Costs to Consider When Building a New Home

Construction Services

When you think of building a new home, you might think of how much the materials will cost, or much the labour and architectural services will cost, but there are some fees that you may not consider. It’s important to be across all possible costs and to have a proper understanding of just how much this venture will set you back. That way, you can build your dream home without the burden of financial uncertainty.

Site Costs

All homes need to be connected to water, electricity, gas, sewage and NBN, and if these services don’t run up your block then you will need to pay to have them extended to your home. The amount this will cost is dependent on the soil test report – another expense to factor in – and the distance to the nearest juncture. These costs can be significant, with an additional $10,000 to $100,000 possibly added to your mortgage.

Miscellaneous Costs

Extra costs such as registration fees, solicitor’s fees and bank loan fees can add up, so it’s important to know how much each of these will set you back and factor them into your overall budget. Your local council may also add a few hundred on top of your first rates bill when they supply you with wheelie bins. These fees are typically unavoidable and unnegotiable, so it’s best to be prepared.

Section 94 Report

If your new home is estimated to cost more than $500,000 then you may be required by your local council to provide Section 94 contributions – a report detailing all the costs of the project. This payment will allow council to provide new services and public amenities to meet the needs of the local community because of the new development. Enlisting the services of a qualified cost estimator for help on this matter is your best way forward.

Turn To Trusted Construction Cost Estimators

For assistance with the costs related to your new home build, OptiBuild Services can help you gain a clear picture as to how much the project will total, and provide assistance on generating necessary reports.

It’s much easier to build your new home with a team of construction cost estimators on your side, and we can help you reduce your building construction costs and streamline your building project, so please get in touch with our team today to learn more.