If you’re looking to Knock Down Rebuild Melbourne, one of the most important decisions you’ll have to make is determining how much it will cost. There are many factors that go into estimating this amount, such as the size of your house, the design you’re going with, and whether or not you want to do any major upgrades to the property while rebuilding. To get an idea of what your budget might look like, take a look at the average costs below. If you have any questions about what all of these numbers mean, feel free to ask an experienced specialist!
A Quick Guide to The Price of Re-Building Your House
In Australia, it’s estimated that a new home costs anywhere between $400,000 and $1.5 million, depending on how elaborate or large you want your house to be. The average new home is around $600,000 (meaning if you built from scratch today you would probably spend between $400K and $600K). The cost of re-building will also depend on what parts of your house need to be replaced. For example; a new roof will cost more than a kitchen renovation.
Ways to Save Money on Building an Extension or Renovating
Everyone is looking for ways to save on home renovations and extensions. Here are a few tips:
1. Look at your local council’s website to see if there are any grants or cheap loans available for property improvements (think of community housing).
2. Be upfront with your builder about your budget; you may find that they have some affordable solutions for you already!
Reducing the Cost of Renovations and Extensions
The cost of building works can vary greatly depending on what you are doing and where. As a general rule, always start your search for builders in your local area. This will help to keep costs down and reduce delays – as you won’t need to wait for them to come from further afield. Use our tools below to help you get started.
Is knock-down rebuild even worth it in today’s market?
Though you may be tempted to knock down and rebuild, consider if it’s worth doing or if you might be better off selling your property as-is. You’ll need to carefully assess your options before deciding what you should do with your home, but be sure to think about these things when determining whether or not a rebuild is right for you. If you want to sell in today’s market, then consider renovating rather than Knock Down Rebuild Melbourne. Renovations will give you more flexibility in how much work you want to put into updating your home and how much of an investment you want to make. Plus, renovations tend to increase property value more than a complete rebuild would – especially in today’s market where values are lower than they were just two years ago.
