How much does a home renovation cost?
There are a lot of influencesthat contribute to your renovation’s total cost. Minor renovations can cost aslittle as $15,000, but you can easily spend over $500,000 for a complete alteration.Most of these expenses are in the labour, while the next major expense is materials.
Aspects that affect the price of your homerenovation
The range of renovation costsis huge. Particularly in New Zealand, that’s because no two renovations areever exactly the same with our unique housing.
Below are the considerationsthat can affect your home renovation costs.
Renovation Size
Perhaps one of the biggestcontributing components is size. Remodelling a studio apartment will besignificantly cheaper than renovating a 5-bed, 4-bath townhouse. Accordingto Interest.co.nz , theaverage square meter cost to build a house in New Zealand was $2337 per squaremeter (excluding non-construction costssuch the cost of land and marketing expenses). However, when it comes torenovations, the average cost to renovate per square meter is $4000.This is because you generally need demolish what is already there inpreparation for the new works, and work around framing, pipes and other householditems during the build.
Materials
Quality materials come at a highercost. You’ll also need to consider maintenance and how long the product isexpected to last.
Renovation Complexity
Renovations might only involve somebasic home improvement, like revamping fixtures and painting. However, if youare totally changing the layout of your home (including the kitchen & bathroomlocation and requires electrical upgrades), assume you will have to calculatemore into the renovation costs.
Where You Live
Where you live can influence yourcost of renovations. One of the biggest costs is labour and hourly wages whichvary from area to area, and Auckland in particular, site access and traffic canbe contributors to cost. Can you put a big bin onsite for rubbish, or does ithave to be manually removed and taken to the dump? Is there adequate parkingfor the army of tradies coming to site? Do they need parking permits? Can gearbe offloaded trucks safely? These things can impact cost.
If you are renovating on the outskirtsof the city, you will want a local builder as you don’t want to have pay forthe tradies sitting on the motorway in the daily traffic jams.
Tradies
Contractors can quote yourrenovation at different rates and ways for the same job. Make sure they are allquoting from the same plans and scope so you can compare ‘Apples with Apples’. Whileit can be appealing to accept the lowest offer, consider what has been left outof the quote, what allowances are there, and what experience does thecontractor have. Paying a bit more for experience could be worth it.
Kitchen
Kitchen renovations arelikely the most intensive in terms of time spent and labour per square metrewith electrical, plumbing & gas, stonework, cabinetry, tiling, appliancetechs, plastering and painting – all trades can be involved. Kitchens can alsobe the most expensive of renovations if you consider all of the appliances and associateditems you might want to purchase.
Kitchen cost: $16,000-$55,000
Bathroom
Bathrooms can also be quite labour-intensive.The main costs are tiling or adding brand new bathroom fixtures. Tiles can costas low as $20 per square metre or as much as $500 per square metre, but thenyou have to have them laid, and you will need waterproofing if its going to bea wet area like a shower. The less plumbing fittings you move or add, the lowerthe cost will be.
Bathroom Cost: $10,000-$55,000
Bedrooms
Bedroom improvements can be costeffective or cost a fortune, depending on what you have currently and what youwant it to be. The most cost effective way to improve a bedroom is to simplypaint it to bring it back to life. Custom wardrobes can create more storage,but don’t significantly add value unless its walk-in. Adding an ensuite will increasethe value of your home, but it also increases the cost to renovate.
The average cost for bedroomrenovation is: $3,000-$40,000
Lounge
The lounge is one of the mostused and most visible areas in your home, so any improvements here will benoticed by all. From simply painting to knocking out walls for more space oradding bifold doors onto a deck, sky is the limit when it comes to options andcosts.
The average cost of living roomrenovation is: $5,000-$15,000
Outdoor Area
From a simple grass garden to apatio, deck, landscaping and pools, your garden renovations push yourrenovation cost calculations up significantly.
The average cost of doing upyour garden and adding a deck is: $3,000-$15,000
How to calculate the cost of your home renovation asan estimation
How do you estimate how muchyour renovation project will cost?
Make a comprehensive list ofeverything that needs to be done, room by room. Be as specific as possible.
Check with your local councilto see any consents are required for the work you are thinking of. Some have asimple online consent tool.
Find out the cost of the hourlyrates in your area, as well as the cost of the materials, fixtures and fitting –you can find much of the pricing online from suppliers, or just give them acall and ask what the cost is.
Budget 10-15% on top of yourcalculated estimate for things you have missed or ‘surprises’.
Talk to your local renovators to get a quote.
How to save money on your home renovation
- Allow plenty of time for your builders to finish the project. Rushed jobs can increase costs and increase the likelihood mistakes.
- Compare quotes from multiple contractors before making a choice.
- Leave the work to the professionals, but DIY when you can. If you have the time, doing your own painting or gardening will cut down on your costs.
- Work with the layout you already have. Changing walls, electrical or plumbing locations always costs more
Home renovations can cost tens of thousands of dollars, but they can add value to your home.
Renovation Cost Calculator syndicated from https://tradeguys.co.nz/
Renovation Cost Calculator syndicated from https://tradeguys.co.nz/
No comments:
Post a Comment