How Much Does It Cost to Build a New Home in Perth
The thought of building a new home may be intimidating at first, but a well laid-out plan will help you out in the process. In this article, we’ll help you maximise your budget for building your new home. We’ll list down the things that you may want to consider for your new home in Perth, as well as their associated costs.
#1 – Cost of the Site or Land
The cost of the land in Western Australia can range anywhere from $500 to $750 per square meter depending on the size, location, and landscape you choose. Premium areas such as those close to beaches or rivers will of course be more expensive.
The same thing applies if you choose land that’s close to the city. If you want to spend less on your lot, you could opt for a space in the suburbs. The suburbs are best if you want a more laid-back community.
However, if you want to be close to the city, definitely put aside a good budget for location. Although it costs more, it might be worth the investment especially if you’re going to be closer to your job which can also reduce your travel costs and travel time. Some lands will also be better to invest on, as they appreciate faster in value.
A 450-square meter land will vary in cost depending on its location, with the below estimates per city.
|Burns Beach or Iluka||$550,000|
|Ellenbrook or Aveley||$290,000|
Keep in mind that aside from the cost per square meter, you’ll also have to shoulder additional costs such as surveying of the land, taxes, and the fees associated with lot ownership.
#2 – Cost of Siteworks
Once you’ve bought your land, it’s time to prepare it for construction. If additional works need to be done to prepare your site, this could add to your cost. It’s best to buy land that’s on a flat surface to avoid hefty land levelling costs. For properties located on a significant slope, the use of retaining walls to stabilise your home’s foundation usually costs an extra $5,000 to $10,000.
You’d also want to build your home in already populated residential areas so you can be guaranteed of existing utility lines on your street. Otherwise, connecting utilities to a remote land can be a pain both for your contractor and your budget.
Do note that issues during the preparation of your site and construction of your home might arise with regards to the condition of your lot’s soil. If your soil does not have enough capacity to sustain construction, soil strengthening works would need to be done. If the area that you chose happens to be prone to flooding, you will also need to spend on raising the floor above the natural ground level to cope with excessive rainfall or flooding incidents.
This is why it’s important to work with a trusted contractor that can navigate any surprises that may arise on site. Compass Homes is a reputable design and build contractor that’s been in the business for over 28 years.
#3 – Cost of the Building or House
Comfort, security, physical appearance, and space should be on top of your priorities when building your future home. The cost of the house itself will depend on several factors such as:
- Number of storeys and rooms
- Quality of the materials
- The desired time frame of building the house
- The complexity of the design
- Changes that you may desire during the run of the construction
This table gives you a rough estimate of costs based on the size and number of rooms and storeys of your new home:
|Size, Number of Storeys, and Rooms||Estimated Cost|
|250 sqm, 4 bedrooms, 2 toilet and bathrooms, double garage||$335,000|
|300sqm, 4 bedrooms, 2 toilet and bathrooms, double garage||$400,000|
|340sqm, 4 bedrooms, 2 toilet and bathrooms, double garage||$500,000|
|430sqm, 4 bedrooms, 3 toilet and bathrooms, double garage, additional features||$546,000|
|480sqm, 4 bedrooms, 2 toilet and bathrooms, triple garage, additional features||$660,000|
If you’re building a home for your family, it’s natural to only want the best materials. Good materials will of course cost more than basic ones, but they are worth shelling out for if you want to achieve a lasting, durable home.
If you’re building to invest and rent the house out, you can save on the materials by getting the most basic ones that don’t scrimp on quality. You also only have to include features that are necessary for a home.
A single-storey home can start at $180,000 and will include several bedrooms, a spacious living room, kitchen, and alfresco area, a double garage, a porch, a durable and beautiful roof, laundry area, and toilet and bathrooms. A more elaborate single-storey home built with the same amenities, but including a study nook, a double bathroom for his and hers in the master suite, an activity room, a home theatre, and bigger spaces for the kitchen, living room, porch, alfresco area, and dining area can cost you as much as $300,000.
If you want more outdoor features such as a swimming pool, gardening, and landscaping, a more complex exterior design, then that will also add up to more. Improving the air quality in your home by strategically using large windows and doors will also cost you some money, but has several benefits such as making your home appear more spacious, adequately lighted, and ventilated. Energy-efficient features such as solar panels will also be expensive at first but will end up saving you money in the long run. It’s important that you prepare your home for such installments so that there will be fewer additional costs in the future.
#4 – Cost of Interior Design
You shouldn’t max out your budget on just your lot and home. Setting aside a portion of your money for interior design is crucial to ensuring that you enjoy the fruits of your labour.
Fully furnishing a house can range from $40,000 to even $130,000 depending on your preference. In this age and time, it’s also best to furnish it with smart technology, so you can have the best convenience there is, and so that everything in your home will be integrated. This can cost around $3,000 to $7,000 extra.
#5 Cost of Maintenance
There will always be a corresponding cost to running and maintaining your new home. Basic utilities such as electricity, heating, cooling, water, and garbage services will cost you around $400 a month. Council fees will also cost you around $2,000 a year. Insurance is also an added yet necessary cost that can set you back $115 a month.
To sum up, the average cost of constructing a home varies depending on a variety of factors such as the size, location, and quality of fixtures and fittings. Working with a builder to design your dream home will save you money in the long run and ensure that everything in your home from land to every part of the house that you’ll purchase is ideal for your vision.
Though we’ve attempted to provide you with estimates, the final cost will be determined by whether you choose a show home, which the builder has planned with cost and efficiency in mind, or a custom home, which is specifically designed for you and your family.
Why Choose Compass Homes to Build Your New Home
We have a stellar reputation for quality service, connectivity, affordability, and bespoke design in the region. We have licensed builders who also provide design services, saving you the time and effort of seeking an architect and a contractor separately. We’ve been in the industry for 28 years now, and with our experience and skills, we will surely be able to grant your specific requests and preferences.