Think ‘price-per-square-metre’ will give you an accurate idea of the cost to build your new home? Think again! When it comes to choosing a new home builder, one of the first things most people do (and what they are told to do) is ask for a “price per square metre” quote from every potential builder. Unfortunately, more often than not, this is a very unreliable indication of the actual cost to build a house.
While one company may offer a cheap square-metre price, they often haven’t revealed detailed information around what is actually required to complete the build, rendering the figure almost irrelevant – and certainly not a true reflection of the real cost to build.
So what are the hidden costs your “price per square metre” quote may not cover?Depending on your site, you often need to include:
• Project management • Engineering costs • Geotechnical report • Earthworks • Drainage • Foundations (including retaining) • Services during construction • Services, such as Septic, Water, Stormwater and Power and upgrades if existing • Driveways • Landscaping • Council consents and fees • Health & Safety/traffic management
These items could end up costing anywhere from $10,000 to $100,000 or more, depending on your site and what is needed.
Then there are the client-directed decisions and variables, which have nothing to do with the building code or site requirements. You should also be aware that some building companies can compromise on the quality of materials and fittings to achieve a cheaper, watered-down price per square metre.
Delays in building are another hidden cost that can quickly add up. An experienced builder will allocate extra time to allow for weather conditions and things outside of their control, and include this in your timeline and estimate.
When looking for a build partner, honesty and transparency is crucial, so make sure you choose a builder who has a good reputation and talk to clients who have trusted them to build their home already.
If you’re thinking about building a new home or renovating your current place, we’d love to hear from you. Give us a call today on 022 585 1797 to find out how we help turn your dream home into reality. The best time to start your build journey was yesterday the second best time is right now!
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