There are many different ways to go about a renovation. Some people prefer to hire professionals, while others tackle the job themselves.
Either way, there are plenty of resources online to help homeowners learn how to complete small and large projects and answer the question, “how much does a renovation cost?”
In this article, we’ll take a deep dive into the costs associated with renovating a home in Melbourne. Whether you are looking at a whole house, just a bathroom, the cost of labour and how to save money when renovating, we will touch on it all.
What Is the Cost of Renovating a House in 2022?
Time, money, sweat and patience – the full cost of renovating a house in 2022 is staggering for many, or a walk in the park if you have the budget.
But what are those costs, and how are they broken down? Let’s take a look.
Cost of renovating a full house
A major renovation costs anywhere from $20,000-$300,000, depending on what type of work needs to be done.
A complete home renovation’s extent of work depends on the type of house, number of rooms that need to be renovated, client’s budget, and overall objective.
If you were to look up ‘renovation costs Melbourne’, you would be hard-pressed to find area-specific numbers.
However, overall in Victoria, the average renovation costs land around $71,000.
Consulting a registered building practitioner will help you guide through a full house renovation cost Melbourne.
Cost of renovating a kitchen
In Melbourne, the cost of mid-range kitchen makeover is around $20,000 to $45,000.
$45,000+ is the typical price for luxury kitchen renovations.
However, these are merely ballpark figures, and other elements like kitchen size, material costs, and the style of renovation—a brand-new kitchen in a new house or an addition to an existing home—must be considered.
Cost of renovating a bathroom
The costs of renovating your bathroom can be high, but the price will largely depend on what you’re changing.
For instance, a complete bathroom remodel, with a clawfoot tub, rainfall shower, “his and hers” vanities, and enough storage for a small army, will cost more than a simple paint job and a few new tiles here and there.
Here is a breakdown of typical bathroom renovation prices to help you create a budget:
- Cosmetic: $5,000 to $15,000
- Mid-range: $15,000 to $30,000
- High-end: $30,00o or more
Cost of renovating a living room
Renovating a living room averages between $10,000 and $45,000, but this depends on the scope of work.
New furniture, wallpapering or painting, altering fixtures like windows and doors, and frequently removing dividing walls to create an open concept space are typical projects for a living room renovation.
What’s at stake:
- Elimination of load-bearing walls (for an open-plan space)
- Updating the lighting and outlets
- Rugs and a brand-new coat of paint
What Are the Costs Involved in Renovating a House?
Overall, the undertaking of a full house renovation can see prices heading sky-high before you know it. However, you can break down the basic focus of these expenses into three parts: labour, materials, and the space you are renovating.
Labour cost usually takes up a large chunk of your overall renovation budget. But the following numbers are only averages and may not cover all work involved. Some of the labourers needed for a site (depending on the scope of work) can include:
- Cabinet maker/joiner
- Landscaper (if renovation includes outdoor space)
The above labourers can include more or less, depending on the size of the renovation and trades needed.
The materials you need for a home renovation project vary, from tiles to paint, lighting to heating lines, and bathroom fixtures.
The spaces in your house can also affect renovation costs.
Kitchen: cosmetic vs. full remodel
Although a cosmetic kitchen renovation can be far less expensive, it typically doesn’t contribute much to utility or contemporary conveniences.
A kitchen remodel (or complete redesign) costs more than a small upgrade, but it gives you a chance to tailor the room to your unique needs and incorporate a layout that honours the kitchen as the actual centre of the home.
A modern kitchen renovation can involve updating the area with new cabinets, benchtops, splash-backs, and technological additions like digital fixtures and appliances that will transform the room into a high-end kitchen.
Bathroom: basic or major
Maybe you like the layout of your bathroom but would like it to have a more contemporary appearance. In that case, you might consider applying a fresh coat of paint, altering the mirror, or installing new tiles.
You can also have a smaller range of options for products. In other words, you might have to pick “generic” bathroom tiles, bathroom screens, or a somewhat affordable sink. But for up to $15,000, you may still update your bathroom.
You can renovate a fairly basic bathroom for between $15,000 and $30,000, including more expensive tiles, nicer shower screens, and possibly a little plumbing or electrical work.
Once you reach the $30,000 threshold, a major bathroom renovation project will likely be in your future. This implies that you can change the current electrical and plumbing systems.
You can also relocate your sink, shower, or anything else you want if you have the money.
Living rooms are the second most frequently renovated room after kitchens, making them more accessible to renovate than other rooms. For homes larger than 10 square meters, a basic remodeling can cost anywhere from $10,000 to $30,000 for large-scale renovations.
How to Save Money When Renovating
A full house renovation will set you back, so be prepared to start in the thousands. Here are some tips to help you keep your house renovation cost down while still getting the work done properly.
1) Use more affordable materials
Instead of splurging on high-priced materials, why not use affordable ones? For example, swap marble with laminate flooring or ceramic with quarry tiles.
You don’t have to compromise on the aesthetics but changing materials can save you a lot of money.
2) For low-impact upgrades, go generic
For instance, you have alternatives starting at $30 and going up to $3000 if you want to replace a flick-mixer in the kitchen sink.
The expensive matte-black $1500 flick-mixer is frequently just as reliable and aesthetically pleasing as the mid-range $200 alternative, and the property’s value and appeal remain the same.
3) Use colour to stand out
One of the cheapest but most effective methods to change a room’s appearance and feel is to repaint it in a contemporary colour.
4) Hire professionals
If you’re a newbie at home renovations or not a keen DIY-er, we suggest you hire professional tradespeople.
While doing it yourself has its appeal and satisfaction, there are many areas you should trust professionals.
Plus, they can keep you from making costly mistakes that you’ll have to spend more money repairing or replacing.
What Are the Benefits of Renovating Your House?
Renovations can be a smart and strategic method to create growth and improve the aesthetics and utility of your home or investment property.
The advantages of house renovations include the following:
- A well-done makeover can increase your property’s charm and value.
- There are added conveniences to enjoy. You can transform a drab home into your ideal home by redesigning the garden into an entertainer’s paradise or upgrading the small, cramped kitchen into the perfect chef’s haven.
- It’s less expensive than looking for a new house. Instead of relocating, invest in your own home.
Your renovation cost estimate will be different based on the sort of property you own, its size, its location, the characteristics it already has, and other factors.
Feel free to reach out to us at Melbourne Home Renovations for a free consultation and to answer any further questions you may have.