In 2018 it does not look like the building industry is about to slow down!
If you live in Auckland you would have noticed how many construction cranes have gone up in town, over 100 of them and there is still a shortage!
With the building industry pumping, more and more developments are taking place. Especially in the residential sector ahead of foreign ban.
Purchasing a residential property In Auckland and any upcoming areas such as Tauranga and Wellington which are hitting an all record high can still be challenging.
If you own a home but need to purchase a new one due to space constraints, be very careful to not make your next move an economic disaster by selling and trying to purchase in the same market. Often getting less quality for your money!
Have you considered renovating?
- Extending your home.
- Subdividing and building a larger home while the other collects rent.
- Adding an additional level.
- Reconfigure internal areas to suit your demands.
People are shocked when they are shown what is possible with their existing space. Whether its adding an additional bedroom, converting your garage or even extending most homes that that were purchased over 5-10 years ago will have more than sufficient equity to finance these changes. If you re-mortgage in smart manner you may even get away with maintaining your repayment amount.
So how much does a renovation (extension) cost?
Depending on where you live in Auckland, in 2018 we estimate costs to be between $2200 – $3400 per square meter.
Costs can be broken down as follows:
(based on our previous 10 renovation averages)
|Architect||$2000 – $6000|
|Surveyor / Engineer||$1500 – $4000|
|Renovation Management||$1200 – $3000|
|Electrical||$2200 – $4400|
|Plumbing||$2700 – $4200|
|Builder||$15000 – $25000|
|Joinery (windows)||$4000 – $7000|
|Insulation||$800 – $1600|
|Roof||$4400 – $9600|
|Other / Deco||$ 3300 – $6700|
Costs will always depend on the level of quality and selection of materials. Ask Builder Ltd to put a budget estimate for you. With a budget estimate and concept plans, you will be able to preliminary evaluation which will open the doors to your dream home! Talk to us.