How much does it cost to build a new home?
In Australia today, how much can you expect to spend when building a house?
Without sounding trite, the answer to this could be summed up with that frustrating yet often accurate phrase: how long is a piece of string?
There are a number of different factors that can impact the cost of building a house, including but not 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
With this in mind, there are some “ballpark figures” I can come up with, to give you a guide as to how much it may cost you to build a property.
So: How much can you expect to pay?
First up, let’s get one thing clear: the base price that builders advertise on billboards and display on their websites are generally only a starting point, and do not reflect how much your home will actually cost when it’s 100% completed.
This is because these “starting from” prices usually only include the basics.
If you are looking for a complete price that includes everything from the carpeting through to the landscaping and driveways as well as the white picket fence at the front, then you need to shop around for what’s known as a “turn-key” package – which means all you need to do at the end is turn the key and step inside.
The cost of building a house varies widely, particularly depending on where in Australia you are planning to build.
And as mentioned, the size of the property and the quality of the finishes will impact the final price, too.
Look at the guideline below, according to Riders Digest 2019 Melbourne, Australia Edition.
Average costs to build a new house
Calculating the average price to build a house in Australia