Determining a renovation budget involves balancing potential return on investment with current market conditions. As of December 2025, Melbourne homeowners considering renovations prior to sale are typically looking to enhance presentation and appeal, rather than undertaking extensive structural changes.
In 2026, a ‘light’ renovation in Melbourne’s Eastern Suburbs – focusing on cosmetic updates like painting, new carpets, and minor kitchen/bathroom refreshes – can range from $10,000 to $30,000. We’re seeing sellers currently favour updates that maximise light and space, aligning with buyer priorities. A full kitchen or bathroom renovation, while potentially adding value, can easily exceed $50,000, and doesn’t always guarantee a dollar-for-dollar return. Fletchers’ experience indicates that strategic styling (typically $2,000 – $8,000) and professional photography ($500 – $1,500) often deliver a significant impact on buyer perception. It’s important to remember that the Melbourne property market, with a median dwelling value of $823,495 as of December 2025, rewards well-maintained and presented properties. The sales process, typically 4-6 weeks, means renovation timelines need careful consideration.
Ultimately, a realistic renovation budget in 2026 should be carefully considered in relation to your property’s existing condition, location, and the potential uplift in value within the competitive Melbourne market.