How to make the most of $10,000 when renovating

There is little doubt about it - Australia is a renovation nation. Whether it's painting a house or doing a bit of garden DIY, it's likely that you've been a part of it at some stage!

In fact, statistics from IBISWorld show that Aussies spend about $55 billion a year on renovating their homes, which equals an average of around $6,150 per household. What's more, this total is expected to exceed $60 billion before 2017. 

A report from Westpac adds further weight to these findings, as it revealed that the number of residential alteration and addition projects surged almost 150 per cent in the four years to November 2014.

"Existing home owners who may once have looked to upgrade into a new home are choosing instead to renovate, adding desired rooms, features and cosmetic changes," said Westpac General Manager of Retail Banking Gai McGrath.

In light of this, let's say you've got $10,000 burning a hole in your pocket. What kind of renovations will give you the most bang for your buck?

Painting

This is one of the easiest alterations you can make - not to mention that it is also one of the cheapest and most effective!

Doing a bit of DIY painting can rejuvenate your home. For example, according to Solatube, if you've got a room that doesn't receive much natural light, painting the walls a lighter colour can do wonders for brightening the space and removing the gloom.

Complete Home affirms that a standard three-bedroom property DIY painting job (both inside and out) will cost you around $1,600. Talk to your local team at Kennards Hire if you would like to know more about how to paint a home.

Insulation

If your home lacks insulation or it is quite old, it's likely that there will be little to stop heat from flowing out through your roof, walls and floor. According to the Department of Industry, Innovation and Science, a home that is well-insulated will assist in keeping your home cool in the summer and warm in winter - effectively slicing your heating bills by up to half!

Kennards Hire can offer all of the tools you require, regardless of whether you're renovating the bathroom or the bedroom.

Create an outdoor entertaining area

With summer knocking on the door, now is a perfect time to be outside enjoying the sun's rays while rotating snarlers on the BBQ.

Making use of the range of excavators from Kennards Hire can help you with your DIY paving in the backyard, among other things, to ensure you've got one of the best outdoor areas in the neighbourhood.