How Much Does It Cost To Renovate A House In 2024?

One of the most common questions we always get from customers is “How much does it cost to renovate a house”. Whilst the answer is not straightforward and can depend on a variety of external market factors, it pays to do your research so you can get an idea of the cost of renovating a house in 2024.

From configurations, orientations and building materials, to designs, trades and construction style, several factors will influence the final figure.

In this blog, we’ll outline the considerations to take into account when looking to update your property, with a look into the common costs of renovating a house to help you budget for your next project.

 

So, How Much Does It Cost To Renovate A House?

To obtain an actual quote for a project, it is best to submit a formal quote request so you have an exact budget to work off. However, some initial considerations can help you obtain an estimate – we’ll outline these for you below.

Before you sit down to figure out how much it costs to renovate a house in 2024, it’s crucial to understand the various factors that contribute to the overall budget spend. As an initial price point to go off, we generally find that minor structural home renovation will cost above $100,000, and this figure can increase depending on the scale of the project and quality of materials used.

One of the most significant factors influencing the cost of your renovation is the type of renovation you want to undertake as there are differing price points for each renovation type.

Ground floor extensions are generally less expensive than second-storey additions, as they require less structural work and are often easier to access. These costs can fluctuate depending on elements like the size of the addition and any siteworks needed to prepare the area, for example, excavation or landscaping costs.

Second-storey additions, on the other hand, are more complex and expensive as they require reinforcing the existing structure to support the additional weight of the new level. Costs depend on the size of the addition, as well as the complexity of the design itself.

Modular extensions have become a popular option for homeowners, as they are pre-fabricated off-site and assembled ahead of installation, reducing the complexity of the construction process and adding efficiencies for installation – we’ll talk more about these later.

 

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Other Home Renovation Costs To Consider

When it comes to the cost of renovating a house, your total project costs will ultimately depend on elements such as the scope and size of the renovation, the complexity of the design and build, as well as the chosen materials and finishes used to finesse your dream home into reality.

Aside from the renovation type mentioned above, there are also some other home renovation costs you should factor into your budget.

Council approvals and permits needed from local councils ahead of starting site works

Before any construction can begin, you’ll need to obtain the necessary approvals and permits from your local council. It’s important to factor in these costs early on and allow sufficient time for the approval process to avoid any delays or unexpected expenses.

Architectural and design fees required to transform your vision into reality.

This includes aligning your project with the experience of an architect or designer to come up with a design that meets your functional and aesthetic goals. Fees here will vary based on the level of service required, as well as the complexity of your brief, and of course the reputation of who you decide to go with.

Any site preparation, demolition, clearing or levelling needed ahead of construction

Depending on the condition of your existing property and the extent of your renovation, you may need to undertake significant site preparation work. Examples of these home renovation costs include demolition of existing structures, clearing of scrub or vegetation, and/or levelling the site to ensure drainage and stability.

Plumbing, electrical, and HVAC installations needed like heating, ventilation or piping

Your home renovation project may require updates or upgrades to your plumbing, electrical, or HVAC systems. This is particularly true if you’re adding new rooms or expanding your living space. The cost of these installations will depend on the extent of the work required and the condition of your existing systems.

Finishing touches like painting, flooring, fixtures and fittings to style your new addition or extension.

Once the major construction work is complete, you’ll need to budget for the finishing touches that will bring your renovated space to life. From design elements like painting, cabinetry and flooring, to lighting and plumbing fixtures, it’s important to allow sufficient funds to be able to finish your project with a perfect, cohesive and polished result.

[ Request A Renovation Quote From Us ]

 

 

Forgotten Costs To Factor Into Your Budget

We’ve covered the main cost considerations above, however, there are often additional costs which contribute to the overall budget, which are sometimes missed in initial budget scoping. So, before you embark on a future project, don’t forget to factor in costs like:

• Size and scope of the project
• Complexity of the design and build
• Quality of materials and finishes
• Contingency fund for unexpected expenses
• Local market conditions
• Contractor and labour costs
• Timeline and duration of the project
• Energy efficiency upgrades
• Furniture and interior decor
• Temporary living arrangements during renovation
• Insurance and liability coverage
• Financing options and interest rates

How Modular Construction Saves Time (And Money)

At Nexus Homes Group, we’re Perth’s modular extension professionals. We are known for pioneering our unique modular construction process, which has seen countless renovation projects save time and budget over the years.

The modular process means all construction work is done off-site, where our team have access to machinery, space and a controlled construction environment. Having this site located in our Cockburn warehouse means we are able to remove the inconvenience of on-site builds, whilst also reducing the risk of weather delays, translating into faster build times, and in turn, reduced labour costs. Coupled with our in-house expertise and experience, we have streamlined this construction style with a firm focus on efficiency.

As a result, we typically see construction times reduced by around one-third of the time compared to standard on-site builds. To put this into perspective, this means we have the ability to design and build a customised second-storey or home extension within just weeks – making it the popular choice for adding bedrooms, expanding your living space or even creating a home office.

[ Find Out More About Our Modular Process ]

 

“Thank you Nexus for delivering exactly what you promised – on time and on budget. We love the exterior look of our second storey – looks like the house was built that way. Lots of positive feedback from neighbours and visitors including one of the original owners!” – Tina Watkins

 

Understanding The True Cost Of Renovating A House

So, the next time you wonder “How much does it cost to renovate a house in 2024?” it is worth considering the above aspects of your brief, as they will dictate the overall cost scope of the project. Whilst you may not have specific numbers to go by, factoring in some ballpark estimates for these figures is wise when forecasting home renovation costs.

We have provided some further detail around scoping renovation costs and considerations in our previous article Renovation Costs – How Much Does a Renovation or House Extension Cost?, so we welcome you to check this out too.

 

Obtain A Quote From Renovation Experts

It is worth noting that each project is always uniquely matched to the needs, wants and preferences of the customer. It is for this reason that we always recommend that you engage a renovation expert to discuss your project, so you can fully understand the various options available to you when crafting your perfect home improvement.

If you are looking to obtain some quotes for your next renovation project, we welcome you to request an obligation-free quote from the team here at Nexus Homes Group, where we’ll happily walk you through the process.