Remodelling your home takes a lot of time and planning to do right. If you’re wondering where to get started, let’s break down some simple steps you can take to estimate how much your dream house will cost.
Pros of Renovating Your House
There are many benefits to deciding to renovate your Brisbane home. We wrote about some of those benefits in our article: ‘Why You Should Renovate Your Home Instead of Selling in 2021’. To summarise, home renovations can benefit you by:
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Increasing your home selling value
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Improve your quality of life
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Improve the functionality of your home for you and your family
These benefits all sound great, but it’s important to also weigh up the costs of undertaking a renovation project. Understanding the costs involved before you get started renovating your home can get you the best ROI and help you avoid unexpected costs and fees. Here are some of our top tips to get you started.
Set Your Renovation Budget
When setting the budget of your home renovation, consider the scope of your project. Do you want to renovate a single room? Or are you looking to do a full-scale renovation of your house, or extend your living areas. The scope and square footage of your plans will have the biggest impact on how big your budget should be. As a rule of thumb to get the best ROI, it’s best to budget no more than 10%-15% of the market value of your house per room you plan to renovate.
Do Some Research
As part of the renovation planning process, there’s a lot to look over that you might forget about. There are design fees to consider, insurances, approvals, loan repayments, and more. Make sure you have considered every additional payment that will be involved in the build when you’re estimating the cost of your house renovation. Some renovation builders, like Expand Renovate, waive their design fees if you choose to build with them. You can also look up the costs of certain materials and finishes that you might like in your home, including countertops, tiles, carpets, wallpaper, backsplashes, and tiles. List out as many costs as you can think of during the planning stage to avoid unexpected costs that lead you to go beyond your budget.
Talk to A Professional Renovation Builder, Get an Estimate
Once you have an understanding of your budget and goals, get in touch with a professional in the industry who can evaluate your home, draw up plans and designs, and provide you with an estimate and quote for your build. If you’re in Brisbane, Expand Renovate provides free on-site consultations to discuss your vision and budget to give you an initial price estimate.
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