What is the cost for a basic renovation?

[darshwana]

Hi Everyone,

I am new to this workshop group. I am just planning to buy an old house in Sydney and fully renovate it. Not sure if it is cost effective or it is better to buy the renovated house which is 150K to 200K more than the old house. Have anyone recently done full renovation by which I mean floor, wall paint (only inside), Kitchen and bathroom,3 bed room. 

[EricL]

Hello @darshwana 

Welcome to the Bunnings Workshop community. It's marvellous to have you join us, and thanks for sharing your question about the cost of a basic renovation. 

Renovations can be done in an affordable cosmetic manner or in an expensive thorough style. For example, a bathroom renovation can be done with just replacing the vanity, tapware and shower fittings. The tiles and the tub can be left in place on the condition that is still presentable. 

An expensive renovation means that the entire bathroom would be gutted back to frame, and everything would be replaced. The same principle applies to the other rooms of the house including the kitchen. You could end up with almost $100,000 dollars' worth of renovation expenses but ends up adding little to the value of the house.  

The advantage of doing your own renovation is that you can customize the look of the house and make spot decisions on what needs replacing and what can stay.

Let me call on our experienced members @redbournreno @homeinmelbourne @diy_hausdesigns and @lifestylebymari for their recommendations.

If you have any other questions we can help with, please let us know.

Eric

[Jewelleryrescue]

Hi  @darshwana 

@EricL  is right a FULL  gut and rebuild is not really cost effective doing an in an old house normally it is better and cheaper to buy a smashed up house and do a knock down and rebuild as the house will be brand new at the end of the day and no nasty lead paint fibro old plumbing issues,  old  scary wiring, wood rot sunken footings termite damage, Mold roof leaks and a Thousand other pit falls in reovating an old house you need deep pockets for unexpected issues and there will be.

You mentioned  buying a pre reno house.  Great just make sure there are no remaining issues as listed  above did they gloss over problem  areas.?

Do spend the money on a high rated building inspection team before the purchase.

There are some pitfalls in wanting to build a new place once the  house  demolished, rubbish removal  costs ( some sell the house cheap and it is cut up and trasnported to a country site in peices on trucks at great expense but save you rubbish removal and demo costs.)  Some  say the house is Free to pick up.

Some councils apply  new rules to rebuilds like in a flood zone they may not approve of a new house going in to a danger zone. As an example first  thing triple check for easements as they limit building plans too..

It all comes down to $$$$ we all want a good home for reasonable outlay.   Get those reports on buildings plumbing electrics, structual issues and make an informed choice.

A new rebuild will give you the house you want as long as it is suited to the block.  Also consider house designs to recycke grey water  and long roof sections facing north ish for new solar panels. Double glazing etc. Modern  wall and roof  insulation on a floating slab and maximising your house space using things like zero eve to boundary alignments.

Your house is a major investment you are wise to  seek help,