Renovating your home

Budget kitchen (flat-pack cabinets, laminate benchtop, basic appliances): $15,000-$25,000. Mid-range (custom cabinets, stone benchtop, mid-tier appliances): $25,000-$50,000. High-end (custom cabinetry, premium stone or engineered surfaces, integrated premium appliances): $50,000-$120,000. Plumbing relocations, electrical upgrades and demolition add to the base cost. Get three written quotes on the same scope before you commit.

A standard bathroom renovation lands at $15,000-$35,000 for mid-range fixtures and finishes. High-end (premium tiles, freestanding bath, frameless glass, double vanity) runs $35,000-$80,000. Allow extra for plumbing relocations, structural changes and waterproofing. Bathrooms typically take 3-5 weeks of trades-on-site for a like-for-like swap, longer if walls move.

Three common paths: refinance and redraw against existing equity (cheapest interest rate, most flexible — best for jobs over $30k); a construction loan (released in stages against builder invoices, used for major structural work); or a personal loan (fast to set up, expensive — only for small cosmetic jobs). For most owners, the cleanest play is refinancing into an offset account so interest only accrues on what's actually spent.

Cosmetic refreshes (paint, flooring, modest landscaping) typically return 200-400% on dollars spent. Kitchens and bathrooms return 60-90% if done to a mid-range standard appropriate to the suburb. Adding a second bathroom to a 3-bedroom house often returns more than 100%. Extensions, pools and high-end finishes rarely return their cost at sale — they're lifestyle decisions. Always benchmark against what comparable sold homes in your suburb actually have.

Depends on the scope and your state. Internal cosmetic work (paint, flooring, replacing fixtures like-for-like) typically doesn't need approval. Structural changes (moving walls, plumbing relocations, electrical) often need a Complying Development Certificate (CDC) or a Development Application (DA). Extensions, second-storey additions and major facade changes almost always need a DA, which can take 2-4 months to approve. Check with your local council before any quote becomes a contract.

Rule of thumb: if the renovation cost plus your current home's value exceeds the sale price of a comparable already-renovated home in your suburb, sell. If it sits below, renovate. Add a 'cost of moving' premium of $30,000-$80,000 (stamp duty, agent fees, conveyancing, moving costs) to the renovation side of the equation. The 'renovation rescue' calculation is usually closer than emotional attachment suggests.