How Much Does a House Renovation Really Cost?

House renovation costs can be a mystery for many homeowners. At Cameron Construction, we’ve seen countless projects and understand the complexities involved in estimating expenses.

This blog post will break down the factors that influence renovation costs, provide insights into room-specific budgets, and highlight potential hidden expenses. By the end, you’ll have a clearer picture of what to expect when planning your home transformation.

What Drives Renovation Costs?

Project Scope and Complexity

The size and complexity of your renovation project significantly impact costs. A simple room refresh costs less than a full-scale home transformation. Updating a kitchen with new appliances and benchtops might cost $10,000 to $45,000+, while a complete home renovation could range from $100,000 to $500,000 (or more).

Material Quality and Finishes

Your choice of materials and finishes can dramatically affect your renovation budget. High-end materials like marble benchtops or custom cabinetry increase costs substantially compared to more budget-friendly options. For example, laminate benchtops might cost $20 to $50 per square foot, while natural stone could range from $40 to $200 per square foot.

Regional Labour Costs

Labour costs vary significantly across different regions. In metropolitan areas like Melbourne, skilled tradespeople often command higher rates than in rural areas. Recent data shows that kitchen renovations can cost between $10,000 to $45,000+, while bathroom renovations range from $10,000 to $35,000+, according to Budget Direct.

Structural vs. Cosmetic Changes

Structural changes, such as removing walls or adding extensions, typically cost more than cosmetic updates. These projects often require additional permits, engineering assessments, and more extensive labour. A garden or deck renovation could cost anywhere from $2,000 to $10,000+, depending on the size and complexity of the project.

Pre-Renovation Assessment

A thorough assessment of your property before starting any renovation project helps identify potential structural issues early on. This allows for more accurate cost estimations and prevents unexpected expenses down the line. Many homeowners overlook this step, but it’s crucial for a smooth renovation process. Preliminary cost estimates are often the basis of financial feasibility and budgeting decisions at the early stages of planning.

While it’s tempting to cut corners to save money, investing in quality materials and skilled labour often pays off in the long run. It ensures a renovation that not only looks great but also stands the test of time, potentially increasing your property’s value.

Now that we’ve covered the main factors influencing renovation costs, let’s break down specific expenses for different rooms in your home.

Room-by-Room Renovation Costs

Kitchen Renovations: The Heart of Your Home

Kitchen renovations often top the list for most expensive room makeovers. With costs ranging from $22,000 to $45,000, you can expect to see significant improvements in both functionality and aesthetics. This wide range stems from factors like cabinetry quality, appliance choices, and benchtop materials.

Laminate benchtops cost about $200 per square metre, while natural stone can reach $1,000 per square metre. Custom cabinetry typically accounts for 40-50% of the total kitchen renovation budget. To save money, consider refacing existing cabinets instead of replacing them entirely.

Bathroom Renovations: Small Space, Big Impact

Bathroom renovations in Australia generally range from $10,000 to $35,000. The cost varies based on the size of the space and the quality of fixtures and finishes. Tiling alone can consume 40% of your bathroom budget, so choose wisely.

A cost-saving tip: keep plumbing fixtures in their original locations. Moving a toilet or shower can add thousands to your renovation bill due to additional plumbing work. Also, consider water-efficient fixtures – they might cost more upfront but can reduce your water bills in the long run.

Living Areas and Bedrooms: Comfort Meets Style

Living room and bedroom renovations typically cost less than kitchens and bathrooms, ranging from $2,000 to $10,000 per room. These spaces often focus on cosmetic updates like painting, flooring, and lighting.

Flooring can significantly impact your budget. Carpet might cost $30-$100 per square metre, while hardwood flooring can range from $60-$300 per square metre. Quality flooring can enhance your home’s value and reduce future maintenance costs.

Basement and Attic Conversions: Hidden Potential

Converting a basement or attic into liveable space can transform your home. These projects typically range from $20,000 to $70,000, depending on the existing condition of the space and your desired outcome.

Basement conversions often require waterproofing. Homeowners typically spend between $2,500 and $5,000 for standard damp proofing treatments. Prices can range from $70 to $120 per linear metre. For attics, insulation is essential – expect to spend $1,500-$3,000 on proper insulation to ensure year-round comfort.

Hidden Costs to Consider

While planning your room-by-room renovations, don’t forget to account for potential hidden costs. These can include permit fees, temporary living arrangements during extensive renovations, and post-renovation touch-ups. A good rule of thumb is to set aside 10-20% of your total budget for unexpected expenses.

As we move forward, it’s important to understand that while room-specific costs provide a good starting point, every renovation project is unique. Let’s explore some of the hidden costs and unexpected expenses that can impact your overall renovation budget.

Hidden Costs and Unexpected Expenses in Home Renovation

Permit Fees and Inspections

Many homeowners overlook permit fees when budgeting for renovations. In Melbourne, a building permit can cost approximately $120 – $140 depending on your council. Planning permits for structural changes or extensions might add additional expenses to your project.

Inspections also contribute to hidden costs. You’ll need multiple inspections throughout your renovation, each adding to your expenses. For a major renovation project, you should budget for several inspections.

Unforeseen Structural Issues

Once renovation work begins, surprises often emerge. Asbestos removal is a common issue in older homes. The cost ranges from $50 to $150 per square metre, depending on the size of the job. A full house asbestos removal can be a significant expense.

Electrical rewiring presents another potential hidden cost. If your home’s wiring doesn’t meet current standards, you might need to allocate additional funds for a complete rewire of an average-sized home.

Temporary Living Arrangements

Extensive renovations might require you to move out temporarily. Short-term rentals in Melbourne can add to your budget for accommodation.

If you stay in your home during renovations, consider the cost of takeout meals when your kitchen is out of commission. Eating out for a family can add to your daily expenses.

Post-Renovation Work

After the main renovation, you’ll likely need to address surrounding areas. Landscaping costs can vary widely depending on the scope of work.

Window treatments often get overlooked in initial budgets. New curtains or blinds for a whole house can be a significant expense, depending on the quality and style you choose.

We at Cameron Construction always advise our clients to set aside 15-20% of their total budget for these hidden costs. This buffer can help prevent financial stress and ensure your renovation project stays on track.

Final Thoughts

House renovation costs depend on various factors such as project scope, material quality, and labour expenses. You should allocate 15-20% of your total budget for unexpected costs to avoid financial stress during the renovation process. Detailed planning and realistic expectations will help you navigate your renovation journey more smoothly.

Professional guidance can significantly improve your renovation experience. Cameron Construction offers expertise in design, engineering, and interior advice to align your renovation with your vision. Our team strives to deliver projects on time and within budget (while maximising functionality and aesthetics).

A well-executed house renovation will increase your property’s value and enhance your living experience. You can transform your house into your dream home with the right approach and professional support. Contact Cameron Construction today to start your renovation project with confidence.