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Burbank Blog

A few home truths about building a home and all that surrounds it.

What are the real costs of building a home?

23/08/2017


 
The first cost, and normally the biggest, is land.

Naturally, the cost of land will vary depending on where you are building. Rural areas are typically more affordable spots than cities, and buying land in master planned communities or estates (where Burbank display homes are located) is also a great way to reduce your spend and decrease the overall sum of your new home costs.

Depending on which state you are building will also shift the affordability of land. Vic and NSW are notoriously expensive, yet land in their rural townships can be more manageable. The ACT, SA and QLD generally offer more affordable land options, subject of course, to where you are buying.

The other thing to remember when considering land is in its quality- does it slope increasing the difficulty of the build and adding further costs? Does the land require demolitions or removal of greenery? Did the soil testing result in the need for additional services, again adding further costs to your new home build?

All of these factors should be considered prior to buying your land lot to ensure you aren’t stuck with a difficult and expensive lot!

The next thing to consider once you have your land is of course what kind of home you are going to build- will it be a single storey, a double, rear loaded or multi-generational? Will you choose a reputable volume builder, or choose an architect to draw up collaborative designs with yourself? Once you have chosen your design, its complexity and size will impact the duration and cost of your build substantially.

If you do chose an architect, you will also of course need to pay them for their design. As builders like Burbank build many hundreds of homes each year, they source their materials in bulk, which can reduce the price that buyers may experience if instead opting for an architect and builder- a great idea if you are building on a budget.

The materials you elect to use will also impact the cost of your new home build.
Naturally, the materials you select will either heighten or reduce your new home costs. The key here is again, research. Whilst non energy efficient materials may seem cheaper up front, they made add expense later as they increase your bills. Similarly, if you opt for a material of lower quality and lower price, it may not last as long as a slightly more expensive fixture. These are factors to think through and consider early on so you can figure out which areas of the home require added expense and which ones you can manage with a more standard inclusion.

Changes to plans after the build has begun.
Changing your mind throughout the build almost always adds to your new home costs! Working your plans out as you go is a risky idea, as the expense of repeating processes, paying builders for their extra services etc. as well as alternative materials all adds up quickly!

And then there are of course the extras such as landscaping, driveways, furnishing and MORE!!!

In sum, it is integral you do your research prior to your build, visit as many displays as you can to help establish your design desires and strap yourself in for the one of the most exciting times in your life!