One of the biggest decisions of your life will be buying a new home. Whether you build this or buy an existing house- moving into the home of your dreams is an important step, so make sure it is exactly what you want. After all this house has to grow with you and your family’s lifestyle for many years to come.
The process of deciding just what the new home should include goes through many stages, from “wouldn’t it be nice if it had…”, through to a final list of “it definitely has to include that”. Quite often, people get to the end of this process with a large list of luxury house inclusions as well as a particular design style in mind.
Choose the right builder for your dream home.
If the list of “must haves” is long, quite often an architect or a custom building firm is the first person that people talk to, as they assume that the scope of their dream home is beyond the capabilities of a project builder. But while these custom builders may be able to get exactly what you are after, it generally comes with a much higher price tag per square metre than a comparable home by a project builder. So just why are project builders cheaper?
Why are project builders homes so much cheaper than custom builders?
1. The building process
Custom builders need an architect on staff that works with you to translate your ideas to a plan, and then works to get this plan approved by your local regulators. They will then oversee the build to make sure the design is being translated into your home, which further increases the cost.
2. Number of houses being built
Custom builders have a smaller pipeline of houses that they are working on at one time, so they don’t have the leverage to drive down material and labour costs like the project builders have, making the final product far more expensive. This might seem as though a custom builder is unnecessary, however for many this is an adventure that is worth the extra cost for their forever home. Having a constant level of building volume is the main factor that makes project builders cheaper for the majority of comparable projects.
Project builders are geared up to deliver a higher volume of homes at reduced cost per square meter by using economies of scale when it comes to the ordering of materials and the allocation of trades people to build your home. With luxury ranges being offered by major project builders across all states, you can have comparable inclusions to a top of the range custom home, and also the ability to make some variations the final layout.
3. Excluded luxury options
The other advantage of using a project builder is that they generally have a wide range of display homes to visit, so you can get more a sense of the look and feel of your new home before deciding to engage the builder. You may even be walking through an exact copy of your dream home. Just make sure that you ask the consultants at the display home how much that version of the design cost- builders will always have display homes with all the bells and whistles which may be $100,000’s over the base rate.
4. Last minute changes to the scope
One thing to be wary of if working with a project builder is to get a price for all inclusions and the final design locked down before proceeding. Unlike a custom builder, changes to the scope and inclusions in the project may not be possible once the project is signed off, or can end up being far more expensive than if they were scoped into the home build from the start.
5. The type of block they will build on
An important consideration is that project builders will generally steer clear of unusually shaped or sloping blocks. This is because their designs are set to work only on flat, standard sized blocks. Purchasing a sloping or narrow block may seem too expensive if you have to hire a custom builder, however these lots are usually much cheaper, meaning the price will generally balance itself out.
How can iBuildNew help you?
If you are considering a more complex or bespoke style home or have an unusual lot, make sure that you speak to one of our expert consultants who can help match you up with a custom builder for your project. You can call us on 1800 184 284 or book a call online. Interested in a cheaper option with a project builder? You can compare house designs and floor plans side by side at www.ibuildnew.com.au.
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
1800 184 284
