Our time in isolation may have encouraged many of us to start thinking about a home renovation, and now that we are through the other side it is the perfect time to start. Whether you are planning to create your dream home or looking to boost the value of your home, it’s important to know not only how much to invest, but where to invest to maximise your homes potential. While we wish we could give you one straightforward answer as to how much a home renovation costs in 2020, the reality is there are so many factors to consider, from the number of rooms being renovated, room sizes, the quality of materials, fixtures and fittings selected, trades required, walls being moved and the height of those walls… you get the picture; the list goes on and on!
We sat down with Design Manager Vanessa Cook to get her expertise on navigating how much to invest in your Melbourne home renovation.
‘Your bathroom is one the busiest areas in your home and can drastically boost your homes appeal, which is why you want to be investing at least $30,000 into a bathroom project’ says Vanessa. ‘That would be your entry-level costs however if you want to undertake a larger scale project you can expect it would cost from around $45,000 and above’ she adds.
‘A bathroom renovation project starting at $30,000 will include the bathroom design, demolition of the existing space, supply and installation of new materials, fixtures and fittings with all required onsite trades and project management’ informs Vanessa.
Whether you sit around the $30k mark or the $45k+ will be dependent on a number of factors from whether any major changes are being made to the layout, if any walls are being knocked down, the amount of tiling, the materials and finishes selected for your cabinetry and benchtops and if you’re indulging in any luxuries such as underfloor heating or a double shower. The rule of thumb is to invest 5-10% of your home’s value into your bathroom.
‘We say it time and time again, this kitchen is the heart of the home – its sole purpose is no longer just for cooking but for entertaining, as well as acting as a work space and a central hub of activity for the entire family’ says Vanessa.
‘A small kitchen project will start from $30,000 however I recommend investing $55,000 or more to create a practical and stylish space that will appeal not only to your family but the market too’ says Vanessa.
‘To maximise on your kitchen space putting aside $55,000 will allow for the demolition of the existing kitchen space, and installation of new cabinetry, benchtops and a new splashback as changes to the layout, smarter storage solutions, new flooring, relocating the lighting and sink location, as well as additional cabinetry options’ advises Vanessa. The same rule applies here as the bathroom, you want to be investing 5-10% of your home’s value into your kitchen.
‘When comparing quotes its crucial not to base your renovation decision on the cheapest quote you obtain, as this may be indicative of the level of service provided’ Vanessa warns. ‘All of our clients are given a detailed quotation that explains exactly how much each project will cost, and why’ she adds.
Here’s are the main factors that will affect your final costs for your bathroom and/or kitchen renovation:
Plumbing costs: These costs will increase as you move plumbing points from their original location, or require the installation of additional elements, such as a separate overhead and hand shower.
Joinery: Costs can creep up quickly especially in your kitchen if your including drawers instead of cupboards for example or if you choose a more expensive finish such as timber veneer in your bathroom and/or kitchen. Keeping in mind it can also work the other way, if you need to take cost out of your kitchen down grading your cabinetry finish without compromising on your design is a great place to start.
Tiling: This applies particularly to your bathroom, as the higher your bathroom wall tiling goes the higher the price. Not only are you adding more and more tiles, but the labour involved in laying those tiles. This is another area you can go all out with floor to ceiling tiling to get an understanding of cost, and pair it back if budgeting requires you to do so.
Labour: As a general rule you can expect to invest 30% of your overall kitchen cost in the trades and labour required to demolish and install your new kitchen, the remaining 70% is made up in the materials, fixtures and fittings you choose. Whereas the opposite is true in your bathroom- 70% of your overall bathroom cost is in the trades and labour required to demolish and install your new bathroom, they are very labour-intensive little rooms. 30% of the overall cost comes from the tapware, materials and fittings you select.
Quite simply, it’s quicker, more economical and less hassle to undertake all of your renovation work at the same time. Having one company handle the whole process makes for a smooth renovation without delays, and doing everything at the same time means you have the same story throughout your newly renovated home. This means only one period of disruption to your family rather than multiple disruptions as one room is renovated after the other over a long period of time… you need to consider your sanity, living through a renovation (if you choose to do so) is no easy feat.
With the enticing $25,000 HomeBuilder scheme from the government that is still available, why stop at just renovating your bathroom and/or kitchen – does your laundry need updating? Or new timber floors throughout your home!
Vanessa’s last piece of advice is to invest in the services of a qualified project manager and expert tradespeople to ensure you receive high quality workmanship, with a result that will last. Kickstart your renovation by booking your FREE in-home consultation with a member of our design team, to work with you to cost out your dream renovation today.