The costs and compromises involved in a professional custom home build on the Mornington Peninsula go beyond just money because a lot of time, patience and flexibility are also required. We know that prospective homeowners are usually most concerned by the idea of the financial cost. We’ve put together this short guide to give you an idea of what may be ahead. We’ll include a couple of cost estimations and everything that goes into them but that doesn’t mean it will directly apply to your new home project. We want to start by making it clear that your main priority shouldn’t be finding the cheapest service provider. It’s also important that you scrutinize where every cent is allocated in the overall price. The builder is required to give you a detailed explanation, in the form of a quote, for every piece of material. They should also be willing to work through these costs in collaboration with you. But before we get into all that, let’s start by simply explaining what the typical charge is for a new home…
What is the average building cost in Australia?
The cost to build a house in Australia can start from $1 300 to over $3 900 per square metre but that all depends on the specifications of your design. You can imagine that unique, specialist or boutique home designs can be much higher than this typical range. You should also know that prices may vary from state to state. The total cost to build a new home in Sydney is around $500 000, in Melbourne it’s just over $300 000 and in Adelaide, it’s around $200 000. These are main metropolis areas but if we’re looking at the Mornington Peninsula you can expect a charge anywhere upwards of $180 000.
Design costs also affect the overall builder charge if they’re involved in this part of the process. With NB Custom Builds, we’re a fully certified builder that is equally qualified in design advisory and consultation. We’re highly experienced in rolling building design throughout the construction process and we have access to industry design experts that can help where needed.
Factors that affect new home builder charges
The size of your home
The average home in Australia is usually around 200 square metres and has two or more bedrooms. The larger your home, the more materials, labour, and equipment are needed. If you’re looking for anything outside of the average, you can expect to pay more for these things.
The material and installation quality
This relates to the quality of the fixtures and finishes. Every homeowner has their taste in this regard, and it is the job of the builder to present a final quote based on your taste selection. Naturally, you can expect that higher-quality materials will cost more. Higher-quality materials require better finishing and increase build costs, but it can also be expensive (in the long run) to choose low-quality materials. You’ll see that you need more frequent repairs and replacements if you choose cheaper and lower-quality materials at the onset. Your fully certified Peninsula builder can easily help you strike a balance between realistic expectations and the final cost.
The condition of the site
The terrain and condition of the land we’re working with could also impact the costs involved. It may give us limitations on the floor space, building allowances or equipment required. These things, as we’ve mentioned above, can change what the final charge is for your new home. These costs are outside of your control as a client. It is the job of the designer and builder to manage this aspect of the job. They will ensure that the concrete slab (foundation) on which your home will be built adapts to the condition of the land appropriately. All you have to worry about is how this may affect the labour costs associated with this.
The complexity of your design
It should go without saying that simpler designs require much less specialist craftsmanship and therefore, will be cheaper and quicker to build. Complex and boutique home designs will cost more and take longer to build. Australian volume builders are used to sticking with standard designs and therefore offer standard pricing. If you are looking for a forever home that is striking and unique, you can expect a higher charge. Things like proper insulation, stone benchtops and luxury flooring will increase the initial build costs.
Additional expenses to consider
- The number of rooms and levels
- Induvial builder pricing structure and services on offer
- Your desired choice of accessories
- Site access and slope of the property
- Volume-built home or custom-built home
- Permits and other building paperwork
- Sudden project changes
- Specialist material supply logistics
