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Home Renovation Costs and Tips for 2024

January 9, 2024

Key takeaways:

  • Planning and budgeting form the core of a successful home renovation.
  • Room-by-room renovation tips, focusing on design, functionality, and cost.
  • Contractor selection is crucial, emphasizing their experience and reputation.
  • Final touches in interior design and landscaping greatly enhance a home’s appeal.

Starting a home renovation? It’s a great chance to show your style. Plan your budget and design choices carefully.

Australia has lots of renovation ideas for any room or the whole house, suited to our lifestyle and climate. Remember, a balance of style and functionality is key in making your renovation last.

Having a step-by-step guide to renovating your home can make the whole process easier, more enjoyable, and less stressful. Let’s get started.

Planning Your Renovation

Effective planning is the foundation of a successful home renovation. It helps you align your desires with your budget and ensures a smooth process when engaging with contractors and planning a layout.

Setting a Budget

Your budget will steer the course of your renovation, directly influencing the scale and quality of the finished project. Begin by evaluating your finances to determine how much you can comfortably afford to spend.

Then, request detailed estimates from multiple contractors for a comprehensive understanding of potential costs. Remember to include a contingency fund for unexpected expenses.

  • Initial Budget Consideration:
    • Assess current finances.
    • Obtain multiple contractors’ quotes.
    • Allow for a 10-20% contingency fund.

Design and Layout Considerations

The design and layout of your renovation should reflect both your personal style and practical lifestyle needs. Consider the flow of the space, storage solutions, and the quality of materials.

You may want to consult with a designer to help bring your vision to life and ensure that your plan complements the existing structure of your house.

  • Design Focus Points:
    • Personal aesthetic and practical functionality.
    • Space optimisation.
    • Material quality and durability.

Selecting a Contractor

Choosing the right contractor is essential for achieving the renovation that you envision. When evaluating contractors, consider their certification, experience, previous work, and reviews. Specifically, look for contractors with a strong track record in the type of renovation you’re planning.

Always obtain multiple bids to compare and ask for a step-by-step guide on how they plan to manage your project.

  • Contractor Checklist:
    • Verify licenses and insurance.
    • Review portfolio and references.
    • Compare bids and timelines.

Room-by-Room Breakdown

Here’s a straightforward guide to what you might consider for each space in your home, ensuring no detail is overlooked.

Kitchen Revamp

Your kitchen is the heart of the house and updating it can greatly impact your home’s value and functionality. If you’re considering a kitchen renovation, focus on:

  • Design & Layout: Aim for a practical workflow with the oven, fridge, and sink forming a work triangle.
  • Appliances: Choose energy-efficient models to save on bills.
  • Materials: Use durable countertops and cabinetry that can withstand daily use.

Average Cost of Kitchen Renovations

Size of KitchenAverage Cost (AUD)
Small$10,000 – $25,000
Medium$20,000 – $40,000
Large$35,000 – $70,000+

For accurate prices relevant to your situation, you might want to refer to a comprehensive breakdown of renovation costs.

Bathroom Updates

Upgrading your bathroom can transform your daily routine into a luxurious experience. Key updates often include:

  • Fixtures: Replace taps, showerheads, and toilets with modern, water-efficient options.
  • Tiling: Select quality tiles that will endure moisture and wear.
  • Paint: Opt for mould-resistant paint in your choice of colour.

Average Cost of Bathroom Renovations

In terms of budgeting, a handy guide to bathroom renovation costs might be between:

AreaAverage Cost Range (AUD)
Small Bathroom$5,000 – $15,000
Medium Bathroom$10,000 – $25,000
Large Bathroom$20,000 – $40,000+

Bedroom Enhancements

A bedroom should be your sanctuary; renovating can make it a space where you love to rest and recharge. Consider:

  • Design: A theme that reflects your personal style.
  • Lighting: Invest in both ambient and task lighting.
  • Storage: Built-ins or walk-in wardrobes maximise space efficiently.

