The Ultimate Guide to Renovation Costs

There are so many great reasons to undergo renovation! To redefine your style, to increase resale value or to simply improve quality of life. The biggest issue people come across when making the big decision to renovate is the price! I cannot count the amount of times a customer has been in shock when hearing the cost of a full renovation and it simply comes down to lack of education and awareness on the topic! Which is why, today I am laying it all out on the table so next time you get a quote… your eyes don’t pop out of your head. 
 
Renovations can vary heavily depending on project to project. Minimum or low scale full renovations will usually cost you around $20,000 where as higher scale renovation can be reaching 300,000 +.  

Factors that Effect Renovation Cost

  • Condition Of the Site
    The condition of the site is factored into consideration when quoting a renovation. Conflicting Utilities, Infected Materials, Ground Water, Buried Storage Tanks and archaeological sites are all things we must think about before determining the cost of the renovation. 
     
     
  • Project Schedule 
    Every project has an estimated timeline that most renovation and labour companies hope to adhere to, ensuring the job is completed efficiently for their client. However in saying this, unexpected circumstances do arise which can heavily effect the cost of the project. Circumstances that lengthen the projected time period increase indirect cost and labour etc. 
  • Size 
    The size of the space being renovated influences the cost due to extra time and more materials etc. Depending on how complicated the site is can also increase the cost of the project due to hiring more tradesmen and longer project completion. 
  • Materials
    Location of materials matter more than you know! If they are available closer to the site then cost of materials will be low, however if they are being transported and or are only available from further distances, cost of materials will increase. Also the furniture and fittings (Tiles, Benches, Vanities, Toilets etc) of the chosen project will vary estimated cost. These sorts of things often vary so much in cost so it is very useful to have an idea of the fitting your are looking at including to give a proper estimate. 
  • Location 
    Tradesmen often have to factor in the location of the space they will be renovating. Is it a one or two story house? An apartment/unit? These matter because of the transportation of materials, how easy is it to get all the furnishings in and out of the renovation space. In regards to location, where about your space is located in your city determines cost of transportation. Time is money, so if tradesmen are spending large amounts of time travelling to and from the site, it prolongs project finish time and and cost of tradesmen increases as time is wasted. 

Renovations can be one of the most exciting experiences! Do not let the price weigh you down and stress you out. After reading this, take into consideration all of thee factors and you will be well prepared for your next renovation!