Hi All, Thinking of building 6 x Single storey townhouses (5Kms) from Perth CBD (covered area 150-160sq.m). What will be the approx. build cost? (Medium finishes - Planning to rent them all out).
It totally depends on what you mean by build costs. I would guestimate $1.25-1.35 fully turnkey but not included demolition, excessive site costs/retaining, public open space levies etc. Construction prices are literally going up daily so my guestimate could be on the low side - and of course very builder dependant. If you're 5km from city what might be a medium finish might be subjective and higher than what is a medium finish in another area or States. BTW in Perth single storey are called villas, double storey are called townhouses.
You need to be more specific. Are you talking flat block, good access and minimal siteworks? A turnkey price including landscaping, blinds, aircon etc? What's the price point? Medium spec means different things in different areas. As someone who has developed to rent out before, I'd also strongly recommend that you spend the extra money in certain areas to ensure the places are still looking good and functioning well after a few years of being tenanted. Floor coverings, selection of appliances typed of window treatments, designing more than just a minimum wardrobe fitout etc. These things also help you keep longer term tenants as how a property functions will often determine the length of tenancies and a group of long term, brand new rentals will benefit from having less turnover of tenants.
