{"id":6128,"date":"2019-04-30T14:59:35","date_gmt":"2019-04-30T04:59:35","guid":{"rendered":"https:\/\/nimble.com.au\/?p=6128"},"modified":"2026-01-27T14:03:16","modified_gmt":"2026-01-27T04:03:16","slug":"the-complete-home-maintenance-budget-guide","status":"publish","type":"post","link":"https:\/\/nimble.com.au\/blog\/the-complete-home-maintenance-budget-guide\/","title":{"rendered":"The complete home maintenance budget guide and how a home renovation loan could help"},"content":{"rendered":"\r\n

Amazing! You\u2019re thinking about buying or renovating a house. Owning your own home is still a huge part of the great Australian dream and making a personal project like this happen can be seriously satisfying.\u00a0<\/span><\/p>\r\n

Getting into the property market in Australia is no small feat especially now. So, if you\u2019ve managed it, you’re likely juggling mortgage repayments, legal and contract fees, transfer costs, council rates, <\/span>and<\/span><\/i> those home reno and maintenance expenses.\u00a0<\/span><\/p>\r\n

That\u2019s why planning ahead matters more than ever. These costs can quickly stack up and add financial stress if you’re not prepared. Want your home to stay liveable, valuable, and enjoyable for years to come? Smart budgeting for renovations and ongoing maintenance is the key.\u00a0<\/span><\/p>\r\n

Let\u2019s break down how you can manage your money and keep your place in tip-top shape without blowing the budget. <\/span><\/p>\r\n\r\n\r\n\r\n

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Your home renovation budget<\/strong><\/h2>\r\n\r\n\r\n\r\n

Working out if you can afford to renovate (and how much you should spend) can be tricky. Especially if you’re a first-time homeowner, avoid overcapitalising\u2014i.e., spending more than your reno will add in value.\u00a0<\/span><\/p>\r\n

A good guide? Try to stick to spending no more than 5% of your home\u2019s purchase price. Done right, a solid renovation could boost your property\u2019s value by up to 10% over time.\u00a0<\/span><\/p>\r\n

Here\u2019s how to build and stick to a realistic reno budget:\u00a0<\/span><\/p>\r\n

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    Divide the \u2018Must-Haves\u2019 from the \u2018Nice-to-Haves\u2019<\/i><\/b><\/h3>\r\n<\/i><\/li>\r\n<\/ol>\r\n

    Make a clear list of what your renovation really needs (e.g., new floorboards, bathroom update, fresh paint) vs. the wish-list items (like granite benchtops or that dreamy pool).\u00a0<\/span><\/p>\r\n

    Start with the essentials and go from there. High-impact areas\u2014like kitchens, bathrooms, and outdoor living spaces\u2014typically give the best return on investment.\u00a0<\/span><\/p>\r\n

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      Break Down Your Costs with Solid Research<\/i><\/b><\/h3>\r\n<\/i><\/li>\r\n<\/ol>\r\n

      Once you\u2019ve mapped out your project, it\u2019s time to get quotes. Speak with architects, builders, or your state\u2019s fair trading department for advice. Key factors that will impact your cost include:\u00a0<\/span><\/p>\r\n