A big question first home buyers (or builders) ask themselves is whether it’s better to buy or build new. To answer this, you should always keep track of construction costs in your city. For you Brisbanites, the average cost of building a house in Brisbane is $473,000, according to ABS.
This number has increased over the past few years initially because of supply chain shortages over the pandemic period. Then more recently, because of labour shortages from the Russia-Ukraine war and flooding.
So, before you decide to get your wallet out, let’s look at what factors affect the final price of building your own home in Brisbane and how long it takes to build a home.
Cost of building a house in Brisbane
The cost of building would largely depend on the size and type of house you want. First, you need to secure the land. The site cost varies according to the plot’s location. Once you have ownership, you need to decide what you want.
The average Australian home has three bedrooms, two bathrooms, and a garage. A recent report by Commbanks says that these houses span an average of 235.8 square metres. These are large houses, and we used them as a reference for our estimates.
Average building costs per square metre
These are the rates you’ll find when you go looking for quotes. It’s a common unit for people in the construction industry. However, it’s still a rough estimate. That’s because these costs are more accurate for empty rooms than for something that requires a bit more detail, like a kitchen.
Let’s say a 235.8 square metres house costs $473,000. Thus, you’ll pay upwards of $2005.93 per square metre, as the cost of building a house in Brisbane. Again, there are multiple factors affecting these prices.
Factors affecting construction costs in Brisbane
Let’s say you already have a plot of residential land. To build a house, you still need to consider building materials, labour costs, timeframe, and more. Moreover, you have to make an inspection of the terrain. If the land has trees or is uneven, it will need to be prepared for construction, which adds to the overall cost.
High-rise houses offer more space and privacy, but it comes at a price. Another important consideration is the company you use to build the house. Different builders offer different rates, so get multiple quotes. There are also planning fees.
Generally, pre-approved plans cost less. But you’ll need to pay more if you want something more customised.
Building contracts
Once you’ve found the right builder, you’ll need a building contract. We recommend a fixed-price building contract. As the name indicates, you agree on a price. Afterwards, the contractor is bound to complete the building at that price.
Some contractors will try to get you to sign the contract by offering low contract fees but adding provisional costs that can add up later. These contracts have two variables you need to look out for.
Suggested Reading: We rounded up the Best Home Builders in Australia to help you find the most suitable on for you – check it out!
Prime cost
The builder can’t give you an exact amount if you haven’t decided on a specific material for something. In such cases, they mark these items at minimum prices.
However, later when you actually choose the material, it could be more expensive. So, you’ll have to cover the difference. Try to avoid this and specify the materials as much as you can to avoid paying more in the future.
Provisional sums
Provisional sums are supposed to cover any unforeseen expenses. For example, the land looked okay, but as soon as the builder started excavation for the foundation, it was tougher than expected. Provisional sums usually cover these expenses.
Be careful, some builders give you low contract prices supplemented with these sums, and the actual cost is much higher.
A house in Brisbane: Is it better to build or buy?
Often, building a new house is almost always more expensive than buying a ready-made one. However, it would be easier if you want to customise everything to fit your exact requirements.
Building a house involves loads of cash and time. So, if that’s not your thing, construction might not be a good idea.
You can always buy an existing house if you can’t afford the costs to build a home.
You can look for properties listed as real estate in Brisbane. Once you find a home similar enough to the one you want, you can go for renovations. Renovations cost a lot too, but it’d still be cheaper than building a home.
More on the cost of building a house in Brisbane
In case you’re a Melbournian, check out our guide on the costs to build a house in Melbourne.
How much does it cost to build a 4 bedroom house in Brisbane?
The average cost to build a 4 bedroom house in Brisbane is between $2,500 and $4,500 per square metre. This means that a 200 square metre house would cost between $500,000 and $900,000 to build. The actual cost will depend on a number of factors, including the size of the house, the materials used, the finishes, and the location.
Is it cheaper to build or buy a house in Brisbane?
It is not always cheaper to build a house than to buy one. In some cases, the cost of building a house can be more than the cost of buying an existing house. However, there are some advantages to building a house, such as being able to choose the exact design and finishes you want.
How much does it cost to build a 3 bedroom house in Brisbane?
The average cost to build a 3 bedroom house in Brisbane is between $2,000 and $3,500 per square metre. This means that a 150 square metre house would cost between $300,000 and $525,000 to build. The actual cost will depend on the same factors as for a 4 bedroom house.
Can I build a 3 story house in Brisbane?
Yes, you can build a 3 story house in Brisbane. However, there are some restrictions on the height of houses in certain areas. You will need to check with your local council to see what the restrictions are in your area.
