The question everybody considering a new home wants answered: how much does it cost?
Unfortunately, there’s no straightforward answer.
According to the Land Report’s Urban Development Institute, in 2017, the median lot cost of Sydney was $476,000, Melbourne was $281,000, and Adelaide was $167,000.
The average price of property was $746 per sqm.
Average cost of building a House
Several things influence the expense of construction, but according to the Australian Bureau of Statistics (ABS), in June 2018, the Australian average was $1270.80 per sqm.
This figure does not include some other cost blow-outs, planning permits, any site works or design.
Based on ABS June 2018 Buildings Approvals data, the typical house in Australia crosses 251.7sqm, which places the price of construction at just under $320,000.
On the other hand, the price of building an architecturally-designed house starts at a minimum $3000 per sqm, up to $5382 per set or $50,000 per Australian home square (9.29sqm).
It’s hard, if not impossible, to compare the expense of building “a house” without specific details.
While declining to place an ordinary cost on a building using a builder due to the numerous factors, some designs are architecturally-inspired to provide a home.
As a national franchise network, their customers will encourage to pick a standard design. These designs, along with the inclusions, will keep prices at a minimum.
Five factors influence the cost:
- Geographical considerations
- Architectural complexity
A house with more bedrooms requires more labour and more specialised equipment, more stuff.
When it comes to building, quality materials require craftsmanship and finishing, which come with a hefty sum. The terrain of the property, quality of the architect, and floor area will also significantly affect the cost.
Your home’s location can impact factors like Bushfire Attack Amounts obligations, in addition to the costs, based on state or council requirements.