Home construction costs - just how much will they be?
Home Design June 8th, 2008
The most common question my clients and friends ask is: “How much will my new home or renovation cost?” You would think there is an easy way to determine an answer to thus simple question, given the maturity of the construction industry, but you would be wrong.
Building professionals and architects will balk at this question because there is so much detail they need to know before they can give an estimate.
You can get an approximate costing estimate by working out the possible “meterage” of the new home and multiply that figure by a per-square-metre amount, which will (of course) vary from region to region. A cost estimator that uses this approach can be found online here.
Even project home builders with their “$265,000 mansion package” can not provide an accurate upfront total price. That will depend on site conditions, the changes you make to the basic plan and the options you choose.
Here is a good rule I like to tell people when thinking about building costs – have a figure in mind and then double it; that’s what it will cost you to build that beautiful home that you have been “pining” for.
So keep it simple and always assume it’s going to go over budget. Don’t “lash-out” on that nice tap fitting or that expensive bi-fold, and do DIY whenever possible.
