Your custom home design and build budget

How to start

One of the biggest considerations when designing and building your new home is the budget.

How much do we spend?

How much do we need to spend?

How much can we afford?

All great questions, with the same answer, it depends!

Not much help, I know, but let me explain.

When you are considering designing and building a new home you need to look at the TOTAL project costs, not just the building part.

These may include purchasing the land, stamp duty, demolition of the existing home, architects fees, planning fees, the building contract, landscaping, pool, window coverings, rent while you build, move in and setup costs.

It’s vital that you understand and budget for all of these prior to moving forward.

An experienced building professional should be able to help you with understanding these costs and explaining where savings may possibly be made.

When you are calculating your budget, costs can be grouped in to 3 main areas;

  1. Pre construction works.

  2. Building contract.

  3. Completion works.

The pre construction works can include;

  • Purchase of the land (if not already owned).

  • Stamp duty.

  • Abolishment of existing services (removal of the gas and electricity meters).

  • Demolition of the existing structures and landscaping.

  • Architect or Design fees (if not provided by your builder).

  • Town planning council fees (if required).

The Building Contract price can include;

  • Feature site survey & re-establishment survey (if required).

  • Engineers soil report.

  • Construction documentation (working drawings, engineering, specification, colour selections).

  • Building permit and council fees.

  • Home builders warranty insurance.

  • Construction costs of the home based on your design, specification and selections.

  • Post construction warranty.

The Completion works can include;

  • Hard landscaping (driveway, paths, retaining walls, if not included in your building contract).

  • Soft landscaping (plants, grass, garden beds, irrigation, garden lighting).

  • Swimming pool / Spa.

  • Window coverings.

  • Letterbox.

  • Clothesline.

  • Moving costs.

You need to ensure that you are aware of all of these costs and how they relate to your project.

Next, make contact with us here at Mayfair Living and we will guide through the entire process and start the ball rolling!