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A kitchen renovation is an exciting endeavour that holds the promise of transforming one of the heartbeats of your home.
People choose to renovate their kitchens for various reasons. It could be as simple as making cooking and daily activities easier or updating the look and feel of the space to boost the value of the home.
Whether for personal comfort or attracting potential buyers, kitchen renovations offer a way to refresh and improve one of the most important areas of a home.
The investment for a kitchen renovation in Australia can fluctuate widely, influenced by a multitude of factors that shape the final cost. Whether you're seeking a minor facelift or a complete overhaul, understanding the potential expenses can empower you to approach your project with clarity and confidence.
Just as each kitchen is unique, so too are the costs associated with bringing your vision to life. From subtle upgrades that add a fresh touch to complete overhauls that transform the heart of your home, the expenditure can vary significantly.
According to OpenAgent, a kitchen renovation can cost anywhere from $5000 to $45,000+, depending on the kind of renovation you have in mind and a multitude of other factors. Here’s a rough price guide below:
On an average level however, people tend to spend roughly $20,000 on their kitchen renovation.
Remodelling or replacing a kitchen before selling a home is a strategic move aimed at maximising market appeal and potential selling price.
Homeowners often opt for this approach to create a lasting impression on potential buyers. A modern, updated kitchen is a major selling point, as it offers both functional and aesthetic advantages.
By investing in a kitchen renovation, sellers can present a turnkey solution to buyers, minimising the need for immediate upgrades and reducing the negotiation room for lowering the asking price.
If a kitchen renovation is something that’s on your mind either before selling or after buying, it might be worth talking about it with a real estate agent. A good agent can potentially offer valuable advice that gets you your desired outcome that best suits your unique situation.
So you might be wondering where exactly the majority of renovation costs are coming from and which expenses are taking up the bulk of the final price. Whether you're aiming for a subtle refresh or a comprehensive overhaul, understanding these cost components can help you make informed decisions.
We elaborate on some typical examples of kitchen renovation costs below:
On average, the ROI of a kitchen renovation comes in at roughly 62%. This means that for every dollar you invest in the renovation, you can expect to recoup roughly 62 cents in increased property value.
So if your kitchen cost $50,000 to renovate, it would result in the property’s value increasing by an additional $31,000 (0.62 x $50,000).
However, this assumes that this money has been spent on worthwhile renovations of your kitchens that buyers actually sought after.
Let’s now take a look at some kitchen renovations that are typically highly sought by potential buyers.
If you’re looking to sell your house, you can use this cost of selling property calculator by OpenAgent to help you budget accordingly.
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Doorsteps Finance Pty Ltd ACN 648 541 879 and Doorsteps Solutions Pty Ltd ACN 654 334 246, Australian Credit Licence 537369 are wholly owned by OpenAgent Pty Ltd ABN 93 161 595 679 (together, “Doorsteps”). Doorsteps are not making any suggestion or recommendation about any particular product or service.
Property reports contain property estimate data and information provided by RP Data Pty Ltd trading as CoreLogic Asia Pacific ABN 57 087 759 171 (CoreLogic) and OpenAgent Pty Ltd, which is general in nature. It is not a professional property valuation or advice to be relied upon. The actual market value of the subject property may differ. We and CoreLogic do not warrant the accuracy, currency or completeness of the data and information to the full extent permitted by law, each excludes all loss or damage howsoever arising (including through negligence) in connection with the information. You rely on the property estimate at your own risk.
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