How much do you need to save for renovations?
New April 2015 data from St George Bank shows Australians love to renovate. About 41 per cent of the Australian population say they are saving for renovations or home improvements. That is up 8 per cent since December 2014.
Don’t spend more than 5 per cent of the property’s purchase price on renovations advises realestate.com.
An average bathroom or kitchen can be improved for $10,000 to $20,000. That makes renovating cheaper than moving said buyers agent and renovator Chris Gray from Your Property Empire on Sky News.
Source: Herald Sun