Browse Forums General Discussion 1 Jan 24, 2011 9:17 pm Hi all, We have bought a beautiful big block of land to build our house on. It's 3700m2, basically a big paddock with some lovely trees, and we want it to be our home for many years to come. Luckily we are not in a hurry to build, because I am really struggling to understand how to create a budget to predict what we can afford for this house. Do I get my dream home drawn up then approach builders for quotes and work that way, knowing how much we can afford to spend but not having a clue how much each thing generally costs? Or do I do research based on generic costs and then draw the plans according to that? If so, how do I know what questions to ask for prices etc if I don't even know what the house will be able to be size wise etc? I know what I basically want but it doesn't include measurements or quality levels of kitchen, bathroom etc yet, Does that make sense? I feel like it's all a bit chicken and egg at the moment. My father is an architect and he will design the house for us, and then we will go through a private builder (project homes are not allowed on the land we have bought for some reason) so should I be waiting till then to even try and make a budget? I'm not particularly comfortable not having any idea of costs. Plus I don't want to waste HEAPS of time having to re-do plans if what Dad draws ends up being wayyyyy over what we can afford. We've done lots of research on project homes and spoken to friends who have built them but no one has a breakdown of costs for each process ie slab, frame, roof etc. It's all progress payments and a final figure. The other thing we have to consider is that we are building in a Level 3 bushfire zone so we have very strict rules to follow which inevitably will end up costing more money. Thankfully we are in a good financial position, but I just feel a bit blind at the moment, like I have a beautiful home in my mind but no concept at all of how much it would cost and I would like to be more prepared before we start drawing. How did you work out your budget vs your plans? Was your chicken or your egg first?? Any ideas, suggestions, or advice would be most appreciated please! Re: How do I know how much to budget??? 2Jan 24, 2011 9:22 pm The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: How do I know how much to budget??? 3Jan 25, 2011 7:07 am A budget of $1250 per m2 or $11k per square should be enough to build a modest home, through a small/medium volume builder (mine does about 30-40 homes per year) It would have fairly basic fittings for the most part but some upgraded stuff in select areas. Also you will need to add the extra cost of the fire zone requirements on top. I have no idea what they might be. You would have to add site costs on top of that though. I think you should be able to get a 30sq home for $330k from most builders, especially if you don't have to pay an architect commission. Re: How do I know how much to budget??? 4Jan 25, 2011 12:31 pm When we were determining budget the architect played a big part in this - we told him around about what we anticipated spending - and then what our requirements/hopes were for rooms, space, layout etc - at that very time he told us we wouldn't be able to get all that for the price we said - so cut things back a bit - bear in mind though that best laid plans for a budget sometimes are just that - and inevitably go over... If you have a builder/s that you are a considering working with - or your Dad has contacts with being an architect - you could see if you could get them to sit in on the planning stage and have input as to the whether what you want is viable - even if you had to pay a small fee to do this, def worthwhile... IMO Building on the Sunshine Coast - Land settled 22nd July 2009 Building contract finally signed (after much deliberation on our part) 11th November 2009 Building commences 25th January 2010 - small local builder End of June - almost completed fit out 26th July - MOVE IN DAY!!!!!!!!!!!!!! Coming back to your old stomping grounds, huh? Renovations on a budget can be quite the journey. It's like giving your house a new lease on life. The twist of not knowing… 1 3476 I had an old shower unit that broke on me and when I took it off, there were only 2 water pipes, instead of the normal 2 water pipes and a shower head pipe. S o I… 0 36937 The most definitive answer to your question James is this taken from the James Hardie Axon Cladding Installation Guide - i just happen to have it… 5 3664 |