Hi All,
We purchased a property built in 1960s 8 years ago in South Eastern Suburbs of Melbourne. Our plan was to knockdown and rebuild however with the change in landscape, constructions costs going through the roof we are no longer able to build. So we have two options 1) To sell the property and purchase in another suburb (We can no longer purchase in the same suburb ) or fully renovate and extend the home.
Has anyone done full renovation of the house and extended the home ? What is the average cost to add a master bedroom and garage ? We need to fully renovate the interiors of the home - bathrooms, kitchen, windows, flooring, all new applicances, painting etc.
We do want to live in the same house as its in primary and secondary school zone which is a necessity and close to public transport.
Any advice or help is appreciated.
Im currently renovating and extending a 1959 cream brick place in Adelaide. Similar scenario but obviously costs, builder, tastes etc will vary.
Anticipate $100k for the reno (depending on what needs doing), and $100k minimum for a double garage and a 25sqm room plus hallway. Doesn't include landscaping, fencing, driveway etc etc.
Honestly, I would budget $1500sqm or $250-300k.
But that's just me. And I'll give you and idea where I might differ from others:
To get this to work, we opted for a cost plus contract. Now, many people dont like them as prices often increase. But if you're keen on driving the build, then it works.