Home inspectors when I've sold houses before, note when things are not to code and with our previous minor issues (like a hand rail being too thin?), they don't prevent the sale of the house, they just alert the buyer. Anyways, not concerned about this specific picture's accordance to code, just looking for the cost estimate. Palimpsest - thanks! That's what I was estimating in my head, great to know!!!

Be sure to sell or give away that beautiful old railing and not throw it on a heap. I happen to like it. But indeed, it might look better in black. The railing you have posted instead gave me some shudders. Quite a contrary style and not one I'd welcome in my home. Way too modern for a ranch home, is what comes to my mind. If you are really going to get a new railing, I like the one Judy proposed, although I wouldn't want it in white at your place. Perhaps in black and the railing that matches the wood of the stairs? Or maybe something like this?

Not at home now, but here are the rustoleum colors. I used the bottom right bronze. The top left is the oil rubbed bronze, it is the darkest. If you went with that color it would probably mesh well with black. The lighter bronze is more neutral, and is my favorite. Rustoleum makes regular paint in cans as well as spray. Though I think the spray gives a better finish than a brush or roller. The cost is probably worth it. If you are feeling particularly handy, or if Dad is helping, why not look into renting a paint spray set up. Prep your railings then mask and drop cloth everything well before you paint. If you have bare metal you surely need to prime. But I did not prime my lamp or frame, just a thorough cleaning and light sanding and cleaning again to remove dust. I'm sure priming would be a good idea, of course. The paint I used was supposedly paint&primer in one.

I would contact a stair company and see what can be done withing your budget . Lighting is IMO more important to start with so a good electrician can do wonders for more lighting. I would also suggest LEDs in 4000K for all of the lighting you do,Before opening that wall up for a railing think about the space above and how it is used and by whom. If this is walkway from bedrooms to bathroom you might no want it opendepending on who lives in the home. I know how badly people want to do something to make a home theirs but you need to stop and live in the space for a while before doing anything major and if this stairway is a big deal for you then forget wall paint color for now. The pot lights in the kitchen are an easy start to improving lighting so change all those bulbs to LED 4000K you will instantly see a big difference in the amount of light there.Then tackle the flooring and have a plan for that since carpet is IMO not a good choice. A new house is always fun to tackle but you need a very good plan before doing anything.