We are close to settling on the land so things are starting to get real. Finance is in place and we have got a couple of quotes on the build cost and waiting for another. I also have a friend who is a Quantity Surveyor who I am liaising with on the quotes. The quotes have been done on an initial house sketch plus an architect’s brief so we can definitely expect some variance. So far the quotes have come in higher than we have hoped so we a preparing a plan B just in case.
We are fully committed to purchasing the section, the land is relatively unique and being unburdened with Covenants is a huge plus so we have decided the land is definite, the house to be determined. At the moment the plans are for a 150 SQM house including a double garage/carport which sits under the master bedroom so it is basically a split level house. A simpler and cheaper option will be to build single level so that is one of the compromises choices we have available.
A few other things of note I have found:
- There is always more on top of the price per SQM rate, probably in the vicinity of 20% which includes: council permit, survey, engineer, architect and driveway.
- Structural steel is expensive
- Having a flush fitting wall as opposed to having skirting board is apparently very costly. Every builder we have spoken to has mentioned this, so must be a bit of a pet hate.
- There are major variances in the price of cladding materials, so before you get your heart set on one, find out the prices.
- Architects have some amazing, innovative ideas, they are often expensive. For example, cladding the house in rusted steel (refer to cost of steel above).
- Speaking to a builder early on is definitely worth while, they will have opinions on materials and also whether one option will be more potentially time consuming, thus expensive.
- Do not bother looking at home and build packages as a reference point for house costs, they are for a specific design utilising economies of scale and not very relevant for anything that is done as a one off.
- I really hate GST, or specifically items being quoted excluding GST. Looking at a quote, and finally accepting that the cost might be manageable, then realizing there is another 15% to add on top is painful.
Below is a panorama of the view from the section, as a friend mentioned it captures a lot of what is great about Christchurch.
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Mike Columbus is a founder of sortmymortgage.co.nz and director of New Zealand Home Loans Christchurch Central. Mike can be contacted on 03 335 3527 or 021 369908. This advice is of a general nature only and before acting on it please read my disclaimer which can be obtained by emailing me at mike.columbus@nzhomeloans.co.nz