1. Home
  2.  / Six Cost Effective Reno Ideas

Six Cost Effective Reno Ideas

We’ve teamed up with the good people from Builderscrack to give you a rundown of the most cost-effective ways to add value to your investment property.


4 April 2022

The property market seems to have maintained its upwards trajectory, but if you’re not in the right space to trade (or it’s just not your cup of tea) renovation of existing properties is a great option.

From paint jobs to new bathrooms, here’s some useful information on what different renos are likely to cost and how they can add value to your home. See builderscrack.co.nz for access to tradies near you.

1 Exterior Painting

Single-storey: $4,000-$7,000
Two-storey: $12,000-$27,000

Cost cutting

The Builderscrack team says that If you’re up to it, you can prep the exterior ahead of painting, which can entail water blasting, scraping off the original paint and sanding down (depending on the exterior material).

• Mostly hot, cold or coastal climates will require more frequent maintenance which could impact your choice or quality of paint.
• Factor in scaffolding if you’ve got a two-storey, sloping property or architectural build.

• Boost street appeal.
• Create great first impressions.
• Modernise property.

2 Interior Painting

Two-bedroom house:
$2,000 to $7,500
Three-bedroom house:
$8,000 to $14,500

Cost cutting

You can decide whether your property needs a touch up or a full repaint. You can separate the reno into three different areas if doing touch ups: kitchen/lounge/dining/ hallways; bathrooms/toilets; and bedrooms. It’s possible to save on prep costs by washing down the internal walls ahead of painting.

• If you’re in-between tenancies, ensure you check the dry time of paint – consider an all-inone primer and paint if you’re pushed for time.
• Neutral colours will fit with most tenants’ furniture and belongings.

• If the wallpaper is in good condition, it can be painted over – note however, that once painted the wallpaper will be more difficult to remove.
• Bathrooms and hallways tend to need a more scrubbable, glossier sheen.

• Lighter/brighter/fresh
• Can reduce odors
• Neutral themes will attract a wider range of tenants.

3 Kitchen Reno


Installation/modification only


Kitchen and installation:

Basic $10,000-$30,000.


Variety of kitchen options to suit most budgets:

• Kitset kitchens (ie Kaboodle) and separate installation.

• Custom kitchens.

• Modification: Replace countertops; efficient appliances; cupboard doors.


• You may also need to factor the cost of removing existing kitchen.

• Kitchen materials of varying qualities available.

• Consider the layout whether it will be used by a single person or family.

• Don’t overcapitalise.

• Kitchen renovations may require many tradespeople including, but not limited to: plumber, electrician, builder, plasterer, tiler, painter, benchtop specialists, cabinet maker/ installer, flooring specialist, kitchen designers.


• Added capital value.

• Rentability and potential increased rental appraisal.

• Improved functionality.

• Reduced maintenance.

4 New Carpet Budget

Carpet installation only:

Approximately $200-1,000. Carpet and laying: 10m2-50m2 approximately $500 - $3,000; 50m2-75m2 approximately $1,500-$5,000; 75m2-100m2 approximately $4,000-$10,000

• You may also need to factor the cost of removing the existing flooring into the job.
• Laying carpet is a specialised trade skill and requires professional tools.
• Carpet is often sold by the broadloom metre (BLM). This can be confusing to many when it comes to estimating price. One broadloom metre is equivalent to 3.66m2 – can be sold as a 4m-wide roll, resulting in 4m2.

• Rentability and rental appraisal value.
• Added capital value.
• Better heat and acoustic insulation.

5 Garage Conversion


$2000 - $50,000+ (excluding council costs)

• Decide whether the space needs plumbing for either a bathroom or kitchenette.

• You will need to do your research on: council consent; zoning; development contribution, and similar property values and rental yields in your area with conversions to ensure you don’t over capitalise.
• There’s a wide range of works that may need to be completed for consent, such as; insulation, wall framing, windows; ducts and vents/heating and cooling; electrical wiring.
• Factors such as limited offstreet parking and poor storage options within the house can be a downside to converting a garage space.

• Adds significant value and buyer appeal.
• Point of difference to other properties in the same area.

6 Bathroom Reno

Full bathroom renovation: basic and midrange $5,000-$30,000. Modifications or minor changes: $500-$20,000

• Consents may need to be obtained for walk in shower/wet rooms.
• Moving positioning of bathroom units will impact on the cost.
• Consider cost and quality of fittings. Cheap isn’t always the best option - leaking water can cause structural damage and be expensive to fix.
• Don’t skimp on waterproofing and ventilation - ensure all shower units are appropriately sealed to prevent water capillary action.

• When shopping for toilets, make sure you opt for a model that can easily be retrofitted
• Use mould-resistant paint.
• Not to over capitalise.
• Savings can be made if doing more than one bathroom at a time.
• Bathroom renovations may require many tradespeople including, but not limited to: plumber, electrician, tiler, waterproof specialist, builder, plasterer, painter, flooring specialist.

• Added capital value.
• Rentability and potential increased rental appraisal.
• Addresses outdated leaky plumbing/ fixtures and prevents long term damage.
• Improved functionality.
• Reduced maintenance costs
• Attract good tenants.


Related Articles