How Much Does A Sydney Home Renovation Cost?

Renovating a home can cost depending on the location, especially in Sydney with all the different areas, regions and suburbs. Knowing the value of the home, if the renovation is for structural or design purposes and other information influences costs. Bleyer Constructions is a Northern Beaches builder company and has been for over 65 years. Our experience has helped us understand the usual costs of a renovation job, particularly within Sydney.

Renovating in Sydney will often have the cost depending on if the renovation is for structural or design purposes. General renovations often cost 10% of the home’s value, for example $1,000,000 homes might renovate for $100,000. Structural renovations cost up to 40% of the home’s value, for instance $750,000 homes can renovate for $300,000. Overspends can add an extra 10-20% to the total renovation, such as $50,000 renovations might need and extra $5000.

General Guide for Renovation Costs

There are certain guides which can be followed when looking at how much a renovation will cost:

Overall – most times a general renovation will be 10% of the home’s value
Structural – when moving walls, changing the floor plan and installing new doors and windows are involved in the renovation expect to pay 40% of the home’s value
Design – if there will be tasks such as changing tile designs or redesigning the kitchen then it is from 1-5% of the home’s value
Overspends – it is important to save money for the chance that overspends occurs, often 10-20% of the overall renovation cost

Wants vs Needs

The building’s size and the number of tasks which are to be completed will influence the cost of the renovation. When undergoing a renovation it is important to create a list or plan with the wants and needs of the build. The needed tasks split up from the desired jobs will help with prioritising what needs to be completed. If there is leftover money then completing jobs on the want list can occur. Saving as much money as possible during renovations is important, that is why drawing up the wants and needs helps.

For example, if the doors and windows are becoming old and ruined then they can go into the need list. Likewise, if the tiles of a bathroom are fine but wanting to change the design is thought of then this can land in the want list. Balancing the wants and needs of a renovation will save money and time.

Quotes from Builders

Looking for a qualified builder is important and many different ones should be contacted related to the build. Having each provide a quote for the job will help with a viewpoint on how much the renovation will cost. Likewise, paying the builder is involved in renovation costs, therefore, a reliable but not too expensive builder must be selected. Choosing builders who will provide free quotes and consultations will also be beneficial with lowering the cost of the renovation. It is also important to factor in quotes from plumbers, electricians and other tradesmen as the quality of their workmanship can have a huge impact on your renovation. For example, if you are undergoing a major renovation then you may require the power to be disconnected and re-connected which can only be carried out by a licensed ASP level 2 electrician. Alternatively you may need to relocate your switchboard or install a new private power pole. It is important to identify any potential tradesmen costs with your builder and to appropriately budget for them as if they can easily cut into your renovation’s total costs.

Reasons for a Sydney Renovation

There are multiple different positives and negatives which come with renovating a home. Knowing them will help decide if a renovation is needed or if waiting a bit longer might be the better option.

Positives

The home’s value is increased which is great for selling purposes as often a more modern design is included. Additionally, appliances and features of the home would be updated therefore people would be more encouraged to buy
Lifestyles have changed and the home can be adapted to fit more closely to them
The outdated fittings and fixtures can be changed and upgraded
If the question of relocation is in mind then renovating the home can incline to stay at the current property
Rent can be earned higher on the investment property

Negatives

Moving our temporarily might be needed
Rubbish removal is needed for the renovation process
Overcapitalising might happen without proper planning, as well as spending too much money

Honest and Professional Northern Beaches Builders

Bleyer Constructions has been working in the Northern Beaches of Sydney for over 65 years on renovation jobs. Our expert builders are the most reliable at easily handling all sorts of renovations with ease, efficiency and professionalism. Our Construction Services are available to all Northern Beaches suburbs which we will help with any build.

Also, we offer assistance with Building a New Home, Home Extension and other types of Construction Projects. If curious to know the advantages of building a new home, read our blog for more useful information. For a professional Northern Beaches builder company – contact Bleyer Constructions on 9982 4042 or email us at info@bleyerconstructions.com.au.