How much do home renovations cost? Prices and useful tips

New year new you? It’s more like a new home- without buying a new address! Bring out your mood boards- home renovation fever beckons us! 

Pinterest boards brim with sparkling kitchens and zen-like bathrooms, whispering promises of a transformed life just beyond the drywall dust. But amidst the design daydreams, reality bites: how much will home renovation cost? This is no walk in the park, friends, but a thrilling rollercoaster ride through hidden currents that can send your budget spiraling (think Dussehra mela with unexpected dips!). But fear not, for we’ll be armed with budgeting wisdom, sprinkled sprinkled with desi money-saving secrets. Buckle up, fellow home warriors, and get ready to navigate the Costly Coaster with finesse!

The Costly Coaster: Buckle Up for Twists and Turns

Imagine your renovation as a thrilling Dussehra mela ride, but with unexpected dips that leave your wallet feeling lighter than your stomach after that extra samosa. Here are the main culprits that can make your budget scream “whee!” in the wrong way:

  • The Grand Plan: Is it a quick kitchen facelift or a Bollywood-worthy extension fit for Shah Rukh Khan himself? The bigger and fancier the vision, the steeper the climb. Remember, Rome wasn’t built in a day (and definitely not on a Bollywood song budget!).
  • City Slick vs. Village Chic: City slickers, listen up! Renovations in bustling metros like Mumbai can cost significantly more than those in sleepy towns like Jaisalmer. That farmhouse dream might be cheaper in Kerala than Gurgaon, so consider trading honking rickshaws for chirping peacocks!
  • Material Matters: Think granite countertops versus trusty, timeworn Kota stone. High-end finishes add a hefty price tag, while budget-friendly options keep things grounded (literally!). Remember, beauty doesn’t always come with a diamond price tag, just like that stunning sari your grandmother found in the bazaar!
  • The Skilled Hands of Karigars: Skilled contractors deserve their fair share, and their rates can vary depending on experience, location, and the complexity of your project. Don’t underestimate the value of a good ustaad – their skill can turn your vision into reality like a magical puppeteer!
  • Paperwork Panic: Permits and inspections can be the unexpected villain in your renovation story. Factor them into your budget or risk facing a surprise cost at the finish line. Remember, “jugaad” won’t always work with official documents, so play it by the book!

Price Point Peek: A Glimpse into Renovation Reality

Now, let’s get down to the nitty-gritty: the real numbers (in lakhs, because who talks in crores before the lottery win?). These are just ballpark estimates, but they give you a sense of what different full home renovation might cost:

  • Kitchen Kahaani: A basic refresh could cost around ₹1 lakh, while a full-blown makeover with fancy appliances and gleaming countertops can easily top ₹5 lakh (or even more!). Remember, that extra tandoor might be tempting, but consider cooking up delicious memories within your budget first!
  • Bathroom Bliss: From a simple sink swap to a spa-like sanctuary, bathroom remodels can range from ₹50,000 to ₹2 lakh, depending on the size, materials, and your definition of “bliss” (heated towel racks, anyone?). Remember, sometimes a relaxing soak in a bucket under the stars can be just as blissful (and much cheaper!).
  • Living Room Refresh: Breathe new life into your space with a budget-friendly update for around ₹20,000, or splurge on a luxurious transformation with a fireplace and built-in bookshelves for ₹1 lakh or more. Remember, sometimes a fresh coat of paint and a cozy rug can work wonders, just like a dash of rangoli brightens up a courtyard!

Budgeting Like a Boss: Taming the Renovation Beast

Feeling overwhelmed by the numbers? Don’t worry, there’s hope! Here are some battle-tested tips, to ensure that the cost of remodeling house remains within your comfort zone:

  • Plan Like a Pro: Before you even buy a paintbrush, meticulously plan your project. Define your scope, create a detailed budget (and stick to it!), and get multiple quotes from contractors. Remember, a well-thought-out plan is like a sturdy foundation for your dream home!
  • DIY When You Can: Feeling handy? Tackle smaller tasks like painting, tiling, or installing fixtures yourself to shave off labor costs. Just be honest about your skill level and remember, a botched tile job is no laughing matter (unless it’s on April Fool’s Day)!
  • Material Magic: Don’t underestimate the power of budget-friendly alternatives! Laminate countertops can look surprisingly sleek, and recycled materials like wood or clay can add a unique touch without breaking the bank. Remember, just like that delicious leftover curry tastes amazing the next day, sometimes budget-friendly materials can create stunning results!


 Remember, a successful renovation isn’t just about dazzling finishes and Instagram-worthy snapshots. It’s about crafting a space that reflects your unique story, resonates with your soul, and stays kind to your bank account. Approach it with a blend of meticulous planning, budget-savvy resourcefulness, and a dash of desi jugaad, and your dream home won’t just be a picture-perfect haven, it’ll be a vibrant tapestry woven with memories, laughter, and the sweet aroma of a perfectly spiced curry. So grab your toolbox (metaphorically speaking, that is, unless you’re actually handy!)


Frequently Asked Questions (FAQs):

Finnable has set a required minimum age for personal loan of 21 years for individuals to be eligible for a personal loan. This ensures that applicants have reached legal adulthood and are capable of entering into a financial agreement.

Yes, Finnable understands the financial needs of young borrowers and offers personalised loan options tailored to their specific requirements. Whether it's financing higher education, purchasing essential items, or starting a business venture, Finnable provides support to young individuals seeking financial assistance.

Borrowers nearing retirement may have unique financial needs, such as retirement planning, medical expenses, or supporting their children's education. Finnable offers personalised loan solutions that consider the specific circumstances of pre-retirement individuals, helping them meet their financial goals.

Unfortunately, no. Finnable does not, at the moment, offer any loans to senior citizens. Currently, 60 is the maximum age for personal loans set by Finnable

Other than personal loan age limits, Finnable considers various other factors for determining loan eligibility. These factors may include the applicant's income, credit score, repayment capacity, and employment stability. By assessing these aspects comprehensively, Finnable ensures that borrowers across different age groups can access the loan products that best suit their financial needs. 


Amit Arora

I am a seasoned retail banker with over 21 years of global experience across business, risk and digital. In my last assignment as Global Head Digital Capabilities, I drove the largest change initiative in the bank to deliver the end-to-end digital program with over US$1 billion in planned investment. Prior to that, as COO for Group Retail Products & Digital, I implemented a risk management framework for retail banking across the group.
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