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How to estimate the cost of a renovation

There are many reasons you might be embarking on a home renovation and when it comes to all of them the major thing to consider is the cost of a renovation.

There are many factors that contribute to the cost of your home renovation. According to the website Service Seeking minor renovations can start at $20,000 but full home makeovers can be up in the region of $300,000.

How much do renovations generally cost?

Obviously the renovation cost will depend on the scale of your renovation. If you are looking to upgrade an apartment this will cost considerably less than a 5-bed 3-bath house.

Kitchen renovations are generally the most expensive as you have to consider new appliances and fittings. According to Domain the average cost ranges from $10,000 – $45,000.

Bathroom renovations are up there with the most expensive, especially if you want to completely remodel your bathroom and move plumbing. Tiling can also be expensive if opting for mid-range to premium tiles, so the costs can vary dramatically. Domain calculates the costs can range from: $10,000-$35,000

Bedrooms and living areas can be the cheapest areas to makeover as a lot of upgrades are cosmetic. For as little as $2,000 you could give one of these areas a serious facelift. New paint and carpets can transform a bedroom and lighting fixtures and fittings can make a living area look brand new.

How to prepare for a home renovation

  1. Think it through. Renovations shouldn’t be a quick decision, they should be well planned and thought through before they start. Make a list of the things you want to achieve from your renovation and get itemised quotes for all of these elements. That way you can work through this list with your budget and see what is necessary and what can wait until later.
  2. Get multiple quotes. Don’t necessarily go with the cheapest quote, or the most expensive. Research your renovator; look at their testimonials, pictures of their work, Social Media pages.
  3. Go window-shopping. Window-shopping at DIY stores can give you a good indication of the cost of materials to use for the renovation. You can even choose the materials you wish to use and suggest these to your builder.

Home renovations can and likely will cost thousands but they can add significant value to your home!

How much you want to spend will depend on whether you are renovating to sell or to live in. If you are renovating to sell you may want to opt to just renovate to give a facelift to your home whereas if you are planning on living in the property for years to come you may spend more to ensure the end result is your dream home.

Considering the scope of the cost variations you want to ensure that you have budgeted for your home renovation before you start making any changes. A professional such as AMS Property Renovations can offer an obligation free estimate; check out their cost calculator here and contact them to discuss your dream renovation in more detail.