Square metre rates explained and why it is so important to know when you’re building a custom home on the Gold Coast or Sunshine Coast.
According to the Association of Professional Builders, 80% of architectural designs are never built.
Most people base the cost of their new home on a square metre rate, and you can never, ever trust that.
The main thing you need to think about is the complexity of the design. If you don’t take this into account, you are bound to go over budget.
Let me give you an example.
You don’t expect every size 9 shoe to be the same price. You know that there are some brands and materials that are cheaper and some brand and materials that are more expensive.
What Do You Need To Factor In?
The same can be said with a new home, there are so many factors to take into account (even more than shoes!).
Think about it, your average home has hundreds of ‘ingredients’ things like carpet, bricks, tiles, kitchens, bathrooms and handles – just to name a few.
What’s more, all of these materials come in different qualities, styles, shapes and colours which vary in cost.
And the way they are assembled into a finished home varies greatly in relation to detail and quality.
This is what many people don’t consider while designing their own home.
It can cause serious heartache once the design is complete and taken to a builder only to find out that it is way over budget and you can’t afford to build the home.
Not only that but you have wasted so much time and in some cases spends thousands of dollars on a design that is impractical and unaffordable.
This scenario is much more common than you think, but there are a few easy tips to help you avoid it.
What Can You Do?
You should always include a professional builder in your design process.
Be realistic in your expectations and make sure your budget is updated after each significant change and don’t be afraid to ask questions about details, make sure you know exactly what you are getting.
For example one builder may charge $1,000 / sqm while another may be $1,700. Does that mean that the second builder is ripping you off?
And you won’t know until you look into the details.
The truth is, you could be comparing apples with iPhones.
See, 2 homes may be 200 square metre, but if one is on a corner block and the other is on a narrow block, the homes are 2 completely different shapes.
At first look it would be hard to tell which would cost more. But one has a considerable amount of extra walls, both internal and external, that need to be included in the cost.
This means extra guttering, bricks and metre of gyprock, not to mention the extra paint, windows and doors.
Every house is different, so although 5 different houses may contain the same number of square metre, the amount of building materials alone, plus the quality of materials chosen can mean 5 significantly different cost per square metre values.
Why you Should Care
At the end of the day, we don’t want you to fall into the trap of comparing house prices based on square metre rates – there are just too many variables for this to be an accurate measure.
Worse still it may leave you with an apple when you really wanted an iPhone.
Luckily for you there is a very specific process to designing your home without going over budget and avoiding all the traps.
Click on the link below to take a peek at our luxury design range to get your journey started or send us your details and we can go through the process together.
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