When it comes to building your home, project home builders are the way to go. They are often highly experienced as they build hundreds of homes per year so you can feel confident and secure knowing that everything is being taken care of. Quality home builders include regular progress updates and assistance whenever you need it, which means you won’t have to worry about hidden costs popping up throughout the process.
It’s hard to estimate how much building a new home will cost without knowing the size of the land or the specific home design but there are a few things to be aware of that will have a big impact on how affordable your building experience can be.
Generally, it’s very difficult to calculate costs of a home build as it varies so much in individual cases but the main elements are the size of the land, the size and complexity of the home, which includes things like number of levels, finishes & materials used, additional rooms, spacious backyard etc., plus the cost of the actual build itself.
Working with home builders
Project home builders will already have existing plans that you can customise and modify without having to pay for the services of an architect. By choosing a project home builder, you will more than likely be saving significantly more money, than if you were to build a custom home. Builders like Coral Homes allow you the freedom to customise, while avoiding the extra costs associated with doing everything yourself. They provide a holistic building process where you can choose and customise your new home with the help of experienced professionals. The other great thing is it’s all done with one fixed price so you won’t have to worry about additional costs.
Factors that affect cost
Lot size – One of the biggest factors when determining the overall cost of building a new home is the size of the land you are building on as this indicates how big the home you are building will be, so if you stay relatively small then you know the cost won’t blow out.
Soil quality – The quality of the soil will affect how easy or hard the land will be to build on. For example, if you have clay, stones or boulders to contend with on your block then it’s likely to be more expensive to work with. To be safe, you can get a soil and contour test done, which costs around $2,000 and tests the soil quality and contour of the land.Builders like Coral Homes will fix the price of any site works required on your block of land so you can be sure there are no hidden surprises around the corner.
Sloping block – In a perfect world your land will be level and ready to build on but it’s not always the case so it’s good to be aware that if you do have a sloping block, there is an additional cost associated with the build. Many builders won’t build on a block with a slope greater than 3 metres.
Home design – If you choose to design your own home from scratch, you will need to employ an architect, which is a significant expense in itself. Project home builders have a selection of plans ready to go and you can often choose to customise these if you wish.
Fixtures & finishes – Granite counter tops in the kitchen or Italian marble tiles would greatly affect the overall cost of your home as more expensive finishes can also increase the cost of construction.
Design features – Think about whether you want a pool in your backyard or extra room for a walkway down the side of the home etc.
It is imperative that you set your budget in the beginning and take into account all of these factors that may get overlooked in the initial stages. It is quite normal to go slightly over with budget but if you stay on top things, you should be fine. It’s always good to speak to your bank about the budget for your new home so they can assist you with this process.