When it comes to building a home, one question that comes up is whether it's cheaper to buy existing or build your own home. Unfortunately, there's no easy answer: it depends. The cost of building a new home depends on several factors, such as the size of the house, floorplan design, location, availability of land, and desired finishes (facade, inclusions and upgrades).
For a quick price estimate for the cost of building your home, use our online tool to determine the cost of your preferred Clarendon Homes design.
From the cost of land, to taxes and more, here’s what you might be looking at on top of the home design itself.
One of the major costs of building a home is the price of land. For instance, focusing on South East Queensland, the median lot price is $357,717 (based on the median block size being 421sqm), according to the Urban Development Institute of Australia's 2023 State of the Land Report.
Land price in SEQ has grown to $851 per sqm, with Brisbane’s median land value sitting at $620,000 from June 2023, according to data released from Brisbane City Council.
However, the price can vary depending on which suburb and city you wish to build in.
It should go without saying, but a simpler and smaller a home design, the cheaper it is to build. While the more complex and larger designs cost more. Take a look at our popular Boston series. If you love the design but have a smaller budget and block size, we have different options. The series includes the Boston 35, Boston 37, Boston 38, Boston 39 and Boston 43 to suit different requirements.
Another factor in the costs to build a home is the set of inclusions chosen, Aspire or Luxe. At Clarendon Homes, you can choose between two levels of inclusion for each and every home in our range. Each level is carefully curated by our interior design team to suit different tastes and budgets. See the difference price options based on Aspire and Luxe inclusions with our popular double storey Bayside 36. Choosing to upgrade to more premium inclusions will increase the cost of your build, but will add long-lasting value to your new home and will not lead to needing upgrades later down the track.
In addition to the land and build costs, there are other fees and reports to consider, such as:
These costs may seem small compared to the land and build costs, but they can add up and impact the final figure.
If you're planning to build a home, take the time to look ahead and envision what your new home will look like once it's complete. Although the cost may seem daunting, it'll be a thing of the past once you make your home yours.
To start planning your future home, browse Clarendon Homes' range of home designs today.