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How much does it cost to renovate a house in Chania, CRETE?

How much does it cost to renovate a house in Chania, Crete?

While a residential property renovation seems easy when it’s designed down with a property owner who do not have a reliable knowledge of the market, the reality is a bit more daunting – and so is the cost required to produce a great result.

According to ARENCORES, a leading real estate firm in Chania, Crete half of all renovations in the island of Crete are valued between € 20,000 and € 200,000. We sat down with Civil Engineer and Founder of ARENCOS Maria Gkika to find out how much does it really cost to give your property a long-awaited makeover.

When you meet with clients wishing to proceed to renovation works for their homes, what’s the first thing you do to estimate the renovation cost?

“I always work in a constructive way with my clients and sometimes looking backwards is a very reliable way to provide a consistent prognosis about the cost of renovation. Thus, I think it’s critically important to know the pragmatic, the real value of the property. Next, you can estimate what you think it’s going to be worth once the renovation works are completed. I always do perform like this because I care for my clients. This is one of the most important steps to avoid the pitfall of overcapitalizing on renovation works. So, the first question is: How much does your property really worth? What price should I sell your house for?

Then I would discuss with my clients about what kind of renovation work they’d like to do– is it a kitchen renovation or a renovation of the roof and the exterior areas? Or just a small bathroom renovation? Perhaps it’s a combination of renovation works. Once we’re done, we’ll talk about what the property might be worth when it’s renovated – this is how we create a consistent budget range.

I always do follow this multi-directional strategy. It’s important because some clients do not want to capitalize on the renovation procedures because it might be their forever residential property in Crete.”

Does it really make a difference if a property owner wants to live in their house forever or are planning to sell?

“Some clients might say they have € 10,000 to spend and decide later for a large-scale renovation. This budget means the decisions for renovation will be different compared to if they were going to sell.

For example, if they were willing list their home for sale with a real estate agent, I would suggest and indicate as a priority for renovation the external areas of their property like the front of the house – or even the living room or the kitchen. We know modern living rooms and kitchens sell houses much faster.

If a prospective buyer looks at a residential property and it has an appealing living area or modern and bright kitchen and then they get to the bathrooms but they’re not amazing, it doesn’t matter as much because these people already know they like the house.

However, if it is a ‘forever’ home, I would suggest to procced to renovation works for the most important areas for them and their family.”

Is it more about how you spend, not how much you have to spend?

“A big part of renovating is predicting the budget of the renovation works so that you can do as much as you need to do without crossing the red line. A client may have €50,000 but only want to spend €5,000 on the roof, for example.

I see a lot of people spending € 20,000 more than they should on the kitchen or in other areas of their properties. Most of them are shocked by the result, as many of those who think they’re within budget aren’t when the renovation is finished. This is the start point of sorting out their budget. What is more, they haven’t renovated all the areas of their property they want to.”

So how much does a bathroom renovation cost?

“When it comes to bathroom renovations, you’ll want to avoid making unnecessary modifications to your existing sanitaryware layout. However, you should need a certain number of square metres of tiles, shower screens, a bath, vanities and someone with a good knowledge on the bathroom plumbing.

The easiest way is to walk straight into your nearest bathroom retailer or go online and start ordering your new sanitaryware, tiles, shower screens flooring and lighting. Yet, there’s a big benefit to having someone who’s done all that before.

Do you want to try to save some costs by doing it yourself but risk going over budget or do you pay a professional to deliver the project for you and mitigate the potential of overspend?

Save yourself the hassle.

According to my experience renovating a bathroom tends to cost between $4,000 and $20,000. Replacing tiles and the plumbing system often pushes up the cost of bathroom makeovers.”

How much does it cost to renovate a kitchen?

According to our experience, renovating a kitchen in Chania, Crete could cost anywhere between €8,000 and €45,000.

The price varies depending on the materials and products you use and your kitchen’s size. Markantonakis P&G can help you design your dream kitchen in Chania. At Markantonakis P&G you can select between the most popular kitchen designers such as Valcucine, Modulnova, Poliform, Snaidero, Binova, Casamania, Kristalia and many others.

How much does it cost to renovate a living room?

One of the more affordable renovation works, simple yet, effective changes to living rooms cost anywhere between € 5,000 and €20,000.

If you’re thinking of replacing flooring or the then you’re to likely spend more than €25,000, which you should consider very carefully if you want to remain in your budget.

How much does it cost to renovate a bedroom?

You can change the entire look and feel of any bedroom for less than € 1,000.  For a large, master bedroom, with dimensions around 30.00 sq.m, your renovation cost can be around € 1,500 to € 4,000, depending on the cost of materials you choose. However, renovation cost can be as much as € 10,000 + – if you’re adding an en suite bathroom or adding stone flooring and accent lighting.