What Is Residential Development? Cost Estimation Guide
If you’re planning a home renovation or residential development, this article will walk you through how we arrive at final cost estimates. While there may be variations during the project, most of them are foreseeable and manageable with good planning. There are industry-standard values and budget ranges that can help guide your decision-making.
How Much Does a Small Apartment Renovation Cost?
1. Design and Layout Planning
Every project begins with the design phase, which guides all the steps up to final delivery. Depending on the complexity of your renovation, a full project design—including detailed 3D visuals for every space—can cost between 2,000 TL and 6,000 TL.
2. Technical Report (ART or RRT)
According to Brazil’s NBR 16.280:2015 standard, a Technical Work Report is required before, during, and after any significant home renovation. Any work that may affect a building’s safety must be approved and signed by a licensed engineer or architect, especially if done outside the warranty period. This ensures professional standards are maintained and discourages unqualified or amateur work.
3. Contracts and Cost Templates
After the planning phase, a contract is drafted with different execution models:
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Labor Only: The client provides all materials.
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Labor + Basic Materials: Contractor supplies basic, pre-defined materials.
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Turnkey Contract: Includes labor and all materials—client handles no purchases.
Construction management fees typically cost 7–10% of the total renovation value.
4. Pre-Construction Services
This includes:
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Demolition
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Removal of reusable materials
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Utility rerouting (electrical, plumbing, HVAC)
This phase usually accounts for ~7% of the total budget.
5. Structural Work
This phase includes wall reconstruction and placement based on the project. It’s a critical stage often overlooked, but necessary for accurate finishing later on.
This stage typically takes up ~13% of the total budget.
6. Infrastructure
Covers:
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Electrical systems
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Plumbing
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Automation
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HVAC
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Data and network systems
Due to complexity, licensed professionals are required.
Estimated at ~20% of the total budget.
7. Finishing
Covers:
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Painting
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Flooring
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Tiling
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Stonework (marble, granite)
Finishes vary widely in cost. For example, porcelain tile prices can range from 45 to 1,000 TL per m². Finishing typically takes the largest budget portion (~30%).
8. Final Touches: Carpentry and Storage
This is where custom cabinetry and storage elements are installed. Depending on your preferences (modular vs. bespoke), this phase may cost ~25% of the total budget.
Understanding Residential Renovation Pricing
The final cost depends significantly on material choices and design complexity.
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Basic Apartment Renovation: Starting at 600 TL per m²
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Premium, Fully Customized Projects: Up to 5,000 TL per m²
4 Types of Residential Renovation Projects
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Simple Makeover:
Fast, minimal-intervention updates. Timeline: 2–3 weeks. -
Standard Renovation:
Includes wall finishes, paint, and material updates without major structural changes. -
Customized Renovation:
Involves greater planning, support from an architect, and careful budgeting. -
Complete Overhaul:
Full-scale remodeling including woodwork, marble, and high-end finishes—often requires multiple specialized teams.
