How much do the 'finishes' affect the price of a major renovation?
TLDR: Is it possible to get the 'look' without having to spend money on tile flown in from Italy, wood hand carved by an artisan (exaggeration)? If yes, how much of a percentage drop do you think it would be to the total cost of the renovation between finishes that are a step or two above builder grade vs the best of the best?
Sorry for such a broad question, let me explain. We are due for a major renovation. My parents purchased this home in the 90s (built in the 70s) and it has never been properly remodeled since. We have money saved up for this remodel but may have underestimated how much we should have saved, for the kind of transformation we are hoping for. I follow a local design & build construction company on social media, and saw what they did a similar home (built in the same era, dated), it was an incredible transformation. They were generous enough to share that the client spent $750/sq ft though, I don't think we would ever be able to afford that even if we saved for the next decade. I'm assuming that homeowner chose the most expensive finishes and the best of the best, because it definitely turned out like they did.
I am not expecting to pay 40% less and have an identical result but I am curious, what if they chose the same design BUT with more affordable grade of finishes, how much lower that $750/sq ft would have been instead
Edit: We only have enough for a $200/sq ft ($350,000) remodel here on the inland side of Orange County, CA. We're hoping this can allow us to get more than just paint and new floors, but after hearing the $750/sq ft figure...we're not sure anymore