As an architect, the sad news I often have to give to clients involves money. No one likes to think about how much things will cost when they're dreaming of new renovation to their home, but its an unfortunate reality.
But most homeowner's don't have a realistic measure of what things will cost when they are dreaming away, and that makes the sticker shock of contractor's price all the more painful. Especially when it comes to what Architects call "MEP" work. Mechanical, Electrical, and Plumbing... it's the stuff that makes your house WORK, but its behind the walls or cabinets or in the basement so it doesn't get much attention in the dreaming phase.
To that end, here's a brief synopsis of where your dollars will go when it comes to the real MEP nuts and bolts of a renovation.
In order of costs, high to low...
P is for Plumbing-
Moving plumbing fixtures, anything that requires water, hot and/or cold, and waste lines (where the water goes once you've mixed it with the dirty stuff) is probably the most expensive. This is for several reasons: Pipes are rigid and have to be connected at specific angles and pitches, so the work of getting them through a wall, floor, or tight space is tricky. Plumbers are one of the highest per hour laborers, and justifiably so, because even the most experienced has to deal with a good bit of trial and error on connections.
Plumbing fixtures themselves are expensive, and copper and cast iron aren't exactly cheap metals for pipe. More and more municipalities are allowing PVC piping for various purposes, and some are even allowing flexible piping such as PEX.
Another thing to consider here is that waste lines are significantly bigger, harder to move, and more prone to problems with age. And of the big wet plumbing fixtures, your toilet and your shower or tub are going to be the most costly to move because the wasteline has to go straight through the floor, so you're often having to rip out flooring or the ceiling below.
M is for Mechanical-
Mechanical, which pretty much covers everything that delivers heat and cooling to your home can vary widely based on the system you're working with and the space that you've got to work with. If your heating system is supplied with hot water or steam, such as to radiators or radiant flooring, you're veering more toward the plumbing end of things and running into the same issues as above. If your heating system is with electricity such as electric baseboard heating or electric radiant flooring systems, you veer towards the Electric costs below.
But a lot of people have forced air systems, which can supply both heating and cooling in one package, delivered through ductwork. Ducts are BIG honkin things, and getting them through all the cavities and walls to the location you need presents many of the same challenges as plumbing. However, ductwork is easier to work with and you can often use flexible ductwork when you get near the end of a "run". (A "run" is the path from the heating/cooling unit, most likely in your basement, to the actual diffuser or grill that pushes the air into the room).
E is for Electric-
Wires are tiny. And they're easily cut and spliced together. With the exception of some appliances that need a lot of electricity, such as a refrigerator, or a microwave, (anything that makes things hot or cold, generally) a new supply outlet can often just be connected to an existing without going the whole way to your panel in the basement. Electricity is pretty easy to work with, even for the DIY home renovator, with some precautions.
We would caution though that the costs skyrocket when you get to moving the panels or breakers that are the first electrical items that distribute power from the municipality power lines coming into your home. Don't move them if you don't have to. (And don't do it yourself, most likely.)