Quality residential buildings are not cheap investments but there are certain site elements that contribute to an increase in the project costs. It is crucial for you to understand these aspects if you are thinking about building a new home. This information is vital in creating a realistic construction budget and in making appropriate decisions with regard to the building. Here are the main cost factors you and your home builders must consider prior to the purchase of land:
The chosen building site will affect the value and likability of the residential property. The cost of the land will varies widely depending on the location of the plot. Premium sites are expensive, but they have favourable features such as easy access to the central district, security, access to amenities and high likability.
There are also additional expenses because restrictive covenants are enforced in such areas. These regulations can include specifications such as minimum area of the home, cladding requirements and even the roof pitch. It is important to research the market so that you can obtain the best value at a reasonable price. You should consider engaging an agent to help you look for building sites within your price range. Moreover, be practical in your expectations depending on the money you have set aside for the new home.
Excavation and Foundation
Every building requires a firm foundation to ensure stability and longevity. However, the process of setting up of this base can cause a significant increase in the project expenses. The home builders will excavate the ground to the calculated depth needed for proper support. If the ground is rocky or marshy, or the building requires drilling into the bedrock, the excavation crew will require more time, skill and special equipment for quality results. This will translate into an increase in the construction costs. It is advisable to engage a site analysis team prior to site purchase to ascertain that the area is suitable for a residential building. Moreover, the report will offer recommendations on building considerations and potential resolution costs.
The site topography refers to the configuration of the land and it can encompass both natural and artificial aspects. The most important factor in the topography when you are considering building a home is the slope. Sites with features such as steep slopes and other difficult to access areas will increase the costs. Special machinery will be required to handle the construction and there will be extensive design considerations. You should consider looking for a level building lot to minimise these additional expenses.