Renovation budget: why price per square metre is not enough

Area is only a starting metric. Two apartments of the same size can have very different budgets due to demolition and engineering requirements.

What is the key practical principle?

Break the budget into stages: strip-out, rough works, engineering, finishes and final installation.

This structure shows where optimisation is sensible and where saving money could create future problems.

Which details and mistakes increase risk?

Budget engineering separately. The number of electrical points, distribution board specification, plumbing, heating and air-conditioning can materially change cost, and cutting corners on concealed systems can become particularly expensive later.

Split the budget into labour, rough materials and finish materials. This makes spending transparent and shows how each design choice affects the total. An expensive tile choice should not be confused with essential waterproofing or substrate preparation beneath it.

How do you make a practical decision?

On existing properties, include a sensible contingency. Hidden defects may appear after demolition, while design changes can create additional work. A reserve helps you avoid sacrificing technical quality halfway through the project.

When comparing quotations, compare scope, quantities, exclusions and the method used to price variations, not only the final total. A lower figure often means a different scope rather than the same work being delivered for less.