Final build price Vs Advertised price

Hi, I would like to know, for people who've completed a home, if they can shared their experience in how much the final cost was compared to a homes advertised base price.

Suggested format:

Builder:
Advertised Base Price:
Final Cost: (including site costs and allowances etc)
Upgrades: (Optional short description of upgrades)

Cheers

Builder: simonds

Advertised base price: $187,900

Final contract cost: $228,165

Upgrades: we had a promo that gave us 45k of upgrades for 18k as well as free upgrade to colourbond roof and stone benchtops.

Let me know if you'd like to know what was upgraded/ added

Building the Simonds Palisade in Gippsland

https://r.tapatalk.com/shareLink?share_ ... are_type=t

(In WA)
Dreamstart
Advertised - $170,910
Final - $191,000
Upgrades - $10Kish


Modified Dream Verona - Dreamstart
10m Frontage Block - Dreamstart Build - Calleya Estate
http://forum.homeone.com.au/viewtopic.php?f=31&t=85632

Builder: Express Two Storey (Ventura Group, WA)
Advertised Base Price: $267,460
Final Cost: $306,665 + approx $18k pre-start changes
Upgrades: Addition of a study, WIR, store space at rear of garage and attic storage space in roof. Completely changed the upper floor layout. Increased ceiling height, increased window sizes, ducted air conditioning, floor coverings, timber venetians in bedrooms, skirting boards, a lot of kitchen and bathroom upgrades (overhead cabinets, painted cabinets in kitchen rather than laminate, extra tiling, stone benchtops, upgraded fittings etc). Soakwells, driveway crossover, European house borer resistant timbers.

Builder: Sicily by Fairmont Homes (SA)
Advertised Base Price: $110,000
Final Cost: $154,000 (16k site costs included)
Upgrades: reverse ducted aircon, kitchen window splashback, stone benchtops, downlights, feature pendants to kitchen and master bdrm, 2.7m ceiling height, upgraded insulation everywhere, bushfire, upgraded facade, 90cm cooking appliances, 2m high tiling, upgraded taps basins shower screens floor wastes etc

Builder: Custom builder in SE Melbourne
Advertised Base Price: approx $160k
Final Cost: $180,300 (inlds additional 6k of Site Costs from base price, and 4.5k for rendered brick front fence)
Upgrades: 2.7m ceilings, double glazing, stone benches throughout, upgraded laundry cabinets, extended kitchen benches and overheads, porcelain tiles throughout, upgraded carpet to cat 2, sarking in roof, awning window throughout, exhaust fan to laundry, split system air con.

Who is the builder? That price seems very low for custom build? Are you happy? How big is your house?

Happy to PM you the builders name.

I'm happy enough with the house, but very unhappy with progress or lack thereof.

My house is quite small, its a 3brd, single garage, 2 bath, 16 square house on a 294m2 lot.

Its custom, because my builder is small, so they don't have standard floor plans.. but its not architectural or anything like that.

Should also mention that my build price was locked in late 2014.

Yes please! We are at $467k for 4b 2b 27 square house but starting to think it's very expensive!!

That does seem very expensive!

We are at 340 (incl 45k site costs) for a 4 bed 33sq home with lots of upgrades!

Is that a custom or volume build? Who is your builder? PM if you prefer. Think I need to look at some other builders.

That sounds very expensive is it for an architect designed home or off the plan? Most architect designed homes cost at least $100,000 - $200,000 more to build. It also costs more to build some states, I think it is cheaper to build in major cities, towns in the eastern states.

In Melbourne if you spent more than $15,000 a sq you would be expecting a high end finish with luxury upgrades.

It's not an architect design but it is custom designed so not off the plan, have 2.7m ceilings, timber double glazed windows, 33m2 of merbau decking, double driveway, solid timber floors, 60cm caesarstone benchtop, anyway I think i should speak to a couple of other builders as I had worried the cost was too high.

If you are in Melbourne have a look at Arden Bespoke, they have great standard inclusions and will work to your plan. I love their homes, but slightly out of reach for a FHB. It will be much cheaper to do your flooring, driveway and decking post build. Builders margin is about 30% on top. You can do these things externally and still include them in your home loan. You just need to give your lender the quotes.

Great. Thanks so much! Will look at Arden. Cheers

I'm surprised so far the final prices put up so far haven't been more that 50K or so above the advertised price with similar upgrades I'm considering. My initial research has given me the expectation of factoring in at least 80K -although I'm looking to build in Melbourne area.

Banks & Lenders have advised Home owners & Builders not to blow out the costs of upgrades
Here are some acceptable approx. upgrade percentages for first Home Buyers
Base price (basic Single Storey GF $800/m2, Double Storey 1F $1100/m2)
Site works +3-5%
Fittings & Finishes +10-12%
Landscaping/Fences/Paving +2-4%
Do The math is you new house overpriced?

For us, the base price was 215 and we've just signed final contract at 278. Not heaps of upgrades, but a few.

- Site costs around 21.5K
- Upgraded facade 10K
- Evaporative cooling 5.5K
- Concrete paving (driveway) 5K
- Other bits and pices like some roof stuff, fibre optic cable, upgrades for colour and electrical, some doors, took up the rest

I remember when we were trying to budget for it finding it so hard to convert a base price into an actual price. Good luck with it.

Builder: Porter Davis - new build
Advertised Price: $189k
Final Price (although we're not at contract yet but this should be pretty accurate) $283k.
$20k site costs (estimated)
$17k structural changes/upgrades
$23k promotions
$6k electrical upgrades
$4k estate covenants
$6k upgraded carpets
$5k extra cabinetry
$6k air con
$6k bushfire allowance

I should have added to the template whether the build was brand new or a knockdown-rebuild. From what I've read a KDR adds a lot to the site costs?