Brighter And some

How to avoid a reno rip off

by Karleen Jentz, Copywriter 1 September 2017

Increased renovation activity is driving a surge in reno costs, with tradies now pocketing an average $61.20 per hour.

But all tradies are not born equal. Queensland’s plumbers are charging $79.20 an hour and electricians (the brain surgeons of trades) pocket $74.10 an hour.

The data is courtesy of the Trade Price Index published in The Courier-Mail.

But wait – there’s more data. The ABS lending finance figures show renovation lending has reached its highest point in seven years.

So what’s it all add up to? A hefty bill if you want to add some sparkle to your kitchen or bathroom.

How can you avoid a reno rip off? If you’re renovating or profit, talk to an agent before you do anything. A good agent will tell you if you will get your money back, or whether you’re better off keeping your money in your pocket.

Here’s some advice from our own tradie-turned-agent Wayne Sweet (excuse our shameless plug).

“I’ve done some renos and flips in the past and this means I can provide realistic advice on what to do – and what not to do – when you’re getting a property ready for sale,” Wayne says.

“So often you’ll hear clients say they want to spend $30,000 or $40,000 to get their house ready for sale, but they’ll never see that back. I show them how to spend $10,000 and get $20,000 back.”

Whether you talk to us or another agent, make sure you talk to someone with experience so you get the best value outcome regardless of whether you’re renovating for sale, for rent or just for fun.

Need a new project? View our current listings for sale or talk to us about selling.