Is Remodeling a City Apartment More Expensive Than a House?

Renovating is more than a simple lick of paint if you wish to profit from a property flip. From structural fixes to new flooring, there’s a lot to consider if you’re looking to complete a tenant worthy renovation. Apartment VS home renovations have been an age-old discussion.

Traditionally, homes have offered more square footage than apartments, but newer flats today offer the space new build homes do, making it difficult to compare the size of the jobs.

So, is remodeling a city apartment more expensive than a house?

The risk of cheap renovations

We get it, you’re trying to save money, as everyone is. If you’ve been lucky enough to find a BMV property, you might consider yourself the master of deal finding.

But there’s a big difference between being budget-conscious and being stingy, to the point of putting the property at risk. Cut too many corners, and you’re not saving money, instead you’re creating future problems.

Think peeling laminate, leaky showers, and doors that don’t close properly. If you’re planning to rent or flip, cheap finishes will bite you in the… ROI.

The difference between repairing vs renovating

Repairs are fixing what’s broken. Renovating is the glow-up. And guess what? Apartments often come with body corporate restrictions that can turn a simple renovation into an expensive nightmare.

For example, if to move a wall, that might involve half a dozen approvals with the building, council and the neighbors (yes you need to ask your neighbors for approval.) With a house, it can be the same case, especially if it’s a heritage listed, which is a whole other ballpark.

Common renovations involved with apartments

Apartments tend to be more cosmetic, think kitchen makeovers, new floors, fresh paint. But don’t be fooled. Small doesn’t always mean cheap.

Materials still cost the same per square meter, and sometimes even more when you’re working in tight spaces. Plus, lugging a fridge up five flights of stairs because the lift’s too small? That’s a hidden cost in sweat and tears.

Common renovations involved with a house

Planning a refurbishment on a home? They can be the Wild West. You’ve got roofs, foundations, plumbing surprises (the horror of 1950s piping), and don’t forget landscaping. The upside in this cash loss?

You can go big. Add a deck into the garden, extend a room, knock down a wall, you name it! But freedom comes with a price tag, and also passing building regs (which can be a nightmare). And sometimes, a skip bin the size of a boat.

Finding the right contractors

Ah, trades. When you find a good one, never let them go (unless they try to trip you off). Whether you’re renovating an apartment or a house, the quality of your contractor can make or break the job (and your sanity).

Pro tip: check if they’ve done apartment renovations before! The building management won’t love it if your plumber blocks the lift on a Monday morning.

Weighing up the cost vs return of both

Apartments often mean lower initial outlay, but limited renovation potential and tighter regulations. Houses let you go wild creatively, but come with a bigger price tag and more risk.

So what’s better? That depends on your strategy. Long-term rental? A sleek apartment in a great location can do wonders.

Looking to flip? A house with good bones might offer more bang for your buck when you finish the job and refinance the property with its new breathtaking value.

How to save money during your renovation

Plan like a maniac. Seriously. Every "oops" costs money. Get multiple quotes. Source materials yourself when possible from auction sites or closing down sales.

And don’t underestimate the power of a good paint job! It’s the cheapest facelift your property can get. Also, avoid changing layouts unless you really have to, as moving plumbing is not for the faint of heart, or smaller wallet.

Final thoughts

So, is remodeling a city apartment more expensive than a house? The short answer is that it depends.

The long answer is you’ll need to consider the size, restrictions, goals, and how much of the work you’re willing to do (or pay someone else to do while you watch on with a coffee). Either way, spend smart and renovate like you mean it.