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The '30% rule' isn't a standard industry guideline for remodeling projects. It may refer to a specific, informal rule of thumb a contractor or homeowner uses, perhaps related to budget allocation for certain elements. It's best to discuss your specific project costs directly with a professional for accurate budgeting.

While often used interchangeably, renovating typically means restoring something to a good state of repair or making superficial updates. Remodeling usually involves more significant changes, like altering the layout or structure of a room or home. Both can enhance your living space.

It might cover significant updates in smaller homes or specific areas like kitchens and bathrooms. For a full gut renovation of a larger home, it may be insufficient. A free estimate will clarify your options.

This is a complex question with no single answer. Buying a new house involves closing costs, moving expenses, and the purchase price. Remodeling an existing home involves material and labor costs, but can sometimes be more cost-effective if you already own the property and the desired changes are substantial. Get quotes for both scenarios.

Similar to the remodeling rule, a '30% rule' for renovations isn't a widely recognized industry standard. It might be a personal budget strategy. For accurate cost assessments on any renovation, it's essential to get detailed quotes from licensed professionals who understand your specific project needs.

However, the exact cost is always project-specific. It’s crucial to get a detailed estimate from licensed pros to understand what this budget can achieve for your home.