Browse Forums Building A New House 1 May 24, 2012 10:43 pm What are the costs to consider when doing a budget for building a new home? Just wanting to see if there's anything we may have overlooked. Re: Costs to consider? 2May 24, 2012 11:29 pm I would say, Upgrades in the kitchen can be very costly but very well worth it also, tiling upgrade, cornice upgrade, Raised ceilings, flooring, upgrading doors, sliding doors and windows, skirting boards, lighting (we are getting an electrician to do ours after handover), basins, tapware etc...... there are so many.... make sure there is money left over to finish the driveway & paving around the house, landscaping..... painting Re: Costs to consider? 3May 24, 2012 11:48 pm marybond2012 I would say, Upgrades in the kitchen can be very costly but very well worth it also, tiling upgrade, cornice upgrade, Raised ceilings, flooring, upgrading doors, sliding doors and windows, skirting boards, lighting (we are getting an electrician to do ours after handover), basins, tapware etc...... there are so many.... make sure there is money left over to finish the driveway & paving around the house, landscaping..... painting True, upgrades can add lots of $$$$ - but this sometimes needs to be categorized into needs and wants....particularly when the budget comes into play! We upgraded some things (ie, stone benchtops in the kitchen), but not others as we were generally happy with our builders standard inclusions and a few other things we wanted didn't match with our budget. Plus, it of course depends on what your builder includes....painting was included for us but may not be for others (as mentioned above) other things to remember to budget for are (if not included already by your builder) antenna phone connection (I think $299 is the std figure everyone has to pay - it's what we had to! ) letterbox (we have just put up the cheapest one we could find with some number stickers - yet that was probably $20 - we will eventually replace it with a proper brick/stone one now our fencing is done) landscaping window furnishings take away meals for a few days/nights until you can find your cooking stuff..... beverages for any moving in helpers!! It can be thirsty work! It might be useful to post what things you have already considered and then it's easier to spot the gaps! Our building thread: viewtopic.php?f=31&t=51657 Costs to consider? 4May 24, 2012 11:48 pm So far we have considered land (inc stamp duty), house, upgrades & modifications, driveway, exposed aggregate around the pool, pool fence, pool, site works, landscaping, extra electricals, flooring upgrade, window furnishings. It comes to our budget (or just over), but DF is a bit worried there may be more that we may not have considered. Re: Costs to consider? 5May 25, 2012 12:05 am If you're borrowing then factor in mortgage insurance (if you don't have at least a 20% deposit), loan establishment fees, also factor in interest-only mortgage repayments an the amount you've drawn on the loan. Is the NBN coming your way soon (or are going to be building in an NBN-ready development)? If so tack on another $2-$3k for your home network setup if you haven't already done so. Incidentals such as rates, government levies (both state and local council), rates (you will be paying instalments as soon as you purchase the block), gas connection fees (possibly water and electricity as well depending on what is the norm in your state). You're in WA so external window coverings need to be considered for parts of the house that receive strong afternoon/evening sun - perhaps some sort of pergola or shade sail setup for your entertaining area? The devil is probably in the detail you already think you're accounting for - site works are a bit of an unknown until they start looking at your block, landscaping costs can vary greatly as can flooring costs depending on the style and quality of tiles and carpet you choose. Another one that springs to mind is bushfire attack level compliance - not sure how they handle it over there in WA but they're fairly rigorous with it now here in Victoria. Some people apparently have nothing better to do than comment on other people's sigs. Re: Costs to consider? 6May 25, 2012 5:54 am At least 10% on top of the land plus basic house. I've shown how I've arrived at this on my blog at http://www.anewhouse.com.au/?p=6 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: Costs to consider? 7May 25, 2012 10:59 am I would allow more than 10% - it all depends what's included in your base cost and what you need to do after handover. As well if you want to be sure how much actually everything costs get real quotes for floor coverings (tile/wood & carpet), internal painting, window coverings, aircon, extra electrical (downlights/extra ppoint/smart wiring), footpaths, fencing, landscaping. Estimating is tricky and my estimates were well below the real cost - hence me being stuck now MegLeigh89 - not sure if you are building in a new estate or established suburb so make sure you understand some of the big costs you might encounter: *Siteworks - is there any cut and fill? As you are installing a pool you might need to check that there is no rock which will increase the cost (e.g. rock breaker allowance) - btw are you installing the pool during build or after? if after make sure that there are no hidden costs. *Are there soakwells required?? *Do you need retaining walls?? These are the big items which will chew up your budget but there are lots of little other costs which will add up as well e.g. as mentioned before - connection fees, moving costs, new shire and water rates, insurance (house, content) and other immediate bills, clothes line, letter box, shed and the list can go on Preliminary agreement 23/11 Contract 22/03 Prestart 06/04 - finalised on 30/04 Unconditional approval 10/05 Demolition 05/07 Slab 26/08 Brickwork 13/09-06/10 Roof frame started 07/10 viewtopic.php?f=31&t=32292 Re: Costs to consider? 