16 Apr 2022

How Much Does it Cost to Build a House?

Cost to Build a House

The cost to build a house in the Australian housing market has seen increases over the last few years. Nonetheless, owner-builders can save on costs. Plus, they can build the home for less than the purchase price of an existing property.

In 2018, the average cost to build a home came in at $313,000. Although the number became the average, the range is wide. Depending on where the owner-builder and investor want to build, they might incur a cost of $270,000 or $1 million. Since owner-builders and investors can build their dream homes and multi-unit structures with different amenities, one set cost does not exist. They can expect a minimum cost. Then, it goes up based on the number of rooms, features, and stories.

To estimate the costs, it’s easier to look at the cost per square metre. For example, professionals estimate that looking at costs in this manner nets a range of $1,200 to $1,700. Factors that impact cost include:

  • Permits
  • Labour
  • Infrasture

The paint, number of electrical outlets, and flooring type also impact the costs. Professionals encourage home builders to mix quality materials with more affordable ones. The combination nets a beautiful home that has sturdy bones. Location plays a role in the costs. 

Mortgage House works with owner-builders and investors seeking financing for construction projects. 

Cost to Build a House Conclusion

Even though the exact cost to build a house in Australia varies, Mortgage House can help owner-builders and investors borrow the correct amount. Contact our loan specialists today.

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