Archicentre has just released its latest renovation Cost Guide, for Australian homeowners and home buyers who want to assess the cost of repairing or renovating the new home they are considering purchasing.
Some typical prices for renovations, as published in the guide are:
Bathroom (ensuite is less) $8,200 - $21,500
Kitchen $9,200 - $28,000
Laundry $3,650 - $8,500
Bedroom $3,450 - $7,300
Single Room 20m2 $4,100 - $8,850
These prices include plastering, painting, wiring, plumbing, relocation or replacement of windows, the renewal of fittings and fixtures, cabinetry additions and surfacing such as tiling.
The estimates exclude storm water drainage, paving, carpets, drapes, appliances or the construction of internal partitions to modify the layout of rooms. The upgrading standard is to medium-quality brick veneer or timber.
The Cost Guide also suggests the following typical hourly rates for trade labour:
Brick Layer $35 - $51
Carpenter $35 - $50
Plumber and Gas Fitter $42 - $54
Plasterer $35 - $51
Painter $34 - $51
Electrician $41 - $51
Drainer $41 - $53
These figures include a supervision, profit and overhead margin of 10-20 per cent. This will vary with different contractors. These prices assume continuous work over some days, and rates for smaller jobs can cost up to 50 per cent more.
The Archicentre Cost Guide is available at http://www.archicentre.com.au/AUG2006costguide.pdf.
You should also use our special Renovation Assessor, found in our Members Only Area, the Property Investors Tool Box, which will assess whether the total renovation cost can be justified against the possible improved rental income.
