Welcome to the latest edition of Top 5 by Pitch Studio!
In this month's newsletter, we will delve into one of the most important aspects of constructing a new home: understanding the costs involved. Building a new home in Australia requires careful planning and consideration of various expenses. Let's explore these costs to help you navigate the process more effectively.
01 - Design Fees
Engaging an architect or interior designer is crucial for creating a home that works for you and your family and all aspects are considered such as natural lights, functionality and cost effectiveness for construction. Architectural fees typically range from 5% to 15% of the total construction cost, depending on the complexity of the project and the level of involvement required. These fees cover design development, documentation, and obtaining necessary approvals.
02 - Approval and Consultant Fees
Obtaining permits and approvals is an essential part of the building process. Local council fees, consultants and certifiers all come with associated costs. These expenses vary depending on the state or territory and the size and complexity of your project. If your project requires a DA council's fee is a percentage of the cost of your build and you will also be required to pay their long service levy. Depending on the conditions of your site you will also need to engage specialist consultants including, heritage consultants, planners and engineers. These range between $2-4k for each service depending on their scope.
03 - Post Approval Fees
Following receiving your approved DA or CDC (Complying and Development Certificate) you will then need to obtain a CC and OC (construction certificate and Occupation Certificate) which involves engaging a certifier and having your architect or designer carry out construction documentation which has more detail of the construction of your home for the builder. A certifier can cost between $3-5k depending on the scope of your project and they are involved throughout to carry out inspections as well as issuing the OC which is required before you are able to move into/back into your home.
04 - Interior Finishes and Fixtures
The interior finishes and fixtures you choose will impact both the overall look and the final cost of your home. From flooring and cabinetry to lighting and appliances, every detail contributes to the final budget. Consider your preferences and budget constraints when making choices in this area. It is always good to do a combinations of price points for these items and spend money on items you will see and use and appreciate everyday.
05 - Interior Finishes and Fixtures
It's crucial to set aside a contingency fund to account for unexpected expenses or design changes. As a general rule, many builders recommend allocating around 10% to 15% of the total construction cost as a buffer. This fund provides peace of mind and ensures you're prepared for any unforeseen circumstances as things always pop up no matter how prepared you are.
WHAT ELSE DO YOU WANT TO HEAR FROM US? HIT REPLY
If you have ideas, feedback or requests in the meantime, reply to me to let me know! I would love to hear from you.
Oh, and if you just can't wait for the next email, make sure you check out our instagram for all we are up to by clicking here.