From research, to construction, and putting the finishing touches on your dream home, building a property that meets the specific needs of you and your family is an undoubtedly rewarding process.

For many, the idea of building their own home is a life-long dream. However, the one major barrier to building your own home is costs - as building costs can vary so much, when you’re in the research phase, it’s hard to get your head around how much it’s going to cost to build a new house. 

This article outlines the financial requirements of building a house in Townsville so you go into the journey armed with all the relevant knowledge and numbers!

Table of Contents:

• The Cost of Building a House
• What Factors Affect the Cost of Building a House?
• The Costs of Building in Townsville
• Is It Cheaper to Buy or Build a New Home?
• Choosing Keir Constructions

The Cost of Building a House

It’s the million dollar question - how much does it cost to build a new house? Total home construction costs depend on the level of finish, materials and labour that goes into each unique, individual home.

Average building costs in Australia can range from $1,300 per square metre to $3,900+ per square metre. 

This figure is a rough guide, as building costs can vary significantly based on your location, the project design and the level of the fit-out. The cost of building approvals will also need to be factored in, too. 

What Factors Affect the Cost of Building a House? 

As you can imagine, there are a myriad of factors that contribute to costs of building a house. 

One of these is whether you’re opting for a custom-designed or project home: the former uses an architect while the latter is an ‘off-the-shelf’ design, which causes huge variety in price. A more complex design with lots of custom features will increase the cost of the project, while a more straightforward design may be less expensive. 

The size and location of your property will impact costs. If you’re choosing to build nearer a big city or want a larger home (where more materials will need to be used), then this pushes prices up. As do the materials themselves and the types of construction you opt for.

On average, up to 40% of the total cost of building a home is to cover labour. The individual builder and their pricing structure can vary significantly based on their experience, availability, and construction methods used. 

The land itself can also contribute to construction costs. While Townsville is relatively flat, you can imagine that building on sloping land with difficult access is going to be more expensive than a flat piece of land. If the soil on your block is hard to work with, or if your property is in a cyclone-prone area, you will have more requirements to meet, which can cost more.

The Costs of Building in Townsville 

In April 2022, on average, building a home costs approximately $473,000 in Australia. However, construction costs are increasing, so this figure may now be higher.

Townsville building costs are on par with the average costs involved in building a home in Queensland, at $289,000.

In 2019, it was reported that the Australian Capital Territory was the more expensive place to build, with average prices being $440,000. New South Wales ($349,000), Victoria ($327,000) and the Northern Territory ($365,000) were all fairly similar, while Tasmania was cheapest at $285,000. Western Australia is $298,000, while the average building costs are $275,000 in South Australia. 

Is It Cheaper to Buy or Build a New Home? 

It is often thought that buying a home is a more affordable option than building, but the reality is, it is not always the case! 

It is sometimes thought that established homes are more affordable than new homes. However, when you break down the costs, it’s clear that this is not true - many people are surprised at just how affordable building a brand-new home is.  Not to mention, old homes require a lot of maintenance and often have problems that you won't know about when you purchase. They may also need some renovation work, and this can become very costly very fast.

Choosing Keir Constructions

Recognised as Townsville’s most awarded builder and named Housing Industry Association’s “North Queensland’s Most Professional Builder” for five years, Keir Constructions are one of the region’s most recognised building companies. 

We source building materials locally and use more than 50 local sub-contractors, as we believe in supporting other local businesses and families.

Keir Constructions can offer you custom online home designs, new home builds, ready-built homes, and house and land packages on houses, duplexes and townhouses, so no matter what you’re looking for, we have you covered. If you want to make your dream home a reality, contact the reliable house builders at Keir Constructions today and get started building your new home.