Wellington sellers are asking a sharper, more commercial question than ever: how much more do renovated, turnkey homes actually sell for, and when does renovation stop paying?

Rather than generic renovation advice, this article sets out the data-led framework Lowe & Co uses suburb by suburb to quantify renovation premiums,  helping owners avoid overcapitalisation while maximising sale price. Grounded in local buyer behaviour, real sales evidence, and Lowe & Co’s collaborative sales model .

What “Renovation Premium” Means (And How We Measure It in Wellington)

Renovation premium is the sale price difference between renovated (turnkey) homes and comparable original condition homes in the same Wellington market, measured under consistent conditions.

How Lowe & Co Measures It (No Guesswork)

• Matched-pair analysis: Same suburb, similar land size, bed/bath count, and sale period
• Comparable clusters: Tight groupings where exact matches aren’t possible
• Reported outcomes:

• Dollar difference (median + range)
• Percentage uplift
• Sale dynamics (competition, buyer urgency, days to sell where available)

All outcomes draw from Lowe & Co sales records, supported by public comparables, avoiding national averages that don’t hold up in Wellington’s micro-markets.

The Buyer Behaviour Behind Turnkey Demand (Wellington-Specific)

In Wellington, buyers consistently favour homes requiring minimal immediate work, especially first-home buyers and downsizers prioritising certainty and speed.

Why turnkey homes attract stronger competition:

• Cost certainty: Renovation budgets are volatile; uncertainty is heavily discounted
• Time pressure: Trades availability and consent timelines add risk
• Finance friendliness: Move-in-ready homes are easier to finance without “future works” caveats
• Climate reality: Warmth, dryness, and liveability matter more than cosmetic flair

This psychology shows up repeatedly in Lowe & Co’s sales outcomes and aligns with current Wellington buyer guidance .

Wellington’s Renovation Premium — Suburb by Suburb

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Rather than claiming fixed premiums, Lowe & Co publishes measured suburb outcomes once data thresholds are met.

How Suburbs Are Grouped (So Comparisons Stay Fair)

• Family focused: Karori
• Lifestyle & coastal: Miramar
• City fringe character: Brooklyn
• Value/entry corridors: Areas where buyers tolerate more “do-up” stock

Results Dashboard (Publication Template)

For each suburb, Lowe & Co reports:

• Renovated median sale (matched set)
• Original condition median sale (matched set)
• Dollar and percentage premium
• Renovation elements most linked to buyer competition (e.g. kitchens, bathrooms, warmth upgrades)

Which Renovations Actually Add Value in Wellington

Buyers pay for reduced friction, not personal taste.

Renovations With Consistent Market Recognition

• Functional kitchen and bathroom upgrades
• Improved layout and flow (where feasible)
• Additional bathrooms or improved bedroom utility

“Comfort & Confidence” Upgrades Buyers Notice Most

• Insulation, heating, and ventilation
• Weather tightness signals
• Neutral, durable finishes that remove immediate objections

Overcapitalisation Risk: When Renovation Doesn’t Pay

Renovation premiums are capped by suburb ceiling prices and buyer pool depth, not renovation spend.

Key risk tests Lowe & Co applies:

• Ceiling price test: What have the best comparables actually sold for?
• Buyer pool test: Owner occupier led or investor heavy demand?
• Spec mismatch test: Are you over improving relative to surrounding stock?

Even nationally, premiums for “better condition” fluctuate, reinforcing that renovation ROI is market independent, not guaranteed.

Case Studies: Before & After Wellington Sales (Lowe & Co)

Each case study follows a consistent, builder-respecting structure:

• Suburb and buyer profile
• Starting condition and market objection
• Renovation scope (cosmetic vs structural)
• Indicative spend band
• Sale outcome vs original-condition comparables
• What triggered buyer competition

These examples show where renovation unlocked margin, and where restraint preserved it.

Should You Renovate Before Selling? A Practical Decision Framework

Snippet ready checklist:

• Are turnkey buyers dominating your suburb right now?
• Will the renovation remove the top one or two buyer objections?
• Are you renovating into/not past the suburb’s proven ceiling?
• Can the likely premium be validated with recent matched sales?

If the answer is “maybe” rather than “yes,” pause, and measure first.

Talk to Lowe & Co Before You Renovate — Not After

Lowe & Co’s team based model means sellers don’t rely on one opinion, they access collective local expertise focused on maximising price outcomes .

Next steps:

• Request a suburb specific renovation ROI check
• Build a pre-sale plan aligned to current buyer demand
• Validate renovation decisions before committing capital

Because in Wellington, the smartest renovation is the one the market is prepared to pay for.