To fund a new home or extension on your home, you may find yourself applying for a construction loan with your finance lender. This is all well and good, however, you may find that the lender will not formally approve and release funds until plans, Council approval and a contract are in place outlining the progress stage payments of the build. So, to get to this point, how much should you expect to outlay? The short answer is that it varies from job to job. This really depends on the complexity of the job and what is required. The cost can be upwards of $15,000 for more complicated and detailed houses.
At Toby Drew Homes we break it down into manageable transparent costs for our clients and below is an explanation of our preliminary process to help you as a client understand what happens before we can issue contracts and start your build:
Preliminary Phase 1: Meet and Greet:
This is the start of your building journey with us. This is a free initial no-obligation consultation with Toby either at the office or via a video call. This is where we find out what is important to you and what it is you are wanting to achieve with your project. At this point, we will determine if an on-site consult is required.
Following the initial meet and greet, upon agreeing that a site consultation is required Toby Drew Homes will provide an hour consultation on-site to gain more insight into the project. This site visit will inherit a fee of $365. During this consultation, we will also provide you with further design ideas and product information in relation to the project.
Preliminary Phase 2: Entering a Preliminary Building Agreement (PBA)
This agreement will allow Toby Drew Homes to undertake work such as plans, site surveys, soil testing, engineering, building approvals, bill of quantities and any other required information that may need to be obtained. The PBA is required to be accepted before we are able to provide you with a detailed quote.
The cost of the PBA will be individual to every client, depending on what their job will entail and what information the clients already have to provide to us. An estimated cost of a new 300sq custom design build, the PBA could be around $12,000.
To find out more about our building process here at Toby Drew Homes click this link and download our Building Process Brochure.