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New online tool helps estimate reno costs

If you’ve been watching The Block recently, you may have noticed that Suncorp and CoreLogic are both among the sponsors. 

The pair have teamed up to launch a new renovation calculator, aimed at helping those inspired by The Block work out the cost of home renovations, according to the room, renovation type, and particular suburb you are renovating in.

The calculator provides estimates of renovation costs from internal painting, to a complete bathroom redesign, with each renovation project providing a question string that generates a separate estimated cost depending on the user’s answers.

“Finances are top of mind for most Australians and with people spending more time at home, we know that many Aussies are starting to think about how they can make their house feel more like home,” Suncorp Executive General Manager Lending, Glenn Haslam, said.

“Before starting any renovation it’s important to start with a budget. Suncorp’s renovation calculator helps provide tangible guidance on the likely cost you could face depending on the scale of your renovation.

“Our Suncorp lenders and brokers can also help prospective renovators understand options to finance their renovation while also balancing their financial goals,” he added.

CEO of CoreLogic International, Lisa Claes, said the calculator was a meaningful tool that would help people understand the costs of different types of renovations.

“The renovation tool utilises data which is updated quarterly to estimate the cost of renovations, including trades, services and materials based on the customer’s location and quality of fixtures used,” Ms Claes said.

“All facets of the build, including labour and materials, are incorporated, which helps to more effectively estimate the total cost.

“The renovation trend in Australia has been steadily increasing, especially in the current climate with people spending more time at home contemplating home improvements.

“Schemes such as the HomeBuilder grant have also meant that more people are inclined towards a renovation over relocation.”

Access the Suncorp Renovation Calculator here.

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Nathan Jolly

Nathan Jolly was an in-house journalist with Elite Agent. He worked with the company from July 2020 to December 2020.