If you have started the new year filled with ideas and inspiration for your new home renovation, but don’t yet have a clear picture of how much it will cost to bring your vision to life, then you have come to the right place.
But first things first. We need to talk about professional renovations versus DIY projects. At first glance, engaging a full-service professionally managed renovation company may seem like the more expensive way to renovate. But once take a closer look, you’ll soon discover than handling a complex renovation on your own can cost you more money and headaches in the long run.
The key to achieving a successful renovation that will last for years and add real value to your home lies in the expert planning and management of all the project stages. From coming up with innovative and cost-effective design ideas to scheduling and managing multiple trades and sourcing the perfect materials, there’s a lot that needs to be orchestrated before the first tile is even installed. With small setbacks often having a flow-on effect, every decision needs to be carefully made to avoid preventable delays or to blow your entire budget too early.
We understand that renovations can feel overwhelming to almost everyone who is not an expert in the field and that sometimes this is what holds people back from taking the leap and making their dream bathroom or kitchen a reality. So, if the prospect of handling a renovation while managing your responsibilities fills you with dread, know that you’re not alone. As seasoned experts, we’re equipped to seamlessly handle renovations of all sizes, ensuring your budget is effectively used at every stage of the process.
With this in mind, we sat down with Interior designer Hannah Kidd to get an accurate idea of how much a professionally handled renovation costs in 2021.
“While there’s no one-size-fits-all answer to this question, you should budget at least $35,000 for a professionally managed bathroom renovation,” says Hannah. “This includes everything from the design, demolition, trades, fixtures, fittings, cleaning and all the intensive scheduling and managing that goes on behind the scenes.”
For larger-scale projects, expect to set aside $45,000 and above. “Covering more square metres, doing structural work like tearing down walls or moving plumbing points, and adding luxury inclusions all add up when it comes to the final cost of your renovation” Hannah explains.
We expect to continue to see an increased interest in smart hygiene solutions in 2021, with clients wanting to know more about smart toilets, touchless taps and anything that would help them keep their homes as sanitary as possible. Thanks to COVID-19, running out of toilet paper and being extra mindful of cross-surface contamination are relatively new concerns for many of us, so many clients are choosing to address these issues more efficiently. If this resonates with you, “it is worth considering saving a bit extra for upgrades like smart toilets and sensor taps, so there’s less touching in the bathroom” says Hannah.
‘For a small-scale kitchen project, $35,000 is the starting point’ says Hannah. This includes design, demolition, trades, and materials and fixtures of a more affordable range.
‘Around the $55,000 mark you can start considering changes to the layout, relocation of electrical and plumbing, smarter storage solutions, and extras like new flooring as well as more complex cabinetry options’ advises Hannah.
In 2021 we’re seeing many clients allocating additional funds to their kitchen renovations, as recent lifestyle changes imposed by the pandemic have made this room a busy activity hub for the whole family.
“With so much time spent in our kitchens, it’s worth considering luxury upgrades like a walk-in pantry, and smart storage solutions to keep things accessible and tidy.” says Hannah.
Plumbing: High-quality plumbing work is a must if you want your bathroom and kitchen to stand the test of time, so this is an area where you don’t want to skimp. Moving plumbing points from their original location or installing additional elements, such as a separate overhead and hand showers in the bathroom of plumbed fridges in the kitchen, will make plumbing costs go up.
Joinery: Cabinetry costs will depend on the complexity of the job and the quality of the finishes. Including drawers instead of cupboards has a higher price, so do timber veneer finishes instead of more affordable options like laminates. If you’re on a tighter budget, it’s worth considering downgrading the cabinetry finish favouring a more complex, functional design. Your designer is invaluable in this area to recommend the best solution to suit your home and budget.
Tiling: Generally speaking, tiling is a significant cost for bathrooms, but not so much in kitchens. The higher your bathroom walls, the more surface you’ll need to cover, meaning more materials and more labour to get them installed. But keep in mind that tiling from floor to ceiling is not always the best way to go. Strategically laying tiles on the right places can give those on smaller budgets the wow factor without breaking the bank.
Labour: Bathrooms are very labour-intensive little rooms, with 70% of the overall cost going to trades and labour involved in creating the new space, with the remaining 30% allocated to materials and finishes. The opposite is true for kitchen renovations, with most of the budget going to materials, fixtures and fittings.
“Overall, a good rule of thumb is to allocate 5 to 10% of your home’s value into your renovation, this includes wet areas like the bathroom, kitchen, and laundry,” says Hannah.
When budgeting for a renovation, thinking long-term instead of short-term is critical. In the long run, trusting your renovation to a professional ensures you make the most out of your budget while achieving a high-quality results that last for years.
If you want to know how much your professionally-managed renovation would cost, booking your FREE in-home consultation with a member of our design team is a great place to start!