Renovating before selling aims to maximise your property’s appeal and potential sale price, but it’s a common area where sellers in Melbourne can exceed their initial budget. As of December 2025, careful planning and understanding current market expectations are crucial to staying on track.
In Melbourne’s Eastern Suburbs, where Fletchers has operated since 1919, we observe that buyers currently favour properties that feel modern and well-maintained. However, extensive, high-end renovations don’t always deliver a proportional return. Currently, buyers often prioritise renovation *potential* alongside presentation. A cosmetic refresh – painting (typically $400-$800 per room), new carpets, and professional styling ($2,000-$8,000) – often yields a strong result. Over-capitalising on renovations risks exceeding the neighbourhood’s comparable sales. A comprehensive property appraisal from a local agent, like those provided by Fletchers, will help establish a realistic budget based on recent sales data and buyer preferences in your specific area. In 2026, we anticipate continued demand for family-friendly homes, so focusing on kitchens and bathrooms can be effective, but keep scope creep in check. Remember that agent commission (typically 1.5-2.5%) and marketing costs ($3,000-$8,000 for a full campaign) are separate budget considerations.
Successfully managing renovation costs involves aligning improvements with current market expectations and understanding the potential return on investment within Melbourne’s property landscape.