Your budget questions, answered
-
REA data shows:
Each additional bedroom can add $200,000 – $300,000 in value
There is strong demand for quality, move-in-ready homes with 3+ bedrooms
In our experience, many family renovations have resulted in equivalent or greater equity growth within the same year. We’re happy to connect you with recent clients who can share their own outcomes.
-
If you’re working with us, you’re likely in Melbourne’s Inner North, an area that has shown consistent long-term growth and is forecast to continue performing strongly.
Well-designed renovations that improve functionality—especially for families—tend to remain highly desirable in this market.
-
We combine a thoughtful, human-centered approach with clear communication and reliable results. It’s not just what we do—it’s how we do it that sets us apart.
-
Thankfully, no—costs have stabilised since the crazy days of the panedmic.
Materials and labour have returned to increases broadly in line with CPI
We allow for approximately 5% annual escalation
One exception is insurance, which has increased by approximately 20% per annum—an industry-wide challenge.
-
Yes. Please check out our owner builder offering at Flexibuild. This is our bespoke service offering Northside home owners the support they need to deliver their renovation and extension projects,
-
Projects involving a second storey generally start from $800,000.
This typically includes:
Significant structural engineering
Steel and timber framing
Wall cladding
Roofing and roof plumbing
Final costs depend on:
The condition of the existing home
Required infrastructure upgrades
External works
-
Kitchen, bathroom and laundry renewal projects typically start around $350,000
Many clients also choose to include:
Painting and flooring
Insulation upgrades
Heating and cooling improvements
These additional works often add $100,000+ to the total project cost.
-
As Three Birds Renovations so accurately put it:
“Costs can vary wildly, depending on how big you are going, how bougie you are feeling and how much unexpected drama your house decides to throw at you.”
The reality is that cost per square metre is an unreliable metric for renovations due to variables such as:
Renovation works to existing structures vs new extensions
Infrastructure requirements (restumping, underpinning, rewiring, 3-phase power, stormwater and sewer works)
Environmental performance goals (insulation, glazing, solar, batteries, Passive House principles)
Fixture and fitting selections (family-friendly vs designer)
This is why early budget alignment is critical.
-
There are four main levers you can control:
Reduce the scope
Building less costs less. For example, rethinking two bathrooms into a combined bath/shower and separate powder room.Refine fixtures and fittings
Strategic choices matter. Invest where it counts and save elsewhere—feature tiles where they shine, economical finishes where they don’t.DIY selected tasks
Some clients undertake non-structural demolition, waste removal, cleaning, or painting to reduce costs.Stage the project
Prioritise what you need now and defer items like wardrobes, cabinetry, or custom furniture until later.description
-
Yes. Please check out our consultancy service Flexibuild. We are well versed in supporting our clients who find themselves dealing with:
Home Insurance claims
VCAT claims
Builders Warranty Insurance claims
We can support your claims process and help you get a positive financial outcome and complete a home you love.
Support for Owner Builders
Our sister company, Flexibuild, can support those home owners who wish to undertake their projects as an owner builder.
We provide as much or as little support as you need to meet your compliance requirements, procure materials, manage subcontractors and achieve a quality build outcome.
If you are interested in understanding what being an owner builder entails please get in touch.
