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Architecture, Building & Renovations, Latest News

How much do I need to budget to build my dream home?

August 19, 2024by HOMEMAKERS Editor0 comments
Cost of a new build in South Africa

A new-build could be exactly what you are looking for.

Be the boss of your build.

Are you dreaming of a perfect home but just can’t find it, no matter how long you’ve been house hunting? Maybe building your own home is the answer. As long as you take control of the process and enter it with open eyes, there’s no reason why you can’t build your dream house from the ground up.

Much can be said about the so called “cost creep” of a new build never staying on budget, or the inherent risks of finding a contractor and trusting them with your land and your money, (and hoping they pitch up every Monday). However, for the same money (pun intended) the joys of conceptualising, planning and figuring out exactly what you and your family want and need from a space is so rewarding.

To help you go into this process with open eyes, we have done a basic cost breakdown and ball-park budget estimate of a new build three-bedroom residential house with modern amenities in South Africa.

We have made certain assumptions.

Your land is already zoned for residential use with municipal electricity as well as water and sanitation connections available.

Your build (plans as well as the actual construction site) has been approved and registered with the relevant authorities.

You have bought your own safety boots and inevitable sedatives for those all-important site visits and the inevitable moment when the contractor comes to tell you about the burst pipe, failed foundation or cracked (super expensive) imported marble countertops.

Once these costs are out of the way, the real work starts.

Like all things in live, the budget for a new build is an absolute sliding scale.

Of course, if you want to build a 10-bedroom, six car garage mansion with underfloor heating and double glazed glass throughout, using only imported fixtures and real marble tiles, you’ll have to pay the price.

If, however, you are just a normal person like us, you can (roughly) work on this budget:

According to Businesstech.co.za, referencing the trusted online construction hub of Procompare, the biggest influence on your building cost may not necessarily be within your control. It is not based on which materials you choose or which contractor you enlist.

Building cost in SA varies greatly depending on which province you are in.

Last year, Kwa-Zulu Natal was found to be the most expensive province to build in, with Gauteng and the Western Cape coming in at a close second.

In comparison, Limpopo and the Northwest were considerably cheaper places to build your dream house.

This is a handy breakdown of construction costs across all provinces but remember that these are average cost estimates and prices will inevitably vary.

Province Average cost p/m2 146 sqm house 90 sqm house
Kwa-Zulu Natal R14 860 R2 170 000 R1 340 000
Gauteng R13 330 R1 945 000 R1 200 000
Western Cape R13 150 R1 920 000 R1 180 000
Free State R11 290 R1 650 000 R1 015 000
Eastern Cape R10 890 R1 590 000 R980 000
Northern Cape R10 370 R1 515 000 R935 000
Mpumalanga R9 190 R1 350 000 R830 000
Limpopo R8 450 R1 235 000 R760 000
Northwest R7 980 R1 165 000 R720 000

(Source: Businesstech.co.za compiled with data from Procompare)

To build, or not to build?

If you love a bit of excitement and are ready for a challenge, a new-build dream house project might just be what your family needs. If, however, you are risk averse and you need to know exactly what your costs will be up front, maybe buying a completed space is more in line with your needs.

 

Whatever you choose to do, remember that being a true homemaker is about creating a safe, happy and healthy environment for you and your loved ones to thrive in!

 

Before you make any hard and fast decisions, we suggest you educate yourself on this matter. Luckily, the internet is awash with verifiable, reliable and trusted institutions who have done the research for you.

BusinessTech – How much it costs to build a house in South Africa

Axio Project – The cost of building in South Africa

Boitumelo Mokonyane Studio – The cost of building a house in South Africa

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