12 Jun How much can building a house cost?
Are you thinking of a building a new home for the first time? Maybe, you’re building again, but it’s been a while. The first question people ask and possibly one of the most important things to understand early is the the cost of building a house. The cost of building a home is dependent on a variety of factors and there is no one size fits all answer to the question. In this article we discuss some of the most common things that will impact the cost of building your new home.
The size of your home
The cost of building your new house will always be dictated by how big you want it to be. This is where the design of your home becomes important. Understanding the size of your land, what you want to achieve with your home and your overall construction budget is critical at this stage. All builders can usually give you a budget estimate using a square metre rate. If you’re talking to a high volume project builder they will typically come in at a low initial square metre rate, however there are usually a list of exclusions.
It’s important if you’re comparing builders to take into account what is included and excluded in an initial estimate. If you are looking for a unique home that is custom built you will typically be looking upwards of $2,200 per square metre. The bigger your home is the more it will cost to build. Talking to a designer or builder early can help you maximise what you want from your new home build within a budget that will work.
Your land will play a role in how much it will cost to build your new home. If there are access issues associated with building on your block of land this will factor into the cost. If you are looking to build a home on a sloping block of land this can also factor into the cost if there are additional requirements associated with excavation. Being located in a bushfire zone can limit the type of materials that can be used in your home and may play a role in the overall cost of your new home.
Usually a builder or home designer will conduct a site visit to learn more about the land you will be building on and how to best maximise it for functionality while taking into account the cost to build specific to your circumstances.
The finish of your home
The finish of your home will influence what it costs to build. There are endless possibilities when it comes to materials that can be used and the cost of those materials can fluctuate. The type of home you’re building and what it will be used for can also dictate the level of finishing. If you are building an investment property you may use a lower quality finish in comparison to if you’re building your dream home. Costs can rise quickly with the quality of the finishes in your home. If you’re comparing builders and quotes pay particular attention to what type of finishes are included in the home. Potentially you can look at areas where you can have a lower quality finish to maintain the cost of building your home within a set budget.
The cost of building a new home is something that will vary depending on a variety of factors. Hopefully this article has given you a bit of insight into how much building a house can cost. Want to discuss building your new home with an expert. Contact us today.