The median house price has been skyrocketing across the country in recent years, especially during covid. Because of this, many potential home buyers are turning to building their new home rather than buying an existing one. With greater creative and budget control, building your new home could be the best option to get out of the rental cycle. But how much does it cost to build a house?
Darren Walters has more than 20 years of experience in property, lending policies and finance. He developed his no or low deposit new home system to help renters escape the rental nightmare once and for all. With a focus on building new, high-quality homes, No1 Property Guide is dedicated to giving every home buyer their dream home. Fill in our pre-qualification form and speak to our New Home Consultants to begin your homeownership journey today.
Cost of Land
The cost of land is generally the most expensive part of a new house build these days. While the cost to build a house has risen thanks to a shortage of building supplies, combined with increased demand. The lack of available land has seen land prices grow even quicker and more aggressively than build costs.
Of course, this will vary depending on where you’re looking as well. Land in popular areas like the capital cities or large metro areas will be more expensive than land in rural or smaller towns. So, picking the right location is a crucial first step in the home buying process.
No1 Property Guide has access to some of the most prestigious estates and developments across the country. This means we’re able to secure blocks ahead of the public to give renters an even better shot of getting into the market.
Want to secure your block and start working towards building your dream home? Fill in our simple pre-qualification form to discover your factual new home options today.
Turnkey vs Full Turnkey
If you’ve decided you want to build your new home, it’s important you know the difference between turnkey and full turnkey homes.
A turnkey home is a house package that includes ‘everything’. But what they don’t tell you is that ‘everything’ is different depending on which builder you’re dealing with.
A lot of the time, the fine print will tell you that the pictures on the billboard or ad you saw aren’t exact or show inclusions that aren’t included. Showing a premium home at a basic build price is a common method builders use to draw in customers.
Unfortunately, this catches a lot of renters unaware. With many potential home buyers signing a build contract that doesn’t include some basic inclusions that you would expect in any new home. In a lot of cases, this can mean your new home won’t include basic things like a letterbox, driveway, or even site costs and landscaping!
These are the kinds of hidden costs that end up costing home buyers thousands of dollars.
That’s why, here at No1 Property Guide, we only deal in 100% fixed price, full turnkey house and land packages. You’ll know exactly what you’re getting in your new home, and the exact price it will cost.
No hidden construction costs, no nasty surprises. You’ll be able to simply turn the key and move in straight away.
Our first step is to help you understand your factual options. Once you know what you can and can’t do, our New Home Consultants can work with you to secure your no or low deposit home through Darren’s system. Simply fill in our pre-qualification form to find out your factual options today.
What If I’m Not Getting a House & Land Package?
If you’ve organised your land and new home build separately, you’re going to need a rough guide on the different build pricing methods. Most builders will price at a cost per square metre, and if you’re getting multiple quotes, this will make it easier to compare. But if your quotes are calculated using different methods it can get confusing to interpret.
You’ll need to manually add it up and compare the total cost of each build. Of course, this is all assuming everything goes to budget, and you won’t need to add any extras or pay for inclusions. That can really increase your average cost to build and can make comparing or budgeting for a new build really difficult.
That’s why we always recommend you go for a fixed price, full turnkey house and land package. The price is 100% clear, and you’ll know exactly what you’re getting and for how much.
The Real Cost of Building a Home vs Renting
At the end of the day, the real cost to build a house is nothing compared to the cost of living in the rental nightmare. Over the years, it can be easy to not realise how much in rent you’ve paid. But in many cases, if you add it all up, you could have almost paid off your own home a lot of the time!
Owning your own home is the great Aussie dream, so taking that first step and getting approved to build your new home is an amazing moment. Let our team of New Home Consultants give you that moment with Darren’s no or low deposit new home system.
Fill in our pre-qualification form and get your homeownership journey started today.
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