Designing then building your own home is a dream come true for many around Australia. During the planning process it is so easy to overlook household essentials you will later regret not having budgeted for.
Whether big or small, these sometimes-forgotten costs will almost certainly add up – so make sure you have a checklist at the ready so you don’t get blindsided.
Fencing
For those seeking to build a home on new land, fencing should definitely be a cost consideration.
Some builders will include it in the fees, while others will leave it out. This may vary from builder to builder, some may only require you to pay for half of it – factoring in that you will be sharing the fence with your new neighbour.
Typically, you will be charged per fence meter, making this cost a fairly large one. This depends, however, on the type of fence that you and your neighbour agree on.
The national average of installing a wooden fence comes at approximately $2,700 – again, depending on the size of the property, or area being serviced, and building material.
Home Insulation
Having high grade insulation should be considered an essential for all homes. Insulation works as a barrier to heat flow and will keep your home warm in winter and cool in summer.
Getting insulation is among the smartest decisions a homeowner will make. Consider that even if you pay a hefty price for it, you will be able to recover that lost money with lower utility bills through time. If you can’t afford to do the entire home, consider covering one area at a time.
Costs are variable and will predominantly depend on region climate, but also your home’s style and layout.
All considered, the average home will cost approximately $5,000, through professional services.
Temporary Accommodation
Money used for temporary accommodation while your home is being built is never really wasted. A lot of where you go, and how you choose to spend will depend on your personal situation. If you are by yourself then the choice where to stay will be far simpler. If you have a family to factor in, there is a lot more to consider.
Weigh up your wants and needs for accommodation. Location, availability and pricing may sit atop this list, but also factor in how long you’ll potentially be staying there, and how often you’ll want access to your building site to check up on progress.
You could move into a rental property. This option may involve loads of hassle, but there is a level of security involved with it that may not come with other options. By choosing this option, however, you’ll be able to pick a location that caters to all your needs. This is a relatively expensive choice, considering rental payments, contractual obligations and so forth.
Moving in with family or friends is among the smarter options available. It will save you a lot of money, a lot of time, and doesn’t come with added on contractual ties such as stay in a rental property. Depending on how strong your bond is with those you are staying with, costs may be minimal, or at the very least, far less than the alternatives.
TV Antenna and other connections
No home entertainment will be complete without the best TV reception. For those fortunate to have a home cinema included in their building plans, this may be a necessity. Before installation, you’ll need to consider where and how many TV antenna points you will need around your home. Where are your TVs located? Will it be easy access for a tradesperson to access these points?
While it is possible to install a new antenna yourself, it may not be the best idea. You’ll firstly need access to the right equipment, and then know your way around the points in your house the safest way possible. For this risky task, it’s well worth contacting a professional antenna installer.
Depending on the layout of your home, how many rooms you’ll need serviced, what materials will be needed for the job (cabling, connectors, mastheads, amplifiers etc.), installation will start from approximately $200.
Are these costs terrifying for you? Cut costs with a narrow block.
For more information regarding property investments or building costs, be sure you speak to one of our home building experts on 1800 184 284. They are independent and motivated to see you achieve your property and investment goals. You can also book a call online.
Let us do the legwork for you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing
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