How much does it cost to renovate a house?

How much does it cost to renovate a property? According to Archicentre, the average renovation project in NSW is valued between $75,000 and $150,000. If you want to add an 80-square-metre ground-floor extension with inclusions, you’ll be looking at $164,526 to $310,896.

Less than half of the expense will go towards materials. Labour will cost about 33 per cent of the overall amount, while fees, levies, permits, taxes and GST will eat up 21 per cent.

You have to keep the resale value of the property in mind, so it is better to consider key trends in renovating that are likely to appeal to buyers down the track.

Here are some top renovation trends in NSW: 

• Using bi-fold doors to open up the house at the back.
• Installing bigger windows to take advantage of views.
• Creating open-plan living areas by taking out interior walls.
• Revamping the kitchen with more compact, modern appliances, space-efficient storage and windows to gardens.
• Opening up bathrooms to outside areas with large windows to capture views of gardens.
• Establishing separate toilets while making bathrooms more spacious, with expensive tiles and designer showers and basins.
• Building a parents’ retreat adjacent to main bedrooms and including private balconies and courtyards for relaxing outdoors.
• Creating a home office either as a nook in a hallway or in a larger room. Usually the office equipment and storage are hidden in cupboards and benches. These nooks can be linked to an outside area with a view or deck to create a pleasant working environment.
• Freshening the look of homes by rendering and painting the facade.

If you have done your renovation on you home, please share with us so that homeowners have a better idea how much does it cost to renovate a home in different states, such as ACT, QLD, VIC etc.

We also want to hear from you about how much does it cost to renovate an apartment.