Browse Forums Building A New House 1 Nov 26, 2011 8:17 am Hi, long time reader, first time poster. And I could also say first time builder. My fiancé and I have got pre-approval for $520k, and were looking to buy land + build with this total price at hand. As we can see the land may cost us about $280k(451sqm) and the home may cost up from $220k. (Double Storey) What I need to know is with that land price how much could I expect to pay on fees beyond that price? And Also with the home how much could I also exceed? Cause I don't think I can afford to exceed $520k at all. With not many people telling their full price they paid, leaves me to wonder If $520k enough for what I want. Regards, Chanskies Re: Building a new house and need price comparisons 2Nov 26, 2011 8:40 am I think you will need to look at a lower cost home. With reasonable site costs it is going to cost you more than 15% over the cost of the land and basic house combined. See Link http://www.anewhouse.com.au/?p=66. Problems with site costs and it could be 20-30% 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: Building a new house and need price comparisons 4Nov 26, 2011 9:00 am I don't like stairs myself so I think single storey is the way to go anyway 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: Building a new house and need price comparisons 5Nov 26, 2011 12:36 pm double post.
I'm such a such a noob Re: Building a new house and need price comparisons 6Nov 26, 2011 12:39 pm A couple of things you need to look at first. The size of the house you need over the size you want The area you are looking at building. Different estates can be significantly more expensive than others but are in teh same suburb with almost identical facilities nearby. Soil composition of the block you choose. Honestly allow $30k for site costs as that is not a figure that is by any measure high. These types of things are always on top of the house price. They usually allow for an "S" or "M" but H is not uncommon and the type of slab preferred by the builder can affect cost. Also remember that you will have to pay stamp duty and oher fees on top of all these costs and you will either need other funds to cover these or include them in your budget. FWIW a good figure to use per m2 is $1100m2 for a basic fitted house with entry level floor coverings anf appliances throughout. These may not be acceptable to you for teh finish that you want in your home. A basic formula would be: Land + $30k foundation allowance + house size (m2 multiplied by $1100) = $xxxk That will give you a basic figur eto work with. Re: Building a new house and need price comparisons 7Nov 26, 2011 1:11 pm Our house is a single story 27.35sq, the total cost was 234,000 on a slight fall. I don't think you will get a double story for that price. I also prefer single story, you don't loose any floor space, the stairs take up part of your floor space in a double story. It all depends on what you prefer though. Re: Building a new house and need price comparisons 8Nov 27, 2011 7:14 am $220K is a limited budget, keep in mind that you would have to go with a volume builder to keep costs down as custom homes do cost more. I'm building for a little under 230K and approx 24 squares, single storey / custom designed house Re: Building a new house and need price comparisons 9Nov 27, 2011 7:45 am It seems to me you might be cutting it a little fine! Is there cheaper land anywhere that you may consider?? You will need to pay stamp duty and legal fees on top of sale price of land. You can look up online how much your stamp duty based on which state you are buying in. Like others said, keep in mind site costs to add to the house price. Then add any upgrades or changes that you make to plans (which can add up very quickly), then add all the things you need to add to make your house into a home such as, landscaping, curtains, floor coverings, etc. There are lots of discussions on homeone about this sort of topic if you have a look around the forums. Good luck. Just make sure you do all your homework before you make any final decisions. Building a new house and need price comparisons 10Nov 27, 2011 8:53 am Ignoring land costs, the base price of our home was $194,000 approx. The total cost of the home with site costs, basix, upgrades, landscaping, turf, driveway, letter box, fencing, retaining and everything else is about $340,000. Land cost was $200,000. Basically house alone was $146,000 above the base price to complete. Building the Piazza 300 with AV Jennings / Sekisui House - https://forum.homeone.com.au/viewtopic.php?f=31&t=46023 Re: Building a new house and need price comparisons 11Nov 27, 2011 11:42 am Because land costs vary so much I will only comment on house cost... the base price for our 30sq single storey was $201,000 but then you add on the upgrades & extras & site costs our finished price was $265,000, and we were quite conservative with our extras. Then you have to factor in; fences, landscaping, curtains, air con etc etc on top of that finished price as these things were not provided by the builder... so it's a good idea to have a little extra money set aside for the miscellaneous items. We built with a volume builder too. Good luck Building the Milano30 Site start: 30th June 2011 PCI: 1st December 2011 Handover: As soon as the bank pays! Approx 16th December viewtopic.php?f=31&t=44051 Re: Building a new house and need price comparisons 12Nov 27, 2011 7:00 pm Thanks for all your lovely responses, I'm sorry I couldn't reply sooner. We actually put our deposits on land and a house off the plan today, we left room for about $20k for whatever costs may vary. Our total house costs is about $214,300k, which includes A whole heap of package inclusions like; Ceramic tiles to patio, entry kitchen, dining. Fire Rating cause it faces bushlands.(*$7k), also included 1200mm high wall tiling to ensuite & main bathroom Carpets to remainder of house Vertical blinds to windows (ex wet areas & gargage) Stencil Crete driveway (60m2) Stainless steel appliances Double power points throughout 5 sensor alarm package Fly screens to all windows Polyurethane Vanities Panel carved internal doors 67mm pine skirting Full ceramic toilet suites Rinnai infinity continuous hot water system Also got a $33k worth of upgrades at no charge. Which included includes heaps of things I cant be bothered to type up now. Basix Costs 3500 ltr Poly Tank Gas Pack incl connection Wall (R.15) and ceiling insulation (R2.5). So then we have to factor in A/C and a few little extras were going to get done. so about another $6k So all up around $498,805 on a 450sqm2 block Will get our tender back tomorrow with drawings of the plan. Hope all goes well and does not exceed $520k Also forgot to say I'm going to be exempt from Stamp duty. and Site costs was added into the total figure, But we still left $20k to play with in case. Once completed I'll have to share the price between the neighbours on fencing. But I don't know how it works, cause atm theres only one house that will be completed which is behind mine, what about the sides? Re: Building a new house and need price comparisons 13Nov 27, 2011 7:08 pm What size is the house? you will have to pay half for the fences on the sides as well as half of the back one. You just have to find the owner of the land on the sides, get some quotes and send them to them. Hi Kristy Around $1.7-1.8m or around $4,600/sqm. if you PM me your email I will send you a break up in a spreadsheet so you can get an understanding of the costs for… 1 9956 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35326 Just to makea point about this, an approach that some people have found sucessful in negotiating these rises down, Is to provide some workings to the builder, specifying… 4 81718 |