How to pay for polished concrete in your home renovation

Looking to add polished concrete to your home renovation? It’s important you have a clear understanding of the price range of this material for your budget and home improvement goals.

Generally speaking, the cost of polished concrete depends on the size of the space, ranging from $25 per square metre to $100 per square metre. That being said, the average cost of polished concrete floors is around $50-$60 per square metre, leaving Australians out of pocket by $2,500 for a typical installation, according to HiPages.

Depending on the size of the space and the polishing technique, you could be looking at a cost estimate around:

Source: HiPages.com.au

What factors affect the cost of polished concrete?

Polished concrete is a popular home renovation material, providing a premium-feel to any room, and working to brighten a space by accentuating light. It is also low maintenance, durable and stain resistant. It’s no surprise that the technique of polishing concrete is becoming increasingly popular, particularly from usage in shows like The Block.

For your home improvement project, keep in mind that there are several factors that can impact the overall cost of installing polished concrete:

• Size – as mentioned above, the size of the space you want to apply polished concrete to will significantly impact the total cost. Despite what you may assume, a smaller space will typically cost you more than a large space, as the detailing and setup required is generally more extensive.
• Type of polished concrete – Choose between grind and seal concrete, honed concrete, or mechanically-polished floors. All of which have different price levels.
• Type of finish – The cost of the finish will also impact the price. The most popular are cream polished concrete, full or exposed aggregate finish or salt and pepper finish.
• Floor condition – The condition of the floor you’re working with can also impact the overall cost of installation. The more damaged, cracked, and rough a surface is, the more repairs and upgrading it may take to bring it into a workable condition.

How you could finance the installation of polished concrete

Just like any aspect of a home renovation, it’s clear to see that it can be easy for costs to run away from you when considering polished concrete. Be sure to set your budget and stick to it before you begin the process of looking for quotes.

If you’re unsure how you can finance installing polished concrete, it may be worth considering a home renovation personal loan. Personal loans can be a competitive option to finance a renovation as, upon gaining credit approval, they are delivered as a lump sum with a fixed term. Meaning that unlike a line of credit, you have a set repayment period that ensures you’re more likely to pay off the renovation debt and are less likely to accrue more.

Further, if you don’t want to lower your property’s equity or fuss around with refinancing a mortgage, a personal loan can be a more convenient alternative. Drawing down equity in a home to pay for renovations can lower your loan-to-value ratio (LVR). If property prices fall, or if interest rates rise, this can put you in a riskier financial position. You may even be at risk of falling into negative equity.

Compare home improvement personal loans today

Compare personal loans