8May 25, 2012 12:48 pm If the site survey hasnt been done then you may end up with a bill for around $1500-2000 for fall protection for the workers, especially if you are in an estate with the limestone retaining walls. This was an out of the blue gotcha for us. No warning or provisional sums applied (single storey house) Re: Costs to consider? 9May 27, 2012 11:27 am Things that I forgot/didn't think to add into our budget were: Stamp duty on the land, settlement agent fees, bank fees (I knew these were coming but had no idea how much they would be), water rates and council rates (you pay both of these from the date of settlement on the land), a homeowners association fee (compulsory to our suburb, they would have made you aware of it if it exists when you bought the land though). These were things that took me by surprise/were more expensive than I thought they would be. Obviously once you start building you are going to have extra expenses with upgrades, furnishings etc, but these are much more obvious and controlled by you:) Good luck with your build! Re: Costs to consider? 10May 27, 2012 3:23 pm When your budgeting for paying rent plus the mortgage on your land / construction, double the length of time the builder tells you it will take to go through the pre-contract process and then build. I say this rather bitterly, being 11 weeks pregnant and having absolutely no prospect of being in my new home by the time our baby is born despite having first asked for a tender almost six months ago. In fact we won't even get to start building for another three months. In my experience builders are worse than used car salesmen. Tender /1/12 Contract 14/6/12 Planning 12/10/12 Site 23/10/12 Piers 27/11/12 Slab 12/12/12 Frame 15/12/12 Trusses 17/1/13 Roof 24/1/13 Bricks 13/2/13 Plaster 1/3/13 Re: Costs to consider? 11May 27, 2012 4:52 pm Ribbon When your budgeting for paying rent plus the mortgage on your land / construction, double the length of time the builder tells you it will take to go through the pre-contract process and then build. I say this rather bitterly, being 11 weeks pregnant and having absolutely no prospect of being in my new home by the time our baby is born despite having first asked for a tender almost six months ago. In fact we won't even get to start building for another three months. In my experience builders are worse than used car salesmen. Ribbon, I hope it gets better for you soon... I feel your pain. We are currently paying a very high rent + paying mortgage on land & Construction while raising 3 kids while only one parent works full-time during the day while the other parent works at night because daycare is too expensive and our salary bracket is too high to get any assistance from anyone...... On top of that trying to figure out when the house is going to be ready for my other half to get a new job and try to relocate the whole family to our new home when it is ready which is 7 hours away from were we are living now...... We are 3 months behind already from our initial timeline so fingers crossed we can at least get in by Christmas and miss the 3 week period that all the tradies take there holidays in. Why is your build still on hold for another 3 months??? Re: Costs to consider? 12May 27, 2012 5:11 pm I would budget between $50k and $100k over what you have budgeted already This is a full list of what comes to mind but i can guarantee there is more. Lots of this may not be the case for yourself but its things most of us may come across conveyancing fees bank fees stamp duty possible real estate fees for selling a current property rental of a home till yours is built price of land price of house including upgrades- tiles, carpet, electrical, lighting, plumbing, kitchen, bathroom, air conditioning, heating, solar, hard wiring, alarm, landscaping (plants, bobcat hire, retaining walls, concrete, soil, soil preparations, grass, mower, whipper snipper, hedge trimmer), fencing, connections to all your services - home phone, internet, pay TV, alarm, alarm monitoring, physical connections to all these services as they dont always include this. window furnishings furniture removalist costs I cant think of anything else right now, but trust me, all this adds up to a lot of extra coin Hi It came to my attention after the handover that - The facade cladding on the face and the side are not straight. -The face tapers down by 50mm from left to right and… 0 2461 I am not sure whether Perth has its own way of doing things in regards to this. Most of Perth has class A (sandy soil), except for some areas near rivers or hills. 2 13098 Looking to tile the facade pillars rather than rendering. Builder is quoting 2500$ laying cost for upto 10msq. The 2 pillars come to be 16msq. So laying costs are 5000$… 0 7546 |