Home renovation is big, both in Perth and across Australia. During the 2015-2016 financial year, we spent $7.7 billion across Australia renovating our homes. It is estimated that 8 million Australians renovate their homes every year. 2 million of those who renovate spend at least $5,000. These numbers take all sizes of home renovations into consideration, from a minor paint job to a full renovation.
Here are the findings of a study called “Australian Renovation Trends and Insights.”
9% renovate to improve the aesthetics of their homes. 8.8% renovated to improve the functionality. 7.9% renovate to improve their property’s resale value. It is estimated that Australians receive $2 for every dollar they spend on renovations when it’s time to sell their homes.
7.6% renovate to improve their home’s energy efficiency. 7.5% renovate to minimise costs. 6.4% integrate green or sustainable materials into their renovations. 6.1% renovate due to health concerns. 4.9% integrate “smart technology” into their homes.
One of the better trends we see is that 90% of those who renovate get some sort of professional help. 63% hire a professional builder like Next Level Extensions to do the work. The average amount spent on each renovation is $47,984. 36% of Australians plan to renovate during the next 12 months.
One in four home renovations cost between $12,000-$40,000.
Home Renovation Done by Professionals
We are happy to know so many people are hiring professionals to do their home renovations. We know a lot of people love to do it themselves, but any serious home renovation should be done by a professional builder.
At Next Level Extensions, we are home renovation professionals with more than 70 years’ combined experience in providing Perth homeowners with the finest in home improvements. We have an award-winning designer of home renovations named Max Sardi who can help you turn your current home into your dream home.
To learn more or for a free consult, call us today: 130 948 094.
