We understand that price is important when you’re looking to build your new home. Often the first question homebuilders ask is “what is the price per m²”, yet the true cost of a home depends on many factors.
We explore what impacts the price per square metre in more detail below.
Size of the home
Generally speaking, larger homes are often cheaper per m² simply due to there being more space to divide the costs into. With a smaller home you have less square meterage to divide the costs of expensive rooms such as kitchens and bathrooms into. Comparatively, a large garage, which doesn’t require an expensive interior fit out, will bring down your m² rate.
Shape of the home
The exterior wall is generally the most expensive wall due to insulation and cladding requirements. A home with more perimeter wall will likely require more joinery and a complex design will require more labour to build, all impacting the m² rate. The home shapes below all have the same floor area of 100m² yet the perimeter walls length is different on each. Home ‘C’ will likely have a higher m² rate.
Complexity of Design
A more complex home design will have a higher m² rate. Gables, split roof lines, high windows and steeper roof pitches are more expensive to build compared to conventional trussed roofs with flat ceilings. Split level, double-storey, or homes that need specific structural engineering will also be more expensive. The examples below both share the same floor area yet the home on the right will be more expensive to build. The higher roofline, additional wall area and joinery as well as the high sarked, timber ceilings will all contribute to a higher per m² rate.
Complexity of site
Sites that are sloping are more expensive because they require extra earthworks. So too are sites that are not on ‘good ground’, such as peat, organic soil or soft clay which are more expensive due to piling and extra foundation requirements. Distance to services,removal of greenery and access to the site will also impact on overall costs.
Planning to maximise your budget
The level of finish in your new home, room sizes, quality of fixtures and fittings and cladding options will have an impact on your m².
Whole of life cost
We all tend to go for the cheapest up-front price but this may not be beneficial in the long run. Consider what your home will cost to run and maintain over the next 10 years. The Lockwood building system provides significant cost savings over the lifetime of a home, including thermal efficiencies, minimal exterior and interior painting requirements and proven resilience in extreme weather and natural disasters.
It’s important to consider all factors and ensure you get an accurate quote for your build, rather than an estimate based solely on the square meterage. When you talk to our team, we won’t offer a square metre rate for your project. Instead, we will talk to you about your site and requirements, and find the best way to work within your budget to build the home of your dreams.