Browse Forums Building A New House 1 Nov 03, 2021 8:06 pm We're trying to figure out what we can get on our build. Assuming you're building a new 350sqm house in Sydney, and you had a budget of $1m. What would you do? Go with a project builder like Clarendon and get all the extras? Try to find an architect who could work to that budget? One of the in between builders? The number doesn't seem like enough to go totally high end, but it also seems enough to go beyond the standard project builders. But I'm not sure what I'd be getting for the extra spend. Re: What does a million dollars buy and where to spend? 2Nov 03, 2021 8:19 pm Construction cost 350m2 x $1,500/m2 = $525,000. This is a ballpark figure and can vary a lot depending on the finishes in the home. $1,000,000 - $525,000 = $475,000 for land including stamp duty and legal fees of maybe $20,000 or so. Can you find land you want for $455,000? And spend $525,000 on the home? Re: What does a million dollars buy and where to spend? 4Nov 04, 2021 10:53 am Phil of Sydney Construction cost 350m2 x $1,500/m2 = $525,000. This is a ballpark figure and can vary a lot depending on the finishes in the home. How can it be super cheap like this? Is it a single story or a double story? If a builder offers this price for a standard house, then even we upgrade to TOPNOTCH LUXURY of inclusions, another 250K max I reckon, unless we want weird/bizarre architectural features in your house. Then, it still works out at $2,200/m2 for a luxury inclusion house. I ask 5 builders to build for me a 320m2, double-story house, EER 6. When I said my budget is 620k, all of them were just smiling and denied, no discussion. Then, I had to increase another 100k and come back, they were then willing to talk to me. This is for Canberra though. Re: What does a million dollars buy and where to spend? 5Nov 10, 2021 1:55 pm Phil of Sydney Construction cost 350m2 x $1,500/m2 = $525,000. This is a ballpark figure and can vary a lot depending on the finishes in the home. $1,000,000 - $525,000 = $475,000 for land including stamp duty and legal fees of maybe $20,000 or so. Can you find land you want for $455,000? And spend $525,000 on the home? It's extremely unlikely for construction to be that cheap unless you're excluding site costs. With site costs included, our 380sqm house works out to be ~$1.8k/sqm. And that's with just the standard inclusions. Depending on taste/preferences, extras can very quickly blow out the budget. Ren_ho, unless you know exactly what you're after, then with that budget I would strongly advise against engaging an architect. Architectural builds are extremely risky on limited budgets. Re: What does a million dollars buy and where to spend? 6Nov 10, 2021 3:01 pm what a world we live in when 1M for just construction is considered a "limited" budget. 1M will get you a fair bit i'd imagine. have you spoken to any custom builders? They could provide you some information based on the projects they have complete within your budget. Usuallt photos, videos, drawings lists of finishes etc. That would be where i'd start. Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: What does a million dollars buy and where to spend? 7Nov 11, 2021 6:55 am Noname what a world we live in when 1M for just construction is considered a "limited" budget. 1M will get you a fair bit i'd imagine. have you spoken to any custom builders? They could provide you some information based on the projects they have complete within your budget. Usuallt photos, videos, drawings lists of finishes etc. That would be where i'd start. Correct. I think 1M can give you a decent customed double story house 350m2 in total (~2,800-2,9000/m2). With mid-range inclusions, it is $2,600/m2 already. That is what I was quoted by several medium and customed builders. So, another 100k will give you almost anything in the selection studio that you want, I reckon. Re: What does a million dollars buy and where to spend? 8Nov 12, 2021 11:53 pm I don't have any experience myself, but I am also thinking of going down the architect-designed route with a fairly similar budget. It's true that architect-designed builds have a reputation for being risky. My thoughts on that are to just be aware of your budget, and build within its means - obviously you're not going to get an artistic masterpiece by a rockstar, but there are definitely architects out there who do projects costing 1mil. The usual advice seems to be sensible - ask about their previous builds and check in with the clients to see if the archtect/builder was able to complete within budget. Re: What does a million dollars buy and where to spend? 9Nov 13, 2021 8:29 am Joolsie It's true that architect-designed builds have a reputation for being risky. 100%, 3D Bim Realistic renderings they present to you do not represent reality. it's an alternate FAKE Megapixel Universe LOL the images rarely stack up to the trusted Data/proofs, costs and Mega Bit Universe (humour) I tell clients to look inside the box... that's where their dreams collapse if you want proof take a look at their Engineering Details and data there isn't any.... they are experts at telling you to pay up + it will be sorted out by the builder later in the process (+,+,+...) = $ticker$hock (lol, Architects equation). Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: What does a million dollars buy and where to spend? 10Nov 13, 2021 1:55 pm I am trying to build a home on a sloping block in brisbane about 6 mtr sideways slope along 30 mtrs of frontage. I have contacted so many builders and i am finding it really tough to find anyone to build a 400 Sq mt home turnkey for even a million Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ . Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ Re: What does a million dollars buy and where to spend? 11Nov 15, 2021 6:56 pm Unfortunately, after a 2 years of engaging / builders / designers, my conclusion is that 1M will not get you much in this market. What used to cost $850k is costing $1M. What used to cost $500k is costing $677k. The government grant is going to do more damage than good. Less quality (in terms of both luxury quality AND defects) for significant more amount of money for customers, and builders being squeezed between customers and never-before-seen rise of material costs. We have lost mid-long term gains for a very short term gain to ride out the COVID. Re: What does a million dollars buy and where to spend? 12Nov 16, 2021 1:16 pm Sprocket Man Phil of Sydney Construction cost 350m2 x $1,500/m2 = $525,000. This is a ballpark figure and can vary a lot depending on the finishes in the home. $1,000,000 - $525,000 = $475,000 for land including stamp duty and legal fees of maybe $20,000 or so. Can you find land you want for $455,000? And spend $525,000 on the home? It's extremely unlikely for construction to be that cheap unless you're excluding site costs. We are building at the moment in Sydney and that's the $/m2 rate rounded up including site costs. All services are available at the front of the lot, no septic etc or long service connections needed. We signed a contract late last year with a larger builder and costs have gone up since. If the rise was 20% then it would now be around $1800/m2. Higher end finishes can take costs to more then double these numbers. A higher end staircase can easily be $25k+. Flooring can add hundreds of $$$/m2 if desired. Looking at some of the designs on websites, they are all selling very similar products. I get that you want something stylish. It's worth looking for search terms like SaveH2O… 2 7015 I've just built 3 stairs off a landing out the back and been told by the private certifier I need hand rails sorry tried to attach a pic but couldn't mine don't have sides… 5 5725 i had the my concreters concrete right up to the fence. I have pits all along my path, so the water tends to drain away from the house and into the pits. There's only one… 7 12802 |