![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/home-remodel-compressed.jpg\")
<\/a><\/p>\nPhoto by\u00a0Annie Gray<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n For two years, you\u2019ve been squirreling away a chunk of each paycheck \u2014 saving up to replace those yellowing laminate countertops with Calacatta quartz. But do you have a specific savings goal in mind or are you working towards an imaginary sum?\u00a0<\/span><\/p>\n According to a new survey by Discover Personal Loans<\/a><\/span>, homeowners underestimate the cost of home improvement projects by an average of 34 percent. The direct bank and payments services company polled 969 people, flagging the most common misestimated costs. Do you know how much money it takes to overhaul a kitchen or replace a wood deck? Keep scrolling to find out if your expectations are on par with reality.<\/span><\/p>\n Photo: James Bombales, design by\u00a0Karin Bennett<\/a><\/em><\/p>\n A whopping 78% of those surveyed underestimated the average cost of a kitchen remodel, based on data from <\/span>HomeAdvisor<\/span><\/a>. Consider this: A four-piece appliance package alone can set you back $10,000. The figure listed above is actually quite conservative when compared to upscale kitchen remodels, which range from $75,000 to $100,000-plus.\u00a0<\/span><\/p>\n Photo: James Bombales, design by\u00a0Cynthia Soda<\/a><\/em><\/p>\n It\u2019s relatively easy to calculate the total price of all the materials and fixtures that will be used in your dream bathroom, but the cost of labor can vary widely. \u201cLabor can account for over one-third of your total cost,\u201d reads the report. \u201cIn recent months, a labor shortage appears to be <\/span>driving labor costs up<\/span><\/a>.\u201d<\/span><\/p>\n Photo by\u00a0Markus Spiske<\/a>\u00a0on\u00a0Unsplash<\/a><\/em><\/p>\n While your new construction home may come with a washer and dryer, it might not come with a deck or patio. If you\u2019re looking to hire a contractor to build a new deck, be prepared to shell out some serious cash. Respondents to the survey underestimated this cost by about 35 percent.<\/span><\/p>\n Photo: James Bombales, design by\u00a0Sara Bederman<\/a><\/em><\/p>\n While it\u2019s true that refacing kitchen cabinets instead of replacing them will save homeowners thousands of dollars, the project is significantly more expensive than what most are lead to believe. According to the report, \u201cCabinet refacing is thought to cost 74 percent less by survey respondents than the actual average cost.\u201d Consider <\/span>these DIY methods<\/span><\/a> if you\u2019re looking to makeover your kitchen cabinets for less.<\/span><\/p>\n Photo: James Bombales<\/em><\/p>\n Americans are addicted to air conditioning \u2014 one <\/span>survey<\/span><\/a> from 2015 found that 90 percent of households have some sort of air conditioning, whether it be a window unit or a central air system. While the installation will set you back more than $5,000, the unit may cost nearly as much. <\/span>ImproveNet<\/span><\/a> says a 2.5 ton air conditioner (suitable for a 1,600-square-foot home) costs between $3,000 and $4,000 \u2014 that\u2019s a home service bill with absolutely no chill. <\/span><\/p>\n According to a new survey, homeowners underestimate the cost of home improvement projects by an average of 34 percent.<\/p>\n","protected":false},"author":12,"featured_media":195749,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2019-09-17T19:22:16Z","apple_news_api_id":"ec26d0c7-7057-444d-9418-673ed730f704","apple_news_api_modified_at":"2019-09-17T20:29:12Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAQ==","apple_news_api_share_url":"https:\/\/apple.news\/A7CbQx3BXRE2UGGc-1zD3BA","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11118],"tags":[11113,11152,11158],"coauthors":[8647],"apple_news_notices":[],"yoast_head":"\n1.\u00a0Kitchen remodel<\/strong><\/h2>\n
Expected cost: $10,388<\/strong>
\nActual average cost: $19,920<\/strong><\/h3>\n<\/a><\/p>\n2. Bathroom remodel<\/b><\/h2>\n
Expected cost: $6,371<\/b><\/strong>
\nActual average cost: $9,274<\/b><\/strong><\/h3>\n<\/a><\/p>\n3. Deck construction<\/b><\/h2>\n
Expected cost:\u00a0$4,499<\/b><\/strong>
\nActual average cost: $6,919<\/b><\/strong><\/h3>\n<\/a><\/p>\n4. Cabinet refacing<\/b><\/h2>\n
Expected cost: $1,766<\/b><\/strong>
\nActual average cost: $6,692<\/b><\/strong><\/h3>\n<\/a><\/p>\n5. AC installation<\/b><\/h2>\n
Expected cost: $3,047<\/b><\/strong>
\nActual average cost: $5,233<\/b><\/strong><\/h3>\n<\/a><\/p>\n