upgrades that offer the highest return on investment while aligning with your specific building's requirements and your personal needs. By understanding the average costs associated with these top 10 renovations, you can make informed decisions and plan your budget accordingly. As an architect, I recommend focusing on upgrades that will enhance your apartment's functionality, appeal, and overall value. If you’re ready to start making selections to get a more realistic budget, check out our calculator.
