Building a house costs a lot of money, which is why people save up for it for years and plan carefully to ensure that their finances can bring their vision to life. However, even the most prepared individuals can be caught off guard by unexpected expenses. While most people are aware of the “main” costs of building a house like materials and labour, there are many other expenses that are unfamiliar to many. These hidden costs can add up quickly and put a strain on their budget.

In this article, we will uncover the expenses that many people overlook when building a house. This way, when you build a house in the near future, you’ll know what to expect and take everything into account when creating a budget for your new build.

With all that being said, here are the common “hidden” costs of building a new house that you should prepare for:

Builder Fees

While labour fees primarily cover the cost of the physical work performed by tradespeople (i.e., carpenters, plumbers, and electricians), builder fees encompass a broader range of services. This cost is associated with hiring a professional builder to oversee the construction project, as well as project management fees, charges for design alterations, and administrative tasks such as paperwork and documentation.

Builders typically charge for their services in one of two ways: either a fixed fee or a percentage of the total construction cost. With the former arrangement, the builder charges a predetermined amount for their services, regardless of the final cost of the construction project. This fee may be negotiated upfront and is usually based on factors such as the size and complexity of the project, the builder’s experience and reputation, and the scope of services provided.

Meanwhile, in the latter arrangement, the fee is calculated as a percentage of the overall cost of materials, labour, and other expenses incurred during the construction process. The percentage may vary depending on factors such as the builder’s experience and qualifications, the level of customisation and detail involved in the project, and prevailing market conditions.

When you’re looking for a construction company that can make your dream home into a reality, make sure that you hire new home builders Dunedin residents trust. A reputable construction company like SB2 Build will ensure that all expenses for your build—including builder fees—will be discussed and explained to you thoroughly so that you won’t forget about them. Working with a trusted name in the business also gives you peace of mind because you know that your project is in good hands, whether it’s a simple bungalow or a multi-levelled dwelling with grand designs.

Temporary Site Requirements

Temporary site requirements like portable toilets, temporary fencing, and on-site storage are often overlooked when budgeting for a new home construction project. These temporary facilities and structures ensure the safety and convenience of workers and subcontractors, as well as provide essential amenities for the duration of the build. Sadly, many would-be homeowners focus solely on the house itself and inadvertently forget the importance of these temporary provisions.

Although the cost of temporary site requirements may seem insignificant compared to the overall cost of construction, they can add up quickly and strain your budget if not accounted for. Moreover, failure to include these expenses can result in delays, inefficiencies, and potential safety hazards on the construction site. By remembering to budget for temporary site requirements, you can ensure a smooth and efficient building process while maintaining a safe and comfortable working environment.

Driveways

Driveways are essential for property access, but they’re typically constructed after the house is built—which means they’re easily forgotten. As such, some homeowners may be surprised when they see the cost of their driveway included in the bill.

A new driveway can be costly, especially if it requires extensive excavation, grading, and paving. Its length, width, and material can also significantly impact its overall cost. Simply put, make sure to factor in the cost of your driveway when budgeting for a new home construction project.

Landscaping

Landscaping is often an afterthought for many homeowners who prioritise the construction of the house itself over the outdoor space. However, landscaping plays a vital role in enhancing the curb appeal, functionality, and enjoyment of the property.

In most cases, landscaping typically includes planting trees and shrubs, laying sod, and installing irrigation systems. With so much work that needs to be done, landscaping expenses can quickly add up if you aren’t careful with the project planning. By including landscaping in the initial budget, you can allocate funds to create an outdoor space that complements your dream home and reflects your personal style.

Wheelie Bin Fees

As a responsible homeowner, you should factor in wheelie bin fees in your construction budget. These fees refer to the charges associated with waste management services, including the rental of bins for waste collection. Wheelie bin fees vary depending on factors such as location, service provider, and the size of the bins required.

To ensure efficient waste management and minimise costs, it’s crucial to find the right waste management company for your needs. Consider factors like cost-effective pricing, services offered, and reliability and reputation during your search to ensure that the waste created during your new home build is disposed of effectively and properly. Also, remember that waste management is crucial both during and after construction.

Building your own house is a monumental undertaking that requires careful planning and consideration of various expenses. While preparing for the major costs of the project is crucial, you shouldn’t overlook these hidden costs. This way, you can manage your finances better and reduce the risk of straining your budget during the build.

SB2 Build is your trusted and certified company for home building in Dunedin, New Zealand. Our company is dedicated to ensuring that your new home-building project is a hassle-free and enjoyable experience. Visit our Contact Us page and fill out the form and we’ll be ready to assist you.