There are a number of factors that can impact your home renovation plans – design preferences, lifestyle, family size. But the number one factor that will dictate your renovation is budget.
Asking, “how much does it cost to renovate a house?” is like asking how long is a piece of string. From full-scale transformations to smaller upgrades, renovation budgets can vary based on the size of your home, the scope of work, and the level of finish you’re after. But that doesn’t mean you can’t plan and budget properly to achieve your dream renovation.
This budgeting guide breaks down typical costs and offers practical tips to help you budget for a home renovation in Launceston.
5 Top Home Renovation Budgeting Tips
1. Start with a Ballpark Figure
Early estimates can be based on square metre rates, which typically range from $1,500 to $3,000 per square metre for renovations in Launceston. Simpler updates may fall toward the lower end, while structural changes or high-end finishes can push costs higher.
2. Review Itemised Quotes Carefully
Once plans are in place, a detailed, itemised quote helps clarify where costs are allocated. Transparent quoting allows homeowners to see exactly what’s included and make informed decisions about optional upgrades or scope adjustments.
3. Factor in Permits and Design Fees
Depending on the scope of work, permits for planning, building, or plumbing may be required. Design, drafting, or engineering services can also add to the initial costs. These should be considered early in the budgeting process to avoid unexpected expenses later on.
4. Set Aside a Contingency Buffer
Unexpected costs are part of any renovation. Allow at least 10–20% of your total budget for contingencies, especially for older homes where hidden issues often arise.
5. Prioritise Must-Haves vs. Nice-to-Haves
Your budget might not stretch to every item on your wishlist. Decide early on what’s non-negotiable and what can wait. Focusing on structural improvements or functional upgrades can offer better long-term value.
How Much to Budget Per Room
If you’re renovating room by room and wondering how much it costs to renovate a house, breaking down your budget per space is a smart place to start. While actual costs can vary based on materials, finishes, and the age of your property, here’s a general guide based on national averages to help set expectations:
- Kitchen remodel: From $10,000 for basic upgrades and upwards of $30,000–$50,000 for a full professional renovation
- Bathroom remodel: Starting from $6,000, while high-spec fit-outs may exceed $25,000
- Deck, porch, or patio: Between $5,000–$6,000, depending on size and materials
- Recreation or media room: Approx. $25,000, especially if custom cabinetry or soundproofing is involved
- Other interior rooms (e.g. laundry, study, bedroom upgrades): Around $18,000
- HVAC system replacement: Approx. $4,200, depending on the type and size of the system
- Roof replacement: Around $8,000 on average
- Exterior cladding or siding: From $5,000, depending on surface area and materials used.
Tips for Cutting House Renovation Costs
Even a well-planned renovation can stretch your budget, so it pays to be smart about where you spend (and where you can save). Here are a few ways you may be able to reduce costs without compromising the end result:
Do Your Own Demolition (safely)
Removing old cabinetry or tiles before construction starts can save on labour. Just be sure there’s no electrical, plumbing, or structural work involved.
Take on Project Management (if you’re confident)
Managing trades directly can reduce overheads, but it’s not for everyone. If you’re experienced and have the time, it might be an option. Otherwise, working with a renovation team like Go Build Co keeps everything streamlined and stress-free.
DIY Painting
Painting is one of the few finishing touches many homeowners choose to do themselves. With the right prep and tools, it’s a great way to save a few hundred dollars per room.
These cost-saving strategies can help stretch your renovation budget further, but not everything should be a DIY job. When it comes to structural changes, compliance, and getting the details right, sometimes it’s better left to the experts.
Let’s Build Your Vision (Without the Budget Blowout)
With a solid understanding of renovation costs and smart budgeting strategies, you’re one step closer to creating a space that truly works for you. At Go Build Co, we bring experience, transparency, and local know-how to every project.
Whether you’re planning a kitchen upgrade, a full home transformation, or even a house extension, our renovation builders in Launceston are here to guide you. Explore our residential construction services or reach out today to get started.
