Buying a Home with the Intention to Renovate: A Step-by-Step Planning Guide.
For many Canberra buyers, the perfect home isn’t move-in ready — it’s a property with “good bones” that just needs the right renovations. Whether you’re an owner-occupier wanting to customise your forever home, or an investor aiming to boost rental returns and capital growth, planning is everything.
Here’s a step-by-step guide to buying with renovations in mind — and how to make the process smoother, smarter, and more profitable.
Step 1: Define Your Renovation Goals
Before you even start house hunting, be clear on what you want from the renovation:
- Owner-occupiers: Are you upgrading lifestyle (bigger kitchen, outdoor entertaining) or future-proofing (energy efficiency, accessibility)?
- Investors: Are you chasing higher rental yields, stronger resale value, or a quick turnaround?
This clarity will help you choose a property with renovation potential that actually matches your goals.
Step 2: Budget for More Than the Purchase Price
When renovating after buying, your budget isn’t just about mortgage repayments. You’ll need to factor in:
Purchase costs – stamp duty, legal fees, inspections.
Renovation costs – building works, trades, approvals, materials.
Contingency buffer – usually 10–15% for unexpected issues.
Living costs – temporary accommodation or lifestyle adjustments if you live through the works.
💡 Tip: In Canberra, approvals for structural changes or extensions may require permits through Access Canberra. Build in time and costs for compliance.
Step 4: Plan Your Timeline
Renovations take time, and poor planning can blow out costs. A typical timeline might look like this:
- Week 1–4: Design, planning, approvals.
- Week 5–12: Major works (demolition, structural, electrical, plumbing).
- Week 13–20: Kitchens, bathrooms, finishes, painting.
- Week 21+: Landscaping, outdoor areas, staging/move-in.
Your exact timeline depends on scope — from a cosmetic refresh to a full extension.
Step 5: Decide — Live Through It or Move Out?
Living through a renovation saves money, but it comes with dust, noise, and disruption. For major works, many Canberra families choose temporary accommodation. Factor this into your budget early.
Step 6: Partner with Trusted Renovators
A successful project isn’t just about vision — it’s about execution. Licensed, insured, and experienced renovators will:
- Ensure compliance with ACT Government building codes.
- Pull the right permits through Access Canberra.
- Deliver safe, high-quality work that stands the test of time.
At Your Property Profits, we’ve helped both sellers and owner-occupiers transform homes with smart, compliant, and value-adding renovations — even when selling wasn’t the end goal.
Final Thoughts
Buying with the intention to renovate can be one of the smartest ways to secure value in Canberra’s property market. With careful planning, realistic budgeting, and the right renovation partner, your new property can be transformed into the home (or investment) you’ve always wanted.
FAQs
How much should I budget for renovations after buying a house?
It depends on the scope, but most buyers in Canberra set aside at least 10–20% of the property value for upgrades.
Do I need approvals for all renovations?
Not for everything — cosmetic changes usually don’t, but structural works, extensions, and wet-area upgrades require Access Canberra permits.
Is it cheaper to live through renovations or move out?
Living through saves money, but it can be stressful. For bigger projects, many families choose to rent short-term.
Can I use equity to fund renovations?
Yes, many Canberra buyers refinance or use construction loans to cover renovation costs.
Ready to Renovate With Confidence?
If you’re buying with renovations in mind, let’s make sure your project is smooth, compliant, and value-driven.
