Renovation Cost Estimator

Converting a property to coliving involves costs that vary dramatically by region, property type, and renovation scope. In Western Europe, expect €600-1,200 per square meter for a full renovation, while in India the range is €100-300/sqm. Understanding these cost drivers helps you budget accurately and negotiate with contractors.

Property condition is the biggest variable. A shell structure (bare walls, no services) costs 4-5x more to convert than a move-in ready property that only needs cosmetic updates and furniture. Most coliving conversions fall in the "major renovation" category — existing structure with outdated plumbing, electrical, and finishes.

Hotel conversions are often the most cost-effective because the room infrastructure already exists. You're primarily updating finishes, adding common areas, and installing community-focused amenities. Warehouse conversions are most expensive due to the need for complete MEP (mechanical, electrical, plumbing) installation.

Always budget 20-30% contingency above your mid estimate. Renovation projects consistently run over budget, especially in older buildings where hidden issues (aging wiring, plumbing corrosion, structural concerns) are common. The total project cost should be recoverable within 24-36 months of operation for the investment to make sense.

Consider phased renovation if cash is tight: convert half the rooms first, begin operating, and use revenue to fund the remaining conversion. This approach reduces upfront capital needs and lets you test the market before committing fully.