THE COST OF BUILDING
How much does it cost to build a house?
You might be wondering how much does it cost to build a home in Queensland? What may seem like a simple question can be quite complicated.
The latest data reveals that building an average house would cost around $320,000. However this is just a cost which is written down on paper. Customised homes may cost a great deal more depending on a number of factors.
There would be things to consider like the location of the house and its size. You might also have to consider the kind of land which it is going to be built on. If you add in the fittings and fixtures along with the impact caused by COVID-19, there are a whole lot of things to consider.
The average cost of building a home
The cost of building a home depends on a variety of factors. In early 2020 the Australian Bureau of Statistics reported that the average cost was around $1,393 per square meter.
However this cost excluded the design, the planning formats or any cost associated with the site works. This is what makes it difficult to compare the cost of custom designed homes with homes which have been built by volume builders.
The perception has also been project homes are cheaper to build than a custom home and this isn’t alway true, as no two clients have the same requirements. Also the kind of the land on which the home is being built would also have an impact on its cost. In order to get an estimate on real building costs please visit www.bmtqs.com.au
Factors which impact the building cost
The following are a few factors which can impact the cost to build a new home
- The size of the home
- Materials used
- The site considerations
- Time frame in which the project need to be completed
- Unknown complexities associated with the project
There are certain factors which need to be managed by the builder which would include the cost of the site works. In case you may want to reduce the cost you may have to compromise on the quality of some materials which are used in the home. The fixtures and fittings can be upgraded in years to come. However there should be absolutely no compromise on the foundation and the materials which are used to build the home.
The location of your home can have an impact on the building cost because of site conditions: rock, land slip, soil and slope.
You also need to consider when it comes to the price of the building, extra cost like landscaping and the addition of swimming pools and fencing are not included. This can increase the cost by thousands of dollars.
The impact of COVID-19 on the cost of building homes
Although it’s not exactly clear how much COVID-19 has impacted the cost of building a home, it can be assumed that with several changes, the closing of the borders, travel restrictions and the lack of supplies of building materials due to lockdowns; things have changed greatly.
In regard to the constantly changing restrictions, supply chains being closed, the productivity has been greatly impacted. In most cases it now takes longer to complete projects because there has been a rise in construction costs.
*The above figures are estimates and to be used as a guide only, for an accurate quote please contact us.
**Figures are estimated on 6 August 2021.
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