Top Most Expensive Home Renovations

Homeowners across Australia are opting for more home renovations than ever in recent decades. There are a few reasons for this, including the fact that many homeowners have more home equity, while others are simply trying to raise the resale value of their homes.

Today, we'll discuss the top most expensive home renovations that are most common in Australia, what they cost on average, and what they entail. This information will give you a better idea of whether they are worth the upgrade or not.

Top Most Expensive Home Renovations

Let's start our list with the most expensive home renovations and then go down from there. Just remember that the prices quoted below are estimates for average-sized home renovations with mid-tier upgrades.

Kitchen Renovations

Kitchen renovations or remodeling is easily the most expensive home renovation project you can opt for. It is a complicated affair with plenty of high-dollar value upgrades like a benchtop, appliances, fixtures, and cabinetry.

The average kitchen remodel can cost you anywhere between $30,000 and $50,000. Of course, if you opt for higher-end materials, products, and additional costs, these prices can easily double in no time, especially if you have a larger than average kitchen.

Kitchen renovations are the most practical and have many benefits. If the kitchen is closed off, you can tear down walls to make it into an open floor plan, making it a great renovation to change the look of your home.

It is also the best home renovation to increase your home's resale value. Still, you must be careful not to overspend because high-value kitchen remodels may not always pay off when you sell the home.

In-Ground Swimming Pool Addition

Swimming pools are incredibly valuable for your home and family. It means your family can enjoy more outdoor activities at home, and they also add resale value and buyer appeal to your home. There's a sort of tie between kitchen remodeling and swimming pool additions in terms of expense.

An in-ground swimming pool addition also averages between $30,000 and $50,000. However, this will depend on the size and type of pool you get. Concrete pools are more expensive than their fibreglass counterparts, and there are additional costs like decking, covers, heating, and even landscaping.

You don't always need a large swimming pool even in large outdoor spaces, smaller pools are just as appealing and add great value to your lifestyle and home's resale.

Bathroom Renovations

Bathroom renovations are another popular and expensive home renovation project, where Australians spend on average between $20,000 and $30,000. This cost includes basic bathroom upgrades like bathtub, vanity, tiles, fixtures, mirrors, coverings, and paintwork.

Of course, high-end upgrades can hike the bill well over the mentioned costs. Moreover, if you shift existing plumbing outlets or if there is unexpected additional plumbing work, your costs go up substantially.

A good bathroom renovation or remodel is a great way to add resale value to your home despite these extra costs.

Roof Renovations

Roofs do not last forever. Depending on its lifespan, you may need to replace the roof at least once during your lifetime, especially if you live in an older home. Other factors like roofing material, maintenance, and weather also play a major role.

On average, a roof replacement can cost you anywhere between $10,000 and $25,000, depending on the size of your home and the roofing materials you replace or upgrade. For example, a corrugated iron roof for an average-sized home may cost around $15,000.

On the other hand, a similar-sized slate roof may easily cost you three times as much. The upsides are that slate lasts for the better part of a century. You'll need to research the pros and cons of roofing materials to understand better which option is worth your money.

Conclusion

If you are wondering why we didn't include home extensions like a loft conversion, know that it is because they are "extensions" and are very broad and subjective.

The mentioned home renovation prices are just averages, and you must remember that they can go up or down depending on several factors. Moreover, there are always additional costs apart from the renovation itself, which we haven't included in the prices quoted.

Of course, even the simplest home renovations can reveal existing problems in your home that may throw your budget completely off, like water damage, plumbing issues, or other things. So, prepare a comprehensive budget before you start home renovations.