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Building : Stage 3 - Get an idea of costs

Because you arranged your finance before you started, you know exactly what you can afford, so now it's a case of looking at what you want, and deciding what you can and can't afford. This is when reality comes crashing in and you decide that you probably can live without the third bathroom or the indoor heated pool.

  • Get an idea of the value of homes in the area you have chosen to build in by looking at advertisements and talking to real estate agents or a valuer. You don't want to build the most expensive house in your street.
  • Check out the cost of the materials you like and factor in the labour costs involved in using them. It's a good idea to look at alternatives; you may find that there is an alternative that produces the same result for less cost, allowing you to put the money elsewhere.
  • Get prices for the appliances you like.
  • Talk to builders and architects to get some idea of what their costs will be. They may be able to suggest ball park figures before preliminary plans are drawn up.
  • If possible look at houses that they have built to get some idea of what you get for your money.

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