Even before planning to build your own house, the first question you want to ask yourself is how much you can afford to spend. The extent of your requirements and the team you hire would all depend on this significant factor.
Estimating the cost would give you an approximate idea of how to proceed during the build. The costing depends on a myriad of factors when it comes to construction. Let us take a look here are different scenarios.
Cost Estimation of a New Home
While considering to build a new home, the first thought should be given to the property. With the current market values in Australia, the land prices are much higher than what the construction of a new building would cost. But this, of course, would depend on what you are building.
Different states and cities in Australia have significant differences in construction and land prices. It could vary from, $233 per square meter in Hobart to $933 in Sydney. On average, the cost of a new build falls between, $1100 to $1500 per square meter. There are also other factors that affect this price such as
- The quote put forward by the builder
- The location of the site
- The area of the floor plan
- The quality of construction materials.
- Conditions of the site.
This price per square meter is excluding the services fees of the architect or the designer, or any other factors outside the construction. It does not include the costs of getting building permits, approvals, and the other necessary elements like insurance. If the site has a slope, it would add an additional 10% or 20% more to the cost. Below are the average cost estimates per square meter from a different area in Australia.
- Brisbane – Between $1700 to $3400
- Adelaide: $1550 to $3400
- Melbourne: $1365 to $2700
- Sydney: $1550 to $4350
- Perth: $1420 to $2263
- Canberra: $1530 to $2500
These are above the national average since they are popular cities. Small towns will have a much lower rate.
The quality of the construction materials used is another prominent deciding factor. Whatever the budget is, the new home Builders Brisbane have to comply with the standards and regulations set by the building councils.
There are many new trends coming up that has a significant reduction in costs. Prefabricated or modular houses are one such category. Any direction you go, ensure that the architect and the house builders Brisbane are aware of your budget.
Cost Estimation of Home Additions and Renovations
Home renovations and additions tend to cost more than building a new house. One main reason for this is that the remodelling and additions include a part to restructuring the existing home and then work on it as a new one. There are also chances that there would be complication along the way. New home construction also takes lesser time than additions, depending on the extent of it.
If you take a room extension, say for 10-meter square area, according to the current rate it would cost you
- $57,000 to $68,000 if it is a budget room
- $119,000 to $143,000 for a luxury room and
- $82,000 to $98,000 for a room with ensuite bathroom.
Typical home extensions have much larger areas than 10 m2, and the cost of that could get only higher. If there are more parts included in the renovation or addition, it could affect the costing too. Here are a few scenarios to bear in mind.
- Bathrooms cost more for additions
- Kitchen extensions are costlier than bedrooms
- Demolitions are expensive
- If the parts of the building are difficult to access, the costs would be higher.
- Depends on site conditions
- Type of fixtures and fittings ranging from budget, standard or luxury.
Along with this, a home addition would also include the other charges that come along with new home constructions like the council fees, architects fees, and cost blowouts. If you are looking to have a cheaper alternative, experienced builders could help you with that.
A licensed builder who has plenty of experience working with different house designs Brisbane has would be able to offer expertise on how to proceed with an addition. This could make you consider to avoid hiring an architect but a drafter who can help draw the relevant floor plans alone.
A builder might be capable of creating their own drawings, but you will need the proper set of drawing to get the required council permissions. Unless it is a complicated situation that demands the supervision of an architect, this is a good way to approach it.
Another way to reduce home addition costs is by working on a structure already existent on the property and remodelling it to suit your needs. If you are hoping to add a guest room or workspace, even a shed or the garage could be transformed into any space and integrated well into the existing house. Remodelling smaller structures cost much less than additions and extensions.
Granny flats and sheds also open opportunities to gain additional rental income. In a city, this space could be considered big enough to be a studio apartment itself. For smaller spaces also, modular designs are kits also available. You can further customise it to suit your needs, but the expenses of it would be minimal compared to adding a new structure itself.
Conclusively, the costing depends entirely on what kind of house you want to build and where you want to build it. Even with the average construction costs across the country, it is the minor details that would add more expenses.
The costing could also depend on the type of builder and the quality of work. There could be a notable difference between the costing done by multiple builders. It is hence crucial to compare each quote and figure why the difference.
Low costing does not always provides the best value. Clear any clarification regarding the estimates before you hire the builder.
Start by finding the best builders Brisbane has. Reach out to Trustco, and we are more than happy to help you find them.