The Cost of Building…..the real truth!

Mr Big & I are both 37 years old, but for the purpose of making me feel better and just in case any of my friends read this and work out I’ve been lying to them for years let’s pretend in 33, 33 sounds so much nicer…. I plan on documenting the truth, the whole truth and nothing but the truth about the real cost of building a house……age has nothing to do with building remember!

The Cost of Land

I stumbled across our block of land when dropping Ms Have’a’chat off at her friends birthday party. 748sqm of prime real estate right by the beach. I jumped online and sent an email to Satterly.
“Good afternoon Ms Prez, thank you for your enquiry, for the bargain price of $420, 000 including fencing and a front landscaping package this beautiful block of land could be yours” Ouch, now to convince Mr Big to spend almost half a mil on a chunk of dirt!
I need to do some research before hitting Mr Big up.
I compare sale prices for the area and find some helpful ammunition information, the block 3 doors down, that is around the same size but is facing the beach, just sold for $680, 000, technically we are getting a bargain I tell Mr Big.
We meet with the Sales Rep from Satterly and put in an offer of $395, 000.
I won’t bore you with the back & forths but in the end they accept our counter offer of $405, 000. We pay the deposit and I promise Mr Big to curb my shoe shopping addiction.

image

Stamp Duty on land

I actually have no idea why the hell we have to pay it, im assuming it is so we receive mail to our new address, anyways it cost us $13, 000!!!!!

Cost of the House

Tomorrow im meeting with Glenn from Summit Homes to receive the final costings of the changes I made last week. Mr Big is away at work until Monday.
The costings so far –
1. Summit Custom Design – Display specification
Includes
– 31c ceilings to living, dining, kitchen, scullery, master suite, entry & alfresco
– stacker doors with recessed sill to alfresco
– 1200mm stain grade front door
– stone benches throughout
– waterfall edges to kitchen
– undermount sinks throughout
– overhead cupboards in kitchen and laundry
– undermount rangehood to kitchen
– hobless showers
– flush sliding door to block noise from Ms Have’a’chat & her friends end of the house
– grano with mesh to alfresco
– black drainage grate to alfresco
– hot / cold water and gas to alfresco
– single clear glazed door to laundry

BASE PRICE $ 317, 900.00

Extras –
– recessed ceiling to entry with scaffolding allowance $775
– bi fold panel windows to theatre with stone servery benchtop $9,195
– provide cladding to front elevation $ 6, 492 (we removed one wall of clading last week and added a portico instead)
– add freestanding 1700mm bath $4, 002
– added 1200mm high tiling to wet areas $2, 700
– air conditioning 10 outlets 6 zones $11, 900
– upgrade to three phase power $218
– add carpets to bedrooms, study, activity and theatre $3, 283
– interior wall painting $7, 376 (removed, will get our own painter in after handover)
– rectified porcelain tiles throughout remainder of house $13, 100

Tomorrow I will receive our site works costing, rough guesstimate $16, 000
Add portico cost roughly $10, 000
Extend tiling to alfresco
Im pretty sure I added a few extra items so will update tomorrow.
Glenn also reminded me that he hasn’t applied a discount yet so hopefully that will cover a few of the added extras we want.

Wow, this sure does add up quickly. Not to mention we haven’t even factored in lighting, the pool, window coverings or back landscaping yet and im guessing my dressing room fit out will be pricey as well. Hmmm maybe time for me to get a job!

Update

As promised, here are the updates from my meeting with Glenn today.
Firstly, Mr Big please read! I actually saved us some money today, the extra costings came in cheaper then expected and I managed to not add or upgrade anything, yay me!
Updated costs –
– Enclose bedrooms 2, 3 and 4 WIR’s with door $1, 254
– Upgrade all internal doors to deco 1s doors $2, 247
– Upgrade toilets to back to wall $774
– Upgrade stone to Carrara $1, 500 provision
– Tile alfresco in rectified porcelain tiles to match living areas $3, 410
– Provide 3 x banks of pot drawers to kitchen $ 2, 169
– 2 x Hafele bin drawers for scullery and kitchen $1,146 Each
– Provide full panel glass in lieu of standard to ensuite, bathroom, living & dining windows $635

With the changes we had made last week and by deleting the painting and extra cladding we actually ended up with a credit today of $5, 084.
Then add the Site cost provision of $15, 550
……and we are nudging the 400k for the house already ! Can anyone say “I believe we are seriously close to over capitalising here”
I think Mr Big & I may need to get the red texta out tomorrow night when he comes home.

2 thoughts on “The Cost of Building…..the real truth!

  1. ๐Ÿ˜‚๐Ÿ˜‚ oh dear lord we so have to meet!! “Just turned 38 but for purely vane reasons I am actually still 33″… coupled with OCD & managing to chose everything that is out of price range… were peas in a pod!!
    Oh & your costs… add a bit ๐Ÿ˜‚.
    Good luck ๐Ÿ€

    Liked by 1 person

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s