You sit on your sala having an afternoon siesta, and suddenly the rain pours down. You’ve realized that there are leaks at the ceiling, the paints are flaking, and your home seems already on a cry. After ten years of living in New Manila, you decided to have a home renovation New Manila, QC— something that would restore, freshen up, and keeps you in comfort!
You became so excited, but also asked yourself, “how much does a renovation cost?” Can I truly afford it?
Whether you want to have a kitchen makeover, have an additional room and deck, or have a full home renovation, here are the renovation costs per square meter in New Manila.
First and foremost, let’s start with the basics.
Factors Affecting the Cost of a Home Renovation
Whether you are renovating your home twenty years ago, or you are still planning, there are several factors that influence your home renovation costs, here are some:
(1) Size. Wherever your home in New Manila is, the size is one of the biggest contributing factors. Renovating a two-bedroom townhouse is much cheaper than a four or five-bedroom. While a simple 50-square condo unit is also cheaper than a hundred square.
(2) Materials. If you want to invest in premium materials, take note that it also comes at a premium cost. While if you’ll consider alternatives or cheaper materials on a hundred square meter home, then it would cost a lot cheaper than using premium materials in a 75-square meter.
(3) Renovation Type. Renovation work is usually categorized into two — structural and cosmetic.
The structural renovation includes extensions, loft conversions, construction of basement or decks, redesigning of floor plans, re-wiring or re-plumbing while cosmetic renovation may include painting or interior upgrades, flooring, fixtures, fitting, and landscaping. Since the structural requires extensive works than the latter, it usually costs much higher.
(4) Contractor. Just like other businesses, contractors also differ with their rates even working on the same job. Make sure to choose the right contractor that would give a fair rate with a high-quality outcome.
The Cost of Home Improvement in New Manila
Given the factors that may affect the cost of a home renovation in New Manila, here is the average cost per square meter.
According to 2016, Construction Cost Handbook of construction consultancy services provider Langdon & Seah Philippines Inc., terraced houses and average homes may cost between 25,700 to 31,000 per square meter, including the mechanical, electrical and plumbing expenses. While detached houses and high-end residences, on the other hand, costs may vary between 53,900 and 63,150 per square meter, where your New Manila home falls.
Given that scenario, let’s say that you have a 100 square meter home that you’d love to renovate, then it may cost up to a minimum of 5,390,000 up to 6,315,000 pesos.
Some Important Home Improvement Reminders
While renovation costs in New Manila may rise over time, you may also think about renovating your existing home or moving into a new one? Here are some thoughts:
(1) Do you keep emotional ties on your home? Ask whether you’re having a strong relationship with the community, people, or your surroundings. If you have a strong connection to your neighborhood, then renovation would be the best option.
(2) Check your budget. The most critical factor in choosing is your realistic budget. If you’re serious about remodeling your home, then communicate with your contractor and let them know all your plans.
If you are hesitant, then you may compare prices between remodeling or moving.
There are families who love to stay in their homes, build their funds, and renovate, while others decide to sell their homes and move into a new one.
(3) If you will remodel, will you earn back the upfront costs? Before finally deciding to remodel your home, determine first whether you can take advantage or you have a return on investment whether you want to sell or have its lease in the future.
(4) How long will the renovation take? If you’re only having a minor renovation, then you may opt to stay in other parts of your home. However, if you decide for a full renovation, then, you need to move out temporarily. Check how long will the renovation takes and see how you’ll live on those times.
Having a home in New Manila is one of your greatest assets — a grand and peaceful abode in the midst of the busy Metro, a property with a higher value over time, and a piece that truly serves as your home for the whole family.