Are you looking to buy an established home to escape the rent trap? And is it because of the widely held view that constructing a new house takes a longer time and costs more? If the answer to both these statements is yes, then you have fallen for the “building a home cons” myth. To that end, you need to read this piece.
For starters, it is important to understand the current market conditions and not be too hasty to jump to the conclusion that building a home is more expensive. There are way more benefits to constructing a home compared to purchasing an established residence.
The experts at Stop Renting Perth have helped thousands of Perth renters build their dream home and escape the rent trap. Costs vary from client to client depending on budget, size of home and the inclusions added into the home. How to stay on top of the build costs so you avoid a blow out? Being informed is the key and we want to outline certain things to look out for.
Important Home Construction Cost Factors: Stop Renting and Start Owning
People usually want to know the exact cost of building a house so that they can stop renting and finally become homeowners. But, estimating construction cost isn’t simple. What you CAN do instead is to keep in mind the risk of costs creeping up. Here is what to look out for:
Site preparation costs: Irrespective Survey re-pegging, clearing, and levelling the land before laying the slab down is a key first step in the building process. Costs start to add up if the soil type is troublesome, if rock, trees, and stumps are where the foundation needs to be. Perhaps even if the site is fire prone, flood prone or if there’s asbestos on the premises. When looking at location, consider all these factors to help ensure siteworks costs stay down.
Size of home: The bigger your home, the more costs involved. Remember, the more square metres you have, the more this will affect the cost with additional materials and labour. Our specialists at Stop Renting Perth will work closely with you on budget so you can own a home that fits within your means without compromising on value. We can suggest the perfect home for you so you can go from renting to owning a home with no hassles or regrets.
Multi-level home or non-standard shape: If you’re looking at building a two-storey or multi-level home, that means more construction work therefore a higher building cost. The more custom your design, the more costs will be involved.
Fixtures and finishes: Premium finishes such as granite countertops or non-standard floor tiles will attract a premium price. Stop Renting Perth will be able to suggest affordable alternatives that work for the look you’re after, so you don’t blow your budget.
If you are sick of renting, leave us a message. We’ll help you explore the available options to stop renting and start owning.