According to general contractors from Sweeten, the service that matches projects with contractors, "...A good starting point to budget for a full-home remodel in NYC ranges from $100 to $200 per square foot (psf), .... These estimated costs per square foot are for the entire home (including materials) averaged across both “wet” spaces (baths and kitchens), as well as “dry” spaces (living rooms, bedrooms, offices, etc).
Here’s a breakdown of typical starting costs:
Full-home renovation in NYC: $100—$200 psf
Dry spaces: $30—$50 psf
Wet spaces: Baths start at $400 psf; kitchens start at $300 psf
Gut remodel with stock materials: $100—$200 psf
Non-gut remodel with stock materials: $100 psf
Gut remodel with customization: $200—$300 psf
Non-gut remodel with customization: $200 psf
Structural factors, extensive customization: $300 psf and up
Plumbing permits: up to $2,000 and as high as $5,000
Electrical permits: $900
Asbestos inspection: $500—$1,000"
It's important to think about your budget before you start down the road of a renovation, as most projects end up costing more than you expected. In addition, it's a good idea to get professionals on board as soon as you're contemplating a renovation, to try to head off unexpected issues that could arise with certain structural changes desired or materials you'd like to use. Budget an additional 15%-20% for an architect and/or designer. You may need an architect if you have to file permits with your municipality. You never know what you'll find behind a wall or a ceiling. So, be prepared. if well thought out and planned in advance, the end results are always worth the effort!