How Much Does It Cost to Build A House in Brisbane?

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How Much Does It Cost to Build A House in Brisbane?

House prices in Brisbane are among some of the highest in Australia, making it a city that is not only expensive to live in but also difficult for first-time buyers. As such, if you’re looking to buy your first home, you may be curious about how much it costs to build a house in Brisbane. Knowing this information can help give you an idea of what kind of budget will be needed when you start eyeing up building a house in this city.

The Basics of Building a House in Brisbane

Several things need to happen before construction can begin. Here’s is the process to follow.

1. Find a block of land to build on 

There are a few different ways that you can go about this. The first would be to go out and find a block of land yourself.

2. Choose a builder

For builders, it’s wise to go with someone who has plenty of experience building homes in your area and can work within the confines of your budget and timeline.

3. Apply for a building permit

If your builder is confident that your chosen block of land will support the construction of a house, then it’s time to submit plans for a building permit.

4. Consult with a lawyer

Building a house is a big project, and buying a block of land to build on is a business transaction. You must get the best leading construction and infrastructure litigation law firm in Brisbane to draw up a contract between you and your builder. This will help to protect you as the buyer as well as the real estate agents involved in the transaction.

How much deposit do you need to build a house?

There are many things to consider when you want to build your own home in Australia. One of the main considerations is your deposit. Your deposit can range anywhere from 10% for a low-cost home purchase to 30% or more for the expensive property. This can range from $500,000 to $1 million depending on the size of your house.

For those that don’t know, off-the-plan properties are newly built properties that are sold to buyers before they are constructed. For example, if you were buying a property off the plan in an area where there is a lot of development, let’s say Kangaroo Point in Brisbane, you would be buying the land before any construction has been done.

Factors That Influence the Cost of Building a House

Here are three factors that can have an impact on the cost of building a house in Brisbane: location, size, and type of property:

1. Location

The location of the property is a major factor that will affect how much it costs to build a house. Different locations have different features and amenities which can enhance or reduce the value of your property.

2. Size of the property

The larger the plot, the more expensive your new house will be to construct because bigger plots allow for better design and construction. An above-ground pool can create a bigger backyard but can increase the overall costs of building by ten per cent or even twenty per cent.

3. Type of property

Different styles and types of properties such as apartment complexes, townhouses, and detached houses all come with different costs. For example, an apartment can be built for half the cost of building a similar-sized detached house.

Bottom-line

Building a house in Brisbane is a complicated process. Affordable housing rates are dependent on many external factors such as location, size, and type of property. One can find more information about building costs from the numerous online sources available on the internet.

Featured photo by John Fornander on Unsplash
Patrick_Watt

Patrick is a content writer, writing in several areas, primarily in business growth, value creation, M&A, and finance.

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