Average cost for build

Discussion in 'Development' started by CryptoClown, 13th May, 2020.

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  1. CryptoClown

    CryptoClown Well-Known Member

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    Hi I know this is a super broad question and so many variables are involved so just looking for general numbers. I've found a corner block of 900sqm. The opposite block is the exact same size and has 5 x 2,1,1 units(single storey units with carport area). Would aim to build exactly the same as the opposite complex Have quotes on the knockdown but just wanted to see if anyone had an idea what a similar unit build cost could be? It's in a large regional hub of Victoria. I'm a tightarse but I'd probably go for medium tier fixtures and fittings. Any help would be greatly appreciated.
     
  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I would use around $1200-1300 per square meter of construction, so if the units across the road are 90sqm each then they would most likely be around $115k. However that price wouldn't include infrastructure charges etc, just construction and some turnkey items (landscaping, painting, floor coverings).

    The easiest way to answer this maybe to contact council and ask for a copy of the plans for the development across the road and compare if it's the same size then ring and ask the builder who's details will be on the plans how much it cost to build.
     
    lixas4 and Tufan Chakir like this.
  3. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    PS don’t forget that if you want to do 5 that this won’t be possible under standard residential lending and would require a commercial loan which would have a lower LVR
     
    Archaon likes this.
  4. CryptoClown

    CryptoClown Well-Known Member

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    Thanks Westminister :)

    I did think of that but unfortunately they are 11 years old so costings would have changed and the construction company has either closed or renamed. Thanks so much for the numbers. I'll do some crunching tonight.

    I did think of that. Is four possible under normal lending practices?
     
  5. Lindsay_W

    Lindsay_W Well-Known Member

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    Yes this can be done under standard resi lend.