Renovation costs are one of the main things you must consider before buying a house. So I was doing my “homework”, trying to calculate how much renovation would cost me for a house I was thinking of purchasing. I was having a pretty hard time there, because there is no calculator or any other tool that lets you do the math quickly and easily (well, there are some made for US, but nothing for Australia).
Luckily, I found this great website called Archicentre, where you can sign up and get the latest 2008 Building and Renovation Cost Guide emailed to you, accompanied by “21 Tips Inspecting A House for Sale”. They also offer a free e-book, “House Hunt e-book”, compact and useful piece of information.
Everyone knows that the housing prices are sky-high and that it takes about 8 months in average for a prospective home-buyer to become a home-owner. So it is really tempting, when you finally see a property you can afford, to just say “ok, so it needs a little work, I can fix this and that and finally I will have a home to live in”. But I can tell you this much – after looking through the costs in the renovation guide, I don’t think that my house was such a bargain :).