A whole-home remodel is a big check. Done right, it’s also the best money you’ll spend on the house. Done wrong, it stalls halfway through. Here are the budget rules we share with every client before we draw up an estimate.
1. Pick a number you can actually live with
Not a stretch goal. Not the most you could pay if everything went perfectly. The number that lets you sleep at night if the project goes 15% over (which it often does on whole-home jobs). If that number is $300K, plan as if it’s $260K. The gap between those two numbers is what protects you when an inspection turns up something nobody expected.
In the Portland metro market in the mid-2020s, whole-home remodels on mid-century or older houses typically run somewhere between $150 and $400 per square foot, depending on the level of finishes and how much of the structure is being touched. A 2,200 square foot ranch getting a full interior reset with new kitchen, two baths, refinished floors, paint, lighting, and basic systems work is rarely under $250K. If your number is well below the market, the project will either come in scoped down or come in late.
2. Hold back a real contingency
10 to 15% of total project cost, set aside, untouched. When we open up a wall and find knob-and-tube wiring or a slow leak that’s been quietly rotting joists, the contingency is what keeps the project moving instead of turning into a fight.
Older Portland-area homes (anything pre-1960) almost always come with surprises. We see knob-and-tube wiring buried in attic insulation, two-prong outlets feeding modern kitchens, galvanized supply lines that crumble when touched, and cast-iron drains that flake apart on the first cut. Houses built before 1978 also fall under the EPA Lead-Safe Renovation rule, which means any disturbance to painted surfaces has to follow specific containment and cleanup protocols. Keyser Construction is EPA Lead-Safe Renovator Certified, and we factor that work into the bid. But the surprises behind the drywall are what the contingency is for.
3. Decide your finishes up front
Tile, cabinets, countertops, plumbing fixtures, lighting, appliances. The further into the project you make these calls, the more they cost. Both in dollars and in schedule delays.
Cabinet lead times can run 8 to 14 weeks. Specialty tile from Europe can run longer. If we get to framing inspection and you still haven’t picked your vanity, that’s not a small problem. A good practice is to lock the major finish selections before demolition starts, then use the construction window to lock the smaller ones (door hardware, switch plates, paint sheen). Bring photos to the selection meetings. A picture of a kitchen you love tells us more than a paragraph of description.
4. Don’t chase the cheapest bid
If three contractors quote $250K, $290K, and $180K, the $180K bid is missing something. Either scope, or quality, or both. The cheapest bid almost always becomes the most expensive project.
When you compare proposals line by line, look at the allowances. A bid with a $40 per square foot tile allowance and a bid with a $12 per square foot tile allowance are not the same bid, even if they appear to cover the same work. Look at the demolition line. Look at the dump and disposal line. Look at whether the cabinet number is for stock cabinets or semi-custom. Apples to apples is the only meaningful comparison.
5. Get it in writing
Scope, materials, allowances, schedule, payment terms. Everything. If a contractor won’t put it in writing, that’s the answer to whether you want to work with them.
Oregon requires a written contract for residential construction work over $2,000, and the Construction Contractors Board (CCB) publishes the consumer protection notice that has to accompany it. Any licensed Oregon contractor will hand you both without being asked. Keyser Construction is CCB #121142 and , and our contracts include the required disclosures, a payment schedule that ties draws to milestones, and a written change-order procedure so price changes during the project never come as a surprise.
6. Plan for the permit timeline, not just the construction timeline
Permit review at the City of Portland or any of the smaller jurisdictions (Lake Oswego, West Linn, Beaverton, Tigard) is not instant. Structural work, electrical service upgrades, and additions can sit in plan review for weeks. System Development Charges (SDC fees) may apply on additions or new dwellings, and they vary by jurisdiction. We build a realistic permit window into every whole-home estimate so that “start date” actually means start date.
Where the money actually goes
For a typical whole-home remodel of an older Portland-area house, the rough breakdown looks like this:
- Kitchen: 20 to 30% of total budget
- Bathrooms (each): 8 to 15%
- Flooring, paint, trim throughout: 10 to 15%
- Electrical, plumbing, HVAC updates: 10 to 20%
- Structural and framing surprises: 5 to 15%
- Permits, fees, contingency, general conditions: 10 to 15%
Those percentages move depending on what your house needs. The point is that no single line item is the whole project. Budgeting around a balanced breakdown keeps you from overspending on one room and starving another.
If you’re ready to talk numbers on a whole-home project, get in touch. We’ll walk the house, talk through your priorities, and put real numbers on paper before you commit to anything.