How much does it cost to renovate a home?

How much does it cost to renovate a home? Wow! What a big question. But it is also a really good question.

The easiest way to answer is to say it depends on your plans, it depends on the size of the job and it depends on the choices you make along the way. But that is not a particularly helpful answer for someone planning a home renovation.

Hanson Building has found that the most helpful way we can answer that question is with some excellent information that Archicentre Australia publishes each year.

In its annual cost guide, Archicentre Australia provides a breakdown of the cost of renovations.

In 2021, the Archicentre guide suggested budgeting $900 -$2800 per m2 of renovated areas for a shell room, eg. a bedroom or living areas. For wet areas, like bathrooms and kitchens, the Archicentre guide recommended budgeting between $12,000 - $27,000 for a bathroom and $15,000 - $43,000 for a kitchen, excluding appliances.

This is a guide and there are a lot of factors that can affect the price, such as the presence of asbestos in the existing property, the need to upgrade plumbing or electrical and your own choices and preferences.

After years in the business of renovating and extending homes for families across Melbourne’s eastern suburbs, we have some tried and tested tips for keeping budgets under control.

(1)    Make sure you are honest and upfront with your budget from the start, particularly if you are seeking plans from an architect or draftsmen. Your designer needs to know exactly how much you have to spend before drafting plans.

(2)    Make sure your budget factors in the cost of the build, as well as the cost of fittings and fixtures, like tiles, window and floor coverings and landscaping.

(3)    You need contingencies in your budget. There will almost always be unforeseen costs – maybe you want to change the plans slightly half-way through? Maybe you find water damage under an existing area that you were not aware of and that needs to be fixed to progress? Maybe the flooring you wanted is no longer available and your next preference is more expensive? Having a contingency fund will help cover those small, unforeseen issues.

Rest assured though, if you get a quote from Hanson Building for your home renovation, the quote we give you will reflect the actual cost of your project. Our quote is your price.

For more information, get in touch with Hanson Building via the contact form.