Ask anyone who lives in Australia what some of their biggest life goals are, and you’ll find that the majority say they want to own property – with a large percentage of those keen to build their own home. But aside from finding the right block of land to purchase, you also have to work with builders, designers, architects and developers to build your dream home – so how much does it actually cost to build a house in Australia?
The Australian average
There’s really no simple answer to the question “How much does it cost to build a house in Australia in 2019?” However, there are some typical guidelines and historical trends you can follow to inform how much you’ll need to set aside for your build.
For example, according to the latest data from the Australian Bureau of Statistics, it costs on average $1,270.80 per square metre when building a home. So for the average-sized dwelling, which according to the ABS’s latest building approvals data is 251.7 square metres, you’ll be looking at around $320,000 for the build portion alone.
However, remember that this price doesn’t include additional costs like site works and planning permits, so that per-square-metre figure could grow depending on your final build. The good news is that going with a volume builder means any architectural and design fees are built into the home’s fixed price – rather than having a custom home designed from scratch.
What influences the cost of a house?
Because no two home builds are identical, with varying land placements, orientations, design changes and more to consider, you need to factor in some staples when approximating your home’s overall build cost:
- Size: How many bedrooms and bathrooms do you want? Are you looking for a larger house or do you want somewhere that takes advantage of the land for a big front garden and/or backyard?
- Builder: What type of home are you looking for? If you decide to go with one of Australia’s best-quality volume builders in a new development, for example, you’ll have a variety of design options with affordability in mind. There’s also the added bonus that most specialise in first home buyer products, which means you could be eligible for state-specific grants.
- Timeframe: When do you want to move in? You’ll also need to consider factors beyond your control such as late deliveries for construction supplies and inclement weather.
- Type of home: Are you going for a standard build or a complex, custom-designed house? The latter will likely increase costs, not to mention extend the build time.
- Location: Does your land slope? This will likely impact the overall build cost. So will a narrow block that requires a custom-designed home. Also think about any council or state requirements when building on your land. You can avoid having to worry about such issues by purchasing a house and land package – the fixed price means that in some cases all these potential costs are included. Speak with your builder to determine what costs are covered in the package price.
What’s the cheapest it would cost to build a house in Australia?
Let’s say you own your land and only want the bare essentials in your new home. Obviously that means a much smaller property than most people would build. One property expert found he could build a three-bedroom home for just $117,200, although the floorspace of the entire property only amounted to 150sqm.
However, there were also additional site costs, as well as expenses relating to flooring and driveways, so that figure rose to approximately $155,000 total.
How to avoid a budget blowout
For most people building in Australia, they’ll be looking to create a home that meets all their unique needs, is big enough to house everyone comfortably and makes the best use of the land for the lowest amount of cash.
So to avoid a budget blowout, it’s important to consider three key factors: time, necessary inclusions and extras. For builders, timeframes impact the resources that are available for the project, so it’s worth working with your builder or developer as the project moves through each phase.
Similarly, budget blowouts typically happen when the owner wants to deviate from their original plan, meaning resources may no longer be needed and new ones must be ordered in. To keep costs low, make sure all the design decisions are made early on and you are happy to stay with the finalised plan.
Also keep a buffer of money set aside for extras that aren’t included in a home’s build, such as:
- Optional additions like swimming pools.
- Local council costs, and more.
As a boutique village address that offers an exceptional location and a true sense of neighbourhood spirit, it all comes together at Savana. You can start your new journey by purchasing land at Savana, so enquire today.