The True Cost of Building A New Home In Sydney
The True Cost of Building A New Home In Sydney
If you’re looking to build a home in Sydney, you may think it’s quite a daunting and expensive task – after all, Sydney is one of the most expensive places to live in the entire country. It seems like a simple question to ask, but it doesn’t have a particularly simple answer. However, there is something we can say with confidence: building a new home can be much cheaper than buying a pre-existing home.
If you’re wondering about the cost of building a new house Sydney, here are some expenses you may need to budget for.
Land Costs
One of the most significant expenses when building a home in Sydney is not the cost of the build itself, but the cost of land. The price of land in Sydney is some of the priciest around, with a square metre of greenfield land costing upwards of $2,400, which is why the cost of building a new house Sydney can be so high.
There are a number of reasons why land in Sydney can be so expensive, including limited government release of new land and high population growth.
Design and Planning Costs
Before you can even begin construction, you will need to have your building plans drawn up and most importantly, approved by your council. This can not only be time-consuming but also expensive, costing anywhere from $3,000 to $15,000 depending on how complex your build is going to be.
Nicholson project by HYSPEC Homes
Housing plans are usually provided by an architect, who will have a high level of training and are legally qualified to oversee construction projects. Drafters and building designers are also qualified to draw up and submit plans, though they are usually better suited to smaller projects.
Construction Costs
This is where a majority of your budget will go when it comes to building a new home in Sydney. The construction cost of your home will of course depend on a variety of factors, including the size of the home, the quality of the materials used, and the complexity of the design. If you have an entirely original home design, this will push the price higher – but in general, you’re looking at around $328,200 for an average-sized 248 sqm house.
Additional Costs
There are some other things to consider when it comes to the cost of building a new house Sydney. You may also be looking at:
- Site preparation costs, such as excavation, landscaping, and fencing
- Building and pest inspections
- Legal and conveyancing fees
- Insurance costs
- Connection fees for water, gas, electricity, and sewerage.
Can I Reduce My Building Costs?
While building a new home in Sydney can be expensive, there are a few ways to reduce costs and try to stay within your budget. These may include:
- Choosing a smaller or more appropriate home design, rather than trying to build something too large or too grand
- Use cost-effective materials and finishes
- Shop around for competitive quotes from builders and tradespeople
- Do some of the work yourself if you have the skills and experience
Building a home not just in Sydney, but just about anywhere in the country is a significant investment – so put the task in the hands of somebody you can trust. At HYSPEC Homes, we can assist with your project from start to finish and deliver a new home you’ll love. Talk to us today!
Talk to Hyspec About Your Home Renovations Or Extensions Today
We serve all of Sydney and Wollongong, and strive to make your next building project a successful one.
