Construction and home improvement is a booming industry in Australia and New Zealand.
The industry is estimated to be worth $4.6 billion in 2016, with the average home costing around $1.2 million.
However, low cost homes aren’t as common as they once were, as home builders have seen their prices fall and their supply growth stagnate over the past decade.
So what’s the difference between a low-cost house and a high-end one?
The first difference is how they’re constructed.
A low-end house can cost as little as $250,000 and be built in a variety of styles and materials.
A high-priced home, on the other hand, is more expensive but can have more finishes and finishes can be sourced from anywhere in the world.
The second difference is the size of the house.
A mid-range home, for example, can range from 4.4-5.2 square metres, with a high end model being around 6.2-7.6 square metres.
A typical home has about 10 bedrooms, 20 bathrooms, and a kitchenette.
With these dimensions in mind, the next question is, how much do these homes cost?
The cost of a typical house can range anywhere from $400,000 to $600,000 depending on the style and the materials.
Some of the priciest high-profile houses are in Victoria, New South Wales, and Queensland, with Perth seeing the most expensive house at $1 million.
So how much would you pay for a mid-tier house?
According to a recent study by the Australian Institute of Architects, a typical home would cost $532,000 if it was constructed in a modern style.
But this is only the starting point for what a mid or high-class home could be.
With an average house size of 5,945 square metres and a typical price of $1,095,000, you’re looking at a total of $9,965,000.
And these are just the average prices.
A house could also come with extras, such as custom cabinets and a private backyard, but these would typically be around $450,000 in a mid and high-level home.
And if you’re a property investor, the home you choose will have the right mix of amenities, such a walk-in bath, pool, and gym.
How much will you pay to own a mid to high-quality home?
A mid and mid-level house can be purchased for around $4,000-5,500 per square metre, depending on what you want to achieve.
A home with a small backyard can cost around $300,000 per square meter.
And a house that comes with a large backyard will likely set you back at least $2 million in total.
But if you want the perfect home for you, you can always build a custom-built home for $600-1,000 million.
What if you can’t afford to buy a home?
If you’re an investor looking to buy your own home, there are many factors you can look at when it comes to the final price of a house.
The homebuilder might be looking to sell a home that’s worth more than $4 million for a profit, so you might have to negotiate a lower price if you don’t have that kind of money.
The buyer might also be looking at the quality of the design of the home, whether the property is built by local professionals, or is a mix of older and new buildings, which might mean you’ll have to pay more to maintain the house compared to an older house.
But with the right materials, finishes, and finishes, a home can be built for a much lower price.
The biggest factor when buying a home is the value of your investments.
A good house will have enough equity in it to be able to fund your lifestyle for years to come.
But, there’s a huge difference between owning a house and owning an investment.
A property is a financial investment, so it needs to be considered when deciding on the price of your home.
But once you’ve decided on the best house for you and your financial situation, it’s time to start putting together the details to get it done.