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  1. Home
  2. Bedroom Renovations

How much does renovating a home cost?

Plus, the trick to getting your budget right - by Livia Gamble
  • 26 Apr 2018
How much does renovating a home cost?
Getty images

Whether it’s a new bathroom, kitchen or laundry, the key to any successful renovation is the budget.

A recent episode of the podcast, Kinderling Conversation, with Shevonne Hunt reveals the trick to getting your budget right.

“Quotes, quotes, quotes, quotes,” editor of Money Magazine Effie Zahos told Shevonne. “And then add on 10 or 20 per cent above the budget of what you thought because you will always blow it.”

Quotes will only get you so far, in some instances. A big problem many renovators face is hidden costs.

"A lot of the costs come in to play once you knock it down because you don’t really know what you are dealing with until you get it in there," said Effie.

A good place to start, however, is the Archicentre website, which has costing reports for each room of the house ready to download.

According to Effie, though, "They [the Archicentre] estimate a bathroom to cost anywhere between 10-25 thousand dollars, the kitchen between 12-30 thousand dollars and the laundry between 5-10 thousand dollars. And that doesn’t include your white goods."

As for which room to renovate first, Effie says an updated bathroom will add the most value to your home.

"The bathroom seems to be the one that gives you a better return…people look at bathrooms very seriously."

  

  

This article originally appeared on Better Homes and Gardens.

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Livia Gamble
Based in Sydney, Livia Gamble will not sleep until she has discovered every possible use of bi-carb soda and vinegar. When she isn’t reporting on ways to improve your home and garden, she can be found knitting socks (by choice) and will never say no to pizza.

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