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,

DOWNLOAD INNER NORTH RENOVATION BUDGET GUIDE

  • 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:

    1. Reduce the scope
      Building less costs less. For example, rethinking two bathrooms into a combined bath/shower and separate powder room.

    2. 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.

    3. DIY selected tasks
      Some clients undertake non-structural demolition, waste removal, cleaning, or painting to reduce costs.

    4. 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.

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Owner builder support

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 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.