While it’s impossible to be completely prescriptive about a new-build’s cost, there are some ballpark figures we can apply, to give you a guide as to how much it may cost you to build a property.
First, it’s important to know the different factors that can impact the cost of building a house. These include the following (but aren’t limited to):
- The size of the dwelling
- The location and availability of resources the slope of the land
- The quality of the fixtures and fittings
Labour and material costs vary State to State, and even within each state, metro to rural; sometimes even between adjacent postcodes. New house builds are measured by dollar per square metre. So take your dream floorplan, and multiply its square meterage by $1500 for a basic build, and about $300 more for medium. Obviously, for a high-end home with custom-design finishes and tailored design, you can expect to pay much more – anything from $1800 to $3000 per square metre and up.
Using that equation, and taking Sydney as an example, here are some ballpark figures for new builds. The starting price for a 3-bedroom home is $190,000 and $210,000 for a 4-bedroom home. For a turnkey package, add approximately $50,000, subject to site conditions.
Every property has its own unique benefits and challenges, so the above is to be taken as a rough indicator only. If you want a clearer financial picture of what building your forever home would cost, sit down with our design team and let’s make that dream a reality.