How Much It Costs To Build A House

With so many building contractors in Adelaide, it’s hard making a hiring decision and estimating building costs. In this guide, we’re going to look at the factors affecting construction prices. We also reveal hidden costs that many are not aware of. Because we love Home Building Construction News.

What’s the Cheapest Option?

For people building on a budget, affordable options are available. Large properties are costly to build. Therefore, to save big bucks, stay small. Flooring, roofing and site works are huge expenses.

Surprisingly, you can build a 3-bedroom house with a spacious lounge, dining room and master bedroom without breaking the bank. Use cheap building materials to cut costs. If you’re cash-strapped, avoid exquisite designs.

Under no circumstances should you work with a low-cost builder. Instead, hire a reasonably priced contractor who’s experienced and has an impressive track record.

Building per Square Metre

Homes are built in terms of dollars per square metre ($/m2). The calculation is simple. Take the total building cost and divide it by the total floor space. When it comes to price per square metre, custom-built homes are more expensive than project homes.

Additional Costs to Consider

Losses and regrets are likely if hidden costs aren’t taken into account. It’s difficult to estimate building costs if you’re in the dark about your land and build. Use this as a starter guide:

  1. Soil Quality – If the soil is complex to work on (stones, clay, boulders, etc.), expect costs to rise.
  2. Block’s Slope – There are minimal charges for a flat block. Sloping blocks attract extra fees.
  3. Soil and Outline Test – Done to determine the soil’s quality and block’s contour.
  4. Fire and Flood Prone Areas – Properties with a Bushfire Attack Level (BAL) incur additional costs. A property in a flood-prone area is costly because measures are taken to avert deaths during flooding.

Bigger Houses, Higher Costs

4- and 5-bedroom houses are quite expensive. What makes these structures costly is the floor space they occupy. Factor in site fees, flooring and roofing to approximate the full project expenditure.

Why Are Builders Costly?

Most people prefer small-scale builders to large construction companies. Aspiring homeowners think builders are an affordable option. But there are other costs involved:

  • Home Design – First, you need to hire an architect to design your home. Architects don’t come cheap.
  • Materials – Construction companies purchase materials in bulk. Often, they’re happy to use inexpensive alternatives. Unscrupulous builders ask you to purchase building materials. Because you don’t know the best and most affordable merchants in town, wrong choices and money losses are inevitable.
  • Project Manager – Besides an architect, a project manager is needed to manage the build.
  • Labour – Builders hire subcontractors because they don’t have sufficient in-house workers. That increases labour costs.

Get Quoted for Building Costs

Few companies reveal their prices online. You’re required to call or visit their offices to obtain an estimate. Don’t be swayed by dirt-cheap quotes. Make sure you’re getting the best value for your hard-earned money. Employing a builder who has no successful projects under his belt is pouring money down the drain. Learn how to find an expert builder.

See Kookaburra Homes for your next build and get in touch with their amazing team in Adelaide, SA.

Construction Equipment Insurance

Construction equipment insurance is a must if you are a contractor or work in the construction field; tools and heavy equipment are most likely your livelihoods. Without these things, you would be out of business! The types of machines, tools and other equipment used in construction can be extremely costly. This is why you want to make certain that they are covered in case of loss, damage or theft. The information below offers tips on how to find construction equipment insurance that not only meets your coverage needs but is affordable as well. Because we love Home Building Construction News.

Two types of insurance you should consider

There are actually two types of construction equipment insurance that may both apply to your needs and are often contained in a single policy.

A commercial property policy is standard and provides coverage for anything deemed business personal property such as computers, tools, equipment, phone systems, office furniture, etc. In other words, this policy covers any property that is within a 100-foot radius of the address displayed on the property, other than any limitations or exclusions stated in the policy.

The drawback here is that heavy equipment and tools you normally use on other property are not covered. If you work in construction, you may find that much of the time you are not working on your own property, so what do you do about construction equipment insurance at this point?

Also, see How Much It Costs To Build A House.

Inland Marine policy

Yes, the title sounds strange but the story of how construction equipment insurance earned this name is far too long to go in to.

Basically, this coverage is divided into three categories that may apply to you:

• Contractor’s equipment floaters
• Installation floaters
• Builders risk

Contractor’s equipment floaters – This section of the Inland Marine policy covers equipment and tools, with items that are worth under a certain value lumped together and placed in a “Miscellaneous tools & equipment” category.

Installation floaters – This section of the construction equipment insurance policy covers building materials that may be setting on-site while you are in the middle of a construction project. This coverage is in effect during the time the materials are in transit as well and stays in effect until the materials are actually secured to the building or structure that is being repaired or newly constructed.

Builder’s risk – This coverage protects the structure that is under construction against physical loss due to fire, vandalism and other circumstances (earthquake and flood damage are normally excluded.) This protection normally begins on the date construction starts and remains active until the date the project reaches completion.

Construction equipment insurance is absolutely necessary to protect your assets. Shop around online to find the coverage you need as well as rates you can afford. Always be certain to research the reputation of the provider, and compare policies closely to make certain that when shopping quotes you are comparing the exact same coverage in each policy.