Renovating a house can be both an exciting and challenging experience. Behind the enthusiasm of having a refreshed living space, there’s one critical aspect that should not be overlooked: budgeting. Without proper financial planning, renovation costs can spiral out of control and impact your finances.
This article will guide you through how to calculate home renovation cost in a practical and systematic way—complete with money-saving tips and smart storage solutions during the renovation process.
How to Calculate Home Renovation Cost
In general, home renovation costs are calculated based on the total area being renovated multiplied by the estimated cost per square meter. Here’s a simple breakdown:
Basic Formula:
Renovation cost = Area (m²) x Cost per square meter
Example:
- Area: 60 m²
- Type of renovation: Medium-scale
- Estimated cost per m²: Rp 3,500,000
- Total cost: 60 x Rp 3,500,000 = Rp 210,000,000
Note: The cost per square meter may vary between Rp 2 million – Rp 5 million depending on the type of renovation and materials used.
Renovation Cost Breakdown:
| Component | Estimated % of Total |
|---|---|
| Building materials | 50% |
| Labor wages | 30% |
| Design/consultant fees | 10% |
| Contingency fund | 10% |
A contingency fund is essential to anticipate price changes or additional needs during the renovation.
Budget Saving Tips for Home Renovations
Renovating your home can unexpectedly drain your budget if not carefully planned. To stay within your limit, here are several cost-saving tips you can apply:
- Research material prices beforehand, whether online or by visiting hardware stores. Don’t rush into buying from the first store—ask around and estimate based on current prices.
- Hire an experienced contractor and request a detailed price breakdown. Choose one with a portfolio that aligns with your project scope.
- Prioritize essential rooms, such as the bedroom, kitchen, or bathroom. You may not need to renovate everything at once.
- Avoid seasonal renovations, especially during the rainy season or long holidays, which can delay work progress and increase costs.
- Compare DIY vs professional work. While painting may be something you can handle, structural or flooring work is better left to professionals.
- Always allocate a contingency fund of 10–15% to cover unexpected expenses that often arise mid-project.
Types of Home Renovation
When planning your renovation and estimating the budget, it’s essential to understand the scale of the project. Here’s a simple classification:
Light Renovation
Minor upgrades or fixes—repainting, replacing light fixtures, small ceiling repairs, or interior redecorating.
Medium Renovation
More significant changes that affect certain areas of the home. This includes replacing flooring, updating kitchens or bathrooms, and removing room dividers.
Major Renovation
A complete overhaul of the property, which may involve structural changes or adding an extra floor. Naturally, this involves higher costs and longer project durations.
Identifying the renovation type is crucial to get an accurate budget estimate.
Factors That Affect Renovation Costs
Several core factors influence how much you’ll spend on a renovation:
- Renovated area size
Most costs are calculated per square meter. - Material selection
The higher the material quality, the more expensive the renovation. - Labor cost
Can be hourly or contract-based, depending on your agreement with the workers. - Home location
A home in a densely populated urban area may incur higher delivery and labor costs. - Duration of the project
Longer renovations often result in unforeseen expenses.
Need Temporary Storage During Renovation? SpaceHub is the Solution
Renovating means you’ll need to clear out furniture and personal belongings. The risk of items getting damaged or covered in dust is high. To avoid this, store your belongings safely at SpaceHub, a smart self storage service.
Why Choose SpaceHub:
- 24/7 access with personal PIN and CCTV monitoring
- Clean, air-conditioned storage units
- Flexible packages for short or long-term use
- Convenient locations in Jakarta:
By storing your items at SpaceHub, you’ll free up space for the renovation work to flow more efficiently—and do it without worry.
Calculating renovation costs doesn’t have to be complicated—as long as you’re thorough and base your budget on actual needs. Make sure to account for materials, labor, and an emergency fund to avoid overspending.
And when it comes to temporary storage during renovation, let SpaceHub be your trusted partner in creating a cleaner, more organized living space.