Average Cost of Bathroom Renovations

For a financial perspective, bedroom upgrades could range in costs similar to these figures:

Type of Bedroom RenoCost Range (AUD)
Basic Refresh$2,000 – $15,000
Complete Overhaul$15,000 – $35,000+

Living Area Improvements

Your living area is where you’ll entertain and unwind, so updates here should balance aesthetics with comfort. Your renovation could include:

  • Flooring: Hardwood, carpet, or tiles to suit your lifestyle.
  • Paint/Wallpaper: A fresh coat to brighten up the space.
  • Lighting: Layered lighting for mood and functionality.

Average Cost of Living Room Renovations

Living room renovation cost estimates typically fall into this range:

ScopeEstimated Cost (AUD)
Minor Changes$2,000 – $10,000
Major Modifications$10,000 – $30,000+

Referring to DIY tutorials can help you organise a home renovation, especially if you plan to tackle some of the work yourself. Remember that a clear spreadsheet can keep track of your budget and choices, ensuring you stay on top of the renovation costs and design elements.

Finishing Touches: Home Decor

When your renovation nears completion, the right finishing touches can transform your house into the dream home you envisage, with both interior design and landscaping playing integral roles.

Interior Design

By strategically selecting paint colours and coordinating them with accent pieces, you can add depth and character to your space. It’s important to incorporate colours that reflect your personal style and bring joy to your living environment.

  • Colour Coordination: Choose a base colour that sets the overall tone of your home, and use varying shades to maintain a cohesive feel. You can check out some easy finishing touches for your home renovation.
  • Maintenance: Regularly check for scuffs and chips. A fresh coat of paint can revive a room instantaneously.

Tips for Selecting Accent Pieces:

  • Consistency is key. Repeat elements of your chosen colour throughout the home with cushions, artwork, or rugs.
  • Consider the mood. Bright colours energise a space, while cooler tones can create a calming environment.

Landscaping and Outdoor Living

First impressions last, so enhancing your curb appeal with thoughtful landscaping and designed outdoor living spaces is integral.

Landscaping:

  • Plants: Select local flora that will flourish in your garden, requiring minimal maintenance while enhancing your home’s natural setting.
  • Pathways: Define walkways with pavers or stones to guide visitors and complement your home’s exterior.

Outdoor Living:

  • Furniture: Invest in quality, weatherproof furniture that encourages relaxation and enjoyment of your outdoor area.
  • Features: Adding a water feature or a fire pit can act as a focal point and elevate the overall ambience.

From painting to plant selection, every element serves to create a cohesive and welcoming atmosphere, both inside and out.

With the right interior stylings and an inviting outdoor setting, you’ll enhance not only the livability but also the appeal of your home.

Deep dive: Want to try your hand at house flipping? Read Soho’s guide to learn about the process, costs and tips.

FAQs on “Home Renovation”

What Does Home Renovation Mean?

Home renovation involves making cosmetic changes to improve a home’s appearance without altering its structural layout. Renovating can significantly increase a home’s value and functionality.

What is the Most Expensive Part of a Remodel?

The most expensive part of a remodel is often the kitchen. High costs arise due to the need for high-end appliances, custom cabinetry, and premium countertops, which are crucial for both functionality and aesthetics.

Is it Cheaper to Renovate or Rebuild?

The choice between renovating and rebuilding depends on the project’s scope. For small projects, renovation is usually cheaper. However, for extensive changes, a knockdown rebuild might be more cost-effective and can enhance home value significantly.

How Long Does it Take to Renovate a House?

The duration of a house renovation varies, but typically, a whole house remodel can last from 16 weeks (about 4 months) to 24 weeks (about 6 months). The timeline can extend if the project is more involved or encounters unforeseen delays.

Disclaimer: Images in this article may have been optimised using AI

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Our AI match engine will match you with over 150,000+ properties and you can swipe away or shortlist easily. Making your home buying journey faster and easier.