Free Tool · Renovation
Property Renovation Cost Calculator
Get a realistic budget estimate for your Australian property renovation — from cosmetic refresh to full gut.
Get a realistic budget estimate for your Australian property renovation — from cosmetic refresh to full gut.
Last reviewed 12 July 2026 · rates and thresholds verified against official FY2026-27 sources.
A renovation budget is your single most important planning tool. It decides whether a project finishes on time, whether you can borrow what you need, and ultimately whether the money you spend adds more to the property than it costs. In Australia, renovation costs have risen sharply since 2021 on the back of higher material prices, trade shortages and changes to building standards — so old rules of thumb and figures from a renovation TV show filmed years ago are no longer reliable.
This calculator estimates a realistic budget range from the inputs you provide: renovation scope (cosmetic, mid-range or full), floor area in square metres, finish quality, the number of bathrooms, the type of kitchen work and optional landscaping. It returns a low, mid-point and high estimate, a cost-per-square-metre figure, and the contingency amount if you choose to include one. The output is a planning range, not a quote — but a good range stops you from starting works you cannot afford to finish.
The estimate is built from a simple, transparent formula rather than a black box. In words:
The tool then presents the result as a low–high band because no single number is honest for a renovation: the same brief can cost very different amounts depending on your property's condition, your location, and how competitive your local trades are. The cost-per-m² figure simply divides the mid-point estimate by your floor area, which is the metric builders and quantity surveyors use to sanity-check a job.
The tables below show indicative national ranges. Treat them as ballpark figures to test your own quotes against — capital-city CBD and regional rates can differ by 20% or more, and a sloping or heritage-listed site adds cost on top.
| Renovation type | Budget (per m²) | Mid-range | Premium |
|---|---|---|---|
| Cosmetic refresh | $200 – $400 | $400 – $700 | $700 – $1,200 |
| Mid-range renovation | $600 – $1,000 | $1,000 – $1,600 | $1,600 – $2,500 |
| Full gut renovation | $1,400 – $2,000 | $2,000 – $3,500 | $3,500 – $6,000+ |
| Room | Budget | Mid-range | Premium |
|---|---|---|---|
| Bathroom | $8,000 – $15,000 | $15,000 – $28,000 | $28,000 – $60,000 |
| Kitchen | $12,000 – $20,000 | $20,000 – $45,000 | $45,000 – $100,000+ |
| Laundry | $4,000 – $8,000 | $8,000 – $15,000 | $15,000 – $25,000 |
Assume a 180 m² three-bedroom house needing a mid-range renovation at a mid-range finish level: new flooring and paint throughout, one full bathroom replacement, and a full kitchen replacement, with a 15% contingency but no landscaping.
These figures are illustrative and depend entirely on your fixtures, your site and your builder. The point of the example is the method: estimate the base, add the expensive rooms, then add a contingency on the whole lot.
Spending money is easy; adding value is not. Over-capitalising means spending more on a renovation than the local market will ever pay back — for example, fitting a $120,000 designer kitchen into a modest unit in a suburb where comparable sales top out well below your total outlay. Before committing, look at recent sale prices for renovated homes of the same type in your street or suburb (state and territory valuer-general data and agent appraisals help here) and work backwards to a sensible ceiling. Kitchens, bathrooms, fresh paint, flooring, lighting and street-facing facade work tend to return the most per dollar in Australian markets; bespoke, highly personal or luxury-tier finishes in an average-priced area tend to return the least.
A contingency is money set aside for the things you cannot see until walls come off — rotten subfloors, undersized switchboards, old plumbing that fails inspection, or asbestos in a pre-1990 home. Industry practice is to hold 10–20% of the build cost in reserve; the calculator defaults to 15% for an established dwelling and you can switch it off if you are only doing predictable cosmetic work. Do not treat the contingency as a slush fund for upgrades — it is insurance against the budget blowing out, and the older or more structural the project, the closer to 20% you should sit.
Approval requirements are set by your state or territory and administered by your local council, not by this site. As a general guide, minor cosmetic work — painting, replacing fixtures, new flooring — usually needs no approval. Structural changes, extensions, anything that alters the building footprint, and most plumbing and electrical work typically require a Development Application (DA) or, for straightforward jobs, a faster Complying Development Certificate (CDC). Licensed electrical and plumbing work must be carried out and certified by a licensed tradesperson. Check your council's website and your state fair-trading or building authority before you start, because doing notifiable work without approval can force costly rectification and complicate a future sale.
This tool gives you a planning-stage budget range based on typical Australian builder rates. It does not account for your property's exact condition, your suburb's local pricing, site access and slope, heritage overlays, council fees, or finance and holding costs. It is not a quote, a valuation, or a guarantee of resale value, and it does not assess whether you are over-capitalising. To get a real number, obtain at least three itemised quotes from licensed builders working to the same detailed scope of works so you are comparing like for like.
Plan for 10–20% of the build cost. Lean towards 10% for predictable cosmetic work in a sound home, and towards 20% for older properties or anything structural, where hidden problems are far more likely once you open up walls and floors.
For an investment property, the cost of capital improvements is generally added to the asset's cost base, which can reduce the capital gain when you eventually sell. Your main residence is usually exempt from capital gains tax. Depreciation and deduction rules are detailed and change over time, so check the Australian Taxation Office (ato.gov.au) or a registered tax agent for your situation.
Minor cosmetic work usually does not. Structural changes, extensions, footprint changes, and most plumbing or electrical work typically require a DA or a CDC. Rules vary by council and state, so confirm with your local council before booking trades.
Use it for early planning only. Lenders and builders work from fixed-price contracts and detailed scopes, not online estimates. For general, independent guidance on budgeting and borrowing for renovations, the Australian Government's Moneysmart service (moneysmart.gov.au) is a useful starting point. This page is general information, not personal financial advice.