Renovating your home is an exciting prospect – it’s about transforming your space into something new. But before you dive into your dream renovation project, there’s one big question you need to answer: how much is it going to cost?
Whether you’re thinking of a minor refresh or a complete overhaul, knowing the costs upfront will help you budget and avoid nasty surprises.
How Much Does a Full Renovation Cost in Australia?
A complete home renovation project can vary widely depending on the size of your home, the materials you choose and the extent of the work. Costs can also differ from city to city. But for a general idea, the typical cost of renovating ranges from $200,000-500,000.
For smaller projects, the average home renovation costs are about $4,000-50,000 for each room.
It’s a good idea to set a realistic budget that considers labour, material costs, and hidden costs.
A Breakdown of Home Renovation Costs
When it comes to renovating a house, it’s helpful to break down your costs by each room. Here is our breakdown of average renovation costs.
Living Room Renovation
The living room is the heart of the home, and when it comes to renovations, it’s where a lot of homeowners choose to splurge. Whether you’re installing new flooring and new furniture or updating your lighting, living room renovations can range from a few thousand dollars to $50,000. If you’re just repainting and installing new curtains, that number might be on the lower end. However, if you’re going for a new carpet, a fireplace, or a plush sofa, expect to pay more.
Don’t forget to factor in costs like electrical work, lighting updates, and wall treatments in your renovation budget as well.
Bathroom Renovation Costs
It might be small, but it’s one of the most important rooms in the house. Bathroom renovations can be costly. On average, you can expect to spend $500-25,000 for a basic bathroom renovation. For a full remodel, you might be looking at upwards of $30,000, depending on the finishes you choose.
The cost can depend on several factors:
- New fixtures, like toilets, showers and bathtubs
- Custom cabinets or vanities
- Tiling
- Plumbing and electrical work
If you’re on a tight budget, consider updating fixtures, upgrading lights, getting a new shower curtain, and adding a fresh coat of paint to save money.
Kitchen Renovation Costs
Kitchen renovations are often among the most expensive, ranging from $15,000-50,000. If you’re planning on knocking down walls to open up the space, installing high-end appliances, or adding custom cabinets, expect to pay a lot.
Budget-conscious renovators can reduce costs by keeping the existing layout, opting for more affordable countertops, or choosing off-the-shelf cabinets.
Bedroom Renovation Costs
Bedrooms are generally less expensive to renovate compared to other areas. For a simple refresh with new paint, flooring, and furniture, you might spend $1,000-15,000. However, if you’re dreaming of a luxurious master suite with walk-in closets, ensuite bathrooms, or custom-built storage, you might end up spending $20,000-50,000 or more.
The good news is that bedrooms often have lower labour costs than kitchens and bathrooms, as they generally don’t require plumbing or electrical work.
Garden Renovation Costs
Outdoor spaces are an important part of the Aussie outdoor lifestyle. The cost of renovating your garden can vary greatly, from simple landscaping or planting trees to installing an outdoor kitchen or pool. On average, you can expect to spend anywhere from $5,000-40,000 for a garden renovation.
If you’re planning on big additions, like adding a pool, that cost could easily exceed $50,000. Decking can run you between $10,000-30,000, depending on the materials used.
Structural Renovation Costs
Structural renovations are typically the most expensive type of house renovations. This could include removing load-bearing walls, adding new rooms, changing the foundations, or even restoring the roof. Depending on the complexity of the work, structural renovations could cost anywhere from $50,000-200,000 or more.
Don’t forget that structural work usually requires engineering reports, permits, and inspections, which can add to the overall cost.
Unexpected Expenses
No matter how well you plan, it’s always wise to set aside some extra funds for surprises. When renovating, you might uncover hidden issues, such as water damage, faulty wiring, or asbestos (especially in older homes). These building costs can quickly add up, potentially costing thousands of dollars to fix.
A general rule of thumb is to set aside 10-20% of your total renovation budget for unexpected costs. This cushion will help you cover any unforeseen expenses or repairs without blowing your budget.
How Do I Budget for a Home Renovation?
Saving for a full house renovation can feel overwhelming, but with the right approach, it doesn’t have to be.
- Assess the scope of your renovation: Identify which areas of your home need work and the extent of the renovation. Are you updating fixtures, or are you completely redesigning the space?
- Get quotes from contractors: Reach out to at least three contractors to get a good idea of labour costs.
- Account for materials and fixtures: Research the cost of materials and fixtures. Don’t forget to factor in delivery fees, installation costs, and disposal fees.
- Plan for unexpected costs: Set aside an emergency fund for unexpected issues.
- Stick to your budget: It can be tempting to add that extra rug or go overboard on custom features, but try to stick to your budget to avoid financial strain.
You can save costs by doing some work yourself if you’re into DIY projects.
Renovating Your Home
Renovating your home is an exciting adventure, but it’s important to remain realistic about costs. Whether you’re refreshing a single room or doing a full-scale makeover, it’s essential to set your budget and expectations.
While you might want to go all-in on luxury materials and high-end finishes, it’s important to balance your dreams with your budget to make sure the project stays within financial reach.
Home renovations in Australia can be a significant investment, providing lasting value and increasing your home’s appeal. From small upgrades to a major renovation, knowing what to expect financially will help you achieve your dream without the stress.
FAQs
What Is the Most Expensive to Renovate in a House?
Typically, the kitchen and bathroom are the most expensive rooms to renovate due to the high cost of plumbing, electric work, and quality finishes. Kitchens can get especially pricey if you’re installing high-end appliances or custom cabinets.
Is It Cheaper to Rebuild or Renovate?
In many cases, rebuilding an existing home can be more expensive than renovating. However, if your home requires extensive repairs or structural improvements, rebuilding might be more cost-effective in the long run. Renovating allows you to keep existing property structures, potentially saving costs.