Building your dream house from scratch is the most practical way to get all the features you’re looking for. It offers endless opportunities for customization, from the total floor area to the design, layout, number of rooms, finishes, and decorations.
The primary concern when building a custom home is the cost. Knowing how much budget to prepare helps with detailed financial planning to fund the project. Constructing a house from the ground up gives the flexibility to suit a limited budget, but it still requires high initial costs.
In this article, you’ll learn about the average costs of building a custom home and the factors that affect the prices.
Average Cost Per Square Metre
According to expert builders, the national average cost of building a custom home range from AUD$1,300 to over AUD$3,900 per square metre. It includes the design, floor planning, material, labour, and permits. You may check out https://www.bluegumhomes.com.au/ to know the details of these processes.
The significant gap in the prices per square metre depends on the following factors:
- Home Design
Home design is one of the major factors that affect the total cost of building a custom home. Builders can construct a simple structure for the lowest price of AUD$1,300 per square metre. In this case, you can have a basic 175-square-meter home for as low as AUD$227,500.
The cheapest home designs are square and rectangular homes, while complicated shapes and slopes increase the cost. Multiple-storey houses are also more expensive than single-storey but are more efficient in maximizing smaller lots.
- Number Of Bedrooms
Some builders give quotes based on the number of bedrooms. A three-bedroom home typically costs AUD$1,300 to AUD$1,900 per square metre. On the other hand, a four-bedroom home commonly starts at AUD$2,400 per square metre, which may increase depending on the finishes.
One factor that affects the prices regarding the number of bedrooms is the structural design and materials. For instance, a two-level home with four bedrooms needs stronger and bigger columns and beams to support the structure, which causes a significant price increase.
- Level Of Finish
A custom home’s level of finish directly affects its cost per square metre. You can build a house for the lowest price with a basic finish, which includes plain paint, standard electrical wiring, budget fixtures, and low-cost roofing materials.
Mid-range finishes typically cost between AUD$1,600 and AUD$2,400 per square metre, using a mixture of basic and high-end furnishing materials. On the other hand, an elegant, architecturally detailed design and high-end finish start at AUD$3,900 per square metre or higher.
- Material Choices
Your choice of materials plays a significant part in increasing or decreasing the required budget. Since custom homes are built from scratch, some aspiring homeowners choose reclaimed materials to lower costs.
Moreover, your choices of windows, roofing, and flooring can drastically impact the price. Using standard sizes with single or double panels for the windows keeps the costs low to mid-range. On the other hand, triple-glazed, oversized windows place the prices in the high-end range.
Regarding roofing materials, the most affordable choices are corrugated metal and asphalt shingles. In contrast, the most expensive ones are slate and terracotta. Hardwood and natural stone are still the priciest for flooring, while engineered wood and luxury vinyl are in the low-end to mid-range.
- Labour Costs
Around 35% to 40% of the total average cost is labour-related. When hiring a contractor to build your custom home, the contract includes the labour costs, so you don’t have to worry about hiring tradies. If you manage the project yourself, the estimated average cost of labour is AUD$50 per hour. Expect to provide higher pay for expert trades like plumbers, electricians, and tilers.
- Fixtures
Home fixtures are the most flexible features in a custom home concerning the cost. For instance, you can purchase affordable bathroom and kitchen fixtures to stay on your budget. You may also opt for simple LED interior and exterior lighting.
- Additional Expenses
Aside from the materials and finishes, there are additional expenses you need to address. One of these is site preparation. If your site is sloped, expect to pay extra for building retaining walls and structural support. You’ll also need to hire a geodetic engineer to test if the land is dense enough to hold the structure.
Moreover, expect to pay more when building an architecturally detailed home. Some architects charge from 8% to 15% of the project cost to create a detailed plan that suits your preferences and lifestyle.
Publisher Website: http://www.bluegumhomes.com.au