Renovating in Brisbane is an expensive prospect.
No matter what they say on the DIY shows like “The Block”, most people don’t have the time or expertise to install a kitchen, safely undertake electrical or plumbing work or lay tiles neatly and correctly. Doing these things yourself will save money – in the same way that doing your own dental work or cooking your own dinner will save you money. There are valid reasons why we pay for these things though – either for professional expertise or for convenience.
In the renovating game, often paying someone to do it properly the first time turns out cheaper in the long term. I recently met a couple who bought a newly renovated home only to find out two months after moving in that the “new” bathroom hadn’t been waterproofed at all. They ended up having to redo the entire bathroom because of the mould and rot.
As a ball point figure, when looking at your plans estimate $2800 - $3300 a square meter. This usually covers a good level of finish, structural work, landscaping / retaining works and the unexpected costs that always arise with a renovation.
The “reality” TV shows are just that – TV shows. Off camera, these amateurs have entire teams of professionals helping them out and most of the products are free. Of course you can do a kitchen for $5000 if you don’t need to pay for labour, material or appliances. For the rest of us, $3000 a square meter is much more realistic.
New builds are cheaper. Often these come in $1500 - $2500 a square meter. This is if the block of land is flat, services are ready to be connected and you are doing a basic construction. If there are earthworks, features such as raked ceilings and luxury finishes then the $3000 a square meter ball point is more realistic.
You can save costs - check out my Blog Post - and every project is different so getting at least three professionals to tender on the build is a great way to ensure you are getting the best value for your money.
However, whether you are looking at buying a home to renovate, planning your latest renovations with your family or looking to make a profit, keeping this figure in mind is a good place to start. Talking to your designer honestly about your budget and the outcomes you want will save time and stress for everyone.