It’s the question you’ll most probably arrive at once you’ve decided to build your own home. It’s important to know how much budget you have to actually shell out given that building a house can be costly. But the exact figure as to how much it entails can be complex.
Many variables contribute to the final cost of building a house. For one, custom home designs can have an array of different factors. These are considerations you’ll need to factor in but perhaps the baseline of the cost matters by cost per square metre (sqm).
Here’s a data to help you get a rough estimation. Taken from Rider Levett Bucknall’s Riders Digest 2019 Melbourne, Australia Edition, the data shows price per square metre across different major cities in Australia.
|STATE||Cost range per floor area ($/m2) – Low||Cost range per floor area ($/m2) – High|
As seen in the table, the cost depends on the state you live in, so think about which part you’d like to build your house on. Also consider stamp duty as cost, planning permits, site works, and other fees. Which custom home builder you choose will also matter.
Rates go up depending on the number of rooms too and the quality of inclusions of your custom-built home. Overall, you need to take into account the following important as recommended by custom design home builders:
- Size of the property
Even new home builders agree that all aspects in building a house will have to depend on the size you want to build—bigger house, more expensive. It’s important to have this sorted out at the beginning so you’ll most likely be able to plan how much you need to invest.
- Site or land
Factors like land slope, terrain and condition, and site property will very much likely affect the final cost of your house. You can always ask professional custom design home builders in Sydney to know how these factors about land features will affect your decision in building a home.
Specialised equipment, better furnishing, type and quality of materials, even for tiny home buildings, practically put a large impact on the cost of your home. High-quality materials will most likely demand finer building artistry.
- Complexity and design
How intricate will your design be? Or are you still looking for a design for your house? Whether custom built home designs or ready-plan designs, the complexity of your choice, layout, even additional landscaping and any additional provisions you prefer will be added to the cost.
Estimated time of completion even adds weight to the cost, whether you’d like it to be shortened or for other several factors like weather. It’s best to prepare for these circumstances.
It can be frustrating especially that it’s likely that pricing can increase year after year. But building your own custom-designed home can often be cheaper. Get your calculator and start planning now! Best of luck!