Making Budget
Material and Construction Costs
The construction costs encompass materials, labour, carpet area, number of floors, equipment, design complexity and necessary permits. Obtaining detailed quotes from building contractors or builders can help in determining a realistic construction budget.
View Estimate
Land and Site Preparation
The cost of land can vary significantly based on factors like location, size, and proximity to amenities. Site preparation expenses, such as clearing the land, excavation, and levelling, should also be considered.
Architectural and Design Fees
Appointing an architect or designer to create the plans and blueprints for your house involves fees. It is important to discuss and negotiate these fees upfront to avoid unexpected costs.
Permits and Inspections
Obtain various permits and approvals from local authorities for the building, electricity, plumbing, and more before construction commences. Additionally, periodic inspections during the construction process may incur additional costs.
Contingency Funds
It is wise to set aside a contingency fund as a buffer to cover unexpected challenges and unforeseen expenses that can arise during the construction process. Allocate around 10-15% of the total project cost as a contingency fund.