Budgeting for Your Renovation
Renovating your home is one of the most rewarding investments you can make — both emotionally and financially. However, without a solid budget in place, costs can quickly spiral out of control. At Brands Built, we believe in a transparent, informed process that helps homeowners achieve their vision while maintaining financial clarity from day one.
Here’s how you can set a realistic renovation budget and manage it with confidence:
1. Start With a Clear Scope
Begin by defining exactly what you want to achieve. Are you planning a full home renovation or focusing on a specific area like the kitchen or bathroom? Each type of project comes with different price brackets. Create a list of must-haves and nice-to-haves — this will be key when compromises need to be made.
2. Know the Average Costs (But Plan for More)
Every project is unique, but having a ballpark figure helps. In Sydney, high-quality renovations can cost anywhere from $2,500 to $5,000+ per square metre, depending on the scope, materials, and complexity. Once you have a baseline, add a contingency of at least 10–20% for unexpected issues (like hidden water damage or supply delays).
3. Choose the Right Builder Early
A reputable, licensed builder like Brands Built will help you develop a realistic budget from the outset. We work closely with clients during the planning phase to align the design and material choices with their financial goals — eliminating surprises later on.
4. Prioritise Quality Over Quantity
It’s tempting to go for cheaper materials or DIY options to save money upfront, but this can backfire in the long run. Cheap finishes wear faster, and poor workmanship leads to rework. Instead, invest in high-impact areas (e.g. kitchen cabinetry or structural work) and consider phasing out other parts of the project to stay within budget.
5. Keep Track of Every Dollar
Use a dedicated spreadsheet or budgeting app to monitor your spending throughout the project. Track invoices, changes to the scope of work, and any approved variations. If your builder offers regular cost reports — like we do at Brands Built — use them to stay informed and in control.
6. Be Smart With Financing
Consider how you’re funding the renovation — savings, equity, or a renovation loan. Talk to your lender early and make sure your financing aligns with your construction timeline. Be sure to factor in all the “soft costs” too, such as permit fees, consultant fees, or temporary accommodation if needed.
7. Avoid Common Budgeting Pitfalls
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Underestimating timelines – Delays cost money, especially if you’re renting or staying elsewhere.
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Not locking in prices early – Material and labour costs fluctuate. Get fixed-price contracts where possible.
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Scope creep – Stick to the plan. Every small change adds up.
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Ignoring future maintenance – Quality choices now mean fewer headaches later.
8. Trust the Process (and the Professionals)
Budgeting doesn’t mean cutting corners. With the right planning, team, and mindset, your renovation can be a smooth and financially sound experience. At Brands Built, we guide clients through each stage — from budget estimates and design input to final costs — ensuring transparency, quality, and peace of mind.
Thinking About Renovating? Let’s Talk
If you’re planning a renovation on Sydney’s Northern Beaches or North Shore and want a builder who values clarity, craftsmanship, and communication, contact Brands Built today for a no-obligation consultation.