The Real Cost of Renovating: What to Expect When Updating Your Home

When embarking on a home renovation journey, one of the most common questions I hear is, "How much will it cost?" The truth is, there's no one-size-fits-all answer. Renovation costs can vary widely depending on the scope of your project, the quality of materials you choose, and your location. However, I believe in transparency, so let's break down some realistic cost expectations for various aspects of home renovation. It's important to remember that these figures are estimates and can vary based on factors like the size of your space, the complexity of the work required, and regional price differences. Additionally, don't forget to factor in costs for labour, which can significantly impact your overall budget.

Flooring: The Foundation of Your Design

Flooring can set the tone for your entire space, and prices can range dramatically. For budget-conscious renovators, laminate or vinyl flooring starts at around $20 per square meter. Mid-range options like engineered timber might set you back about $140 per square meter. If you're aiming for luxury, premium choices such as parquetry or marble tiles can cost $300+ per square metre.

Lighting: Illuminating Your Space

Lighting is crucial for both functionality and ambiance. Budget-friendly downlights can be found for as little as $40 each, while mid-range options hover around $80. For those seeking a statement piece, premium pendant lights can range from $8,000 to $15,000 or more.

Kitchen: The Heart of the Home

Kitchens often represent a significant portion of renovation budgets. A budget-friendly kitchen renovation might total around $5,400 for major appliances and fixtures, while a mid-range kitchen could cost about $12,700. For a high-end, premium kitchen, you might be looking at $33,800 or more, especially when factoring in luxury appliances and finishes.

Bathroom: Your Personal Oasis

Bathroom renovations can also vary widely in cost. A basic bathroom refresh might cost around $7,150, covering essentials like a vanity, toilet, and shower. A mid-range bathroom renovation could total about $15,050, while a luxury bathroom with premium fixtures and finishes might reach $33,320 or more.

Living Room: Comfort Meets Style

Furnishing a living room can be done on various budgets. A basic setup including a sofa, chairs, coffee table, and decor might cost around $6,650. A mid-range living room could total about $31,000, while a high-end, luxury living room with designer furniture and art could reach $82,500 or more.

The Reality Check

When planning your renovation, I recommend:

1. Prioritising your must-haves and nice-to-haves

2. Setting a realistic budget with a 10-20% buffer for unexpected costs

3. Considering where you can save and where you might want to splurge

4. Getting detailed quotes from professionals before starting your project

Remember, a successful renovation isn't just about creating a beautiful space—it's about creating a space that works for your lifestyle and budget. Whether you're working with a modest budget or planning a luxury overhaul, careful planning and expert guidance can help you achieve the home of your dreams. I’m passionate about helping my clients navigate the complexities of home renovation. If you are on your own renovation journey I would love to help create a design plan that maximises your budget and achieves your vision!