What Will My Build Cost?
One of the most frequently asked questions at Becker Construction is, “What will my build cost?” It’s a fair question, and while we would love to provide an instant answer, the reality is that several factors influence the final price. If you’re planning a new build or large scale renovation in the Bay of Islands, it’s essential to consider various aspects of the process, from whether you already have house plans to the choice of materials and who is involved in cost estimates.
At Becker Construction, we work closely with architects to ensure a seamless process from design to build, and we always recommend engaging the right experts at each stage. Let’s dive into the main factors affecting build costs and how you can get the most accurate estimate for your project.
Have Your Plans Ready
If you already have plans drawn up by an architect, you’re off to a great start. Architects bring incredible value to the table, designing homes that suit your needs and enhance your space’s aesthetic and functional aspects. Once plans are drawn, the next crucial step is to understand the cost implications of turning those designs into reality.
While architects often provide initial cost guidance, it’s beneficial to engage a Quantity Surveyor (QS) for a more detailed and impartial cost estimate. A QS can offer an independent assessment of your project’s costs, ensuring a clear and realistic budget from the outset. They work alongside architects and builders to provide precise estimates, avoiding surprises later in the build.
At Becker Construction, we always collaborate with a Quantity Surveyor when pricing up jobs. This helps ensure that our clients get accurate, transparent figures and that our pricing aligns with the project’s complexity and materials.
The Cost-Per-Square-Metre Rule of Thumb
One of the first steps in estimating a build cost is to understand the price per square metre. In 2024, estimates vary depending on the type of home you want to build. A standard, high-quality home typically falls within the $3,500 to $4,000 per square metre range. However, for architecturally designed homes or high-end bespoke builds, prices can easily start from $6,000 per square metre or more.
To give you an idea of where your project might sit, here’s a rough guide to cost-per-square-metre estimates:
- Basic homes: Starting from around $3,500/m².
- Mid-range homes: Between $4,000 – $6,000/m², more typical for most high-quality homes.
- Architecturally designed or prestige homes: $7,000/m² and beyond, reflecting the uniqueness and quality of the design and materials used.
This cost framework offers a starting point but keep in mind that every project is different, and your specific requirements, finishes, and location will affect these figures.
The Role of Material Costs
Materials are a significant driver of build costs. The good news is that, after several years of rising prices due to supply chain issues and high demand, we’re finally seeing a small decrease in material costs in 2024. According to the Cordell Construction Cost Index (CCCI), the cost to build new homes dropped by 1.1% in the second quarter of 2024, marking the first decline in over a decade. This was largely due to the resolution of pandemic-related disruptions and the completion of a surge in building consents.
While this decrease is a welcome relief, it’s essential to remember that high-end materials often come with a premium. If you’re looking for bespoke finishes or sustainable, energy-efficient materials, these will inevitably increase your total build cost. However, investing in quality materials not only enhances the look and feel of your home but can also improve its long-term value and energy efficiency.
External Factors Impacting Your Build
Beyond square metre estimates and material costs, there are other factors that can affect the price of your build:
- Location: Building in more remote or scenic locations, often found in the Bay of Islands, can add costs related to logistics, access, and site preparation.
- Site conditions: The complexity of the building site itself can affect pricing. Steep or uneven land may require additional foundation work, drainage solutions, or earthworks, all of which can add to your costs.
- Design complexity: The more intricate and unique your home design, the higher the labour and materials costs. Features like large windows, complex roofing structures, or custom-built elements require specialised skills and more time to execute.
- Local regulations: Building consents, resource consents, and adhering to local council regulations can add time and cost to your project, particularly if your build requires additional planning considerations due to its size, location, or design.
Getting the Most Accurate Estimate
At Becker Construction, we know that your home is a significant investment, and we’re committed to providing accurate, realistic pricing from the outset. By engaging both an architect and a Quantity Surveyor early in the process, you ensure that your project is not only beautifully designed but also financially feasible.
It’s always a good idea to have open, clear communication between your architect, builder, and QS, as this collaboration helps avoid misunderstandings and ensures your budget aligns with your expectations.
When you’re ready to discuss your project, we’d love to chat. Whether you’re in the early planning stages or you already have detailed drawings, Becker Construction can guide you through every step of the process, ensuring your build is both stunning and cost-effective.