Rough Costs for 3 Townhouse Development

Guys, I know the answer is "how long is a piece of string" but I'm trying to do a quick budget in my head for my future development which will be a new 3 x 3bed double story townhouse development with double garage in Ardeer, Melbourne.

Basically I know it all comes down to quality etc but on a "very" rough note, if I set aside $500k for the Development do you think I am thereabouts??? Note that I have a few tradies in my family that can help out and will save me money like Plumbers, Tilers, Concreters etc.

TIA
 
I would be allowing at least 200 - 250k ea in my area. I think your figures are way too low. How many sqm in each unit? 200 odd? Remember to allow for council fees and contributions, engineers, surveyors, strata set up, etc, etc. The list goes on. :D
 
Wow that high, I would of thought around $500k would of covered it here in Melb with myself organising some of the trades through my family and friends etc?
 
Rockie,

Ardeer is not moments from world class beaches and within a sub-tropical paradise :D

500 K probably is a bit low, however allow 150,000 per door in that area and I am assuming a lowish level of finish.........making 450 K and Littletee you need to find out council contributions from (??) Brimbank and allow for services/utilities, landscaping, drives ,etc.

Of course all this will be dependant upon the slope or otherwise of the land and any hydraulic issues you will have. Allow a 5-10 % contingency for construct blow-outs and ensure you don't have variations.

Somewhere above 500 K and perhaps under 600 K would be a good (rough and approximate) figure to aim at. Of course you would allow for your interest bill. ;)
 
lol definately not near a beach or paradise :)

Thanks for that Player, yeah that's what I would of thought.

My allotmant is very flat so I don't think it'll be much of an issue there but I understand other little things do creep up on you.

As I will try and save as much money as possible utilizing my contacts etc, I've been told to allow roughly $150k per door and always add another $50-$100k on top for contigencies etc which is fine.

Of course I know it depends on how the townhouses are designed, the size of them etc but just wanted to know to see how economically viable my idea is etc.

I welcome any other thoughts/suggestions etc.
 
One of my mates at work is currently building a 3 bedroom home for ~100K

He's using this kind of cladding (but not the same company) http://www.masterwall.com.au/

And has basically sent the plans off to a factory that builds all the frames for you and sends them out to the site where the house is assembled in a day or two (not sure if this is common, but it sounded pretty cool to me ;)).
 
500 K probably is a bit low, however allow 150,000 per door in that area and I am assuming a lowish level of finish.........making 450 K and Littletee you need to find out council contributions from (??) Brimbank and allow for services/utilities, landscaping, drives ,etc.

Well we struggle to pay any less than 1k/sqm these days my friend so I guess a 150sqm unit could be 150k. But it would be a very small 3bed, 2bath, 2l/u.gar at 150sqm. That's why I thought 200k ea + strata title costs, council contributions (65k in our shire for extra 2 x 3 bedders on block), landscaping, site costs, consultants, etc.

Surely one of the SS Melbournians would have a clearer idea with some recent experience in the matter? :)
 
hmmm...

Hi,

With no development experience, I thought I throw in another question.

How large is the land size required for a 3 BR, 2 Bath and 1 garage? Say, is a 560sqm lot about to have 2 townhouses on it?

Regards

Daniel Lee
 
Daniel, depends on the council zone and what their Development Plan allows. It can vary quite a bit between different areas. Have a look at the Development Plan for the council zone you are looking at and go from there.

If you're lazy, just post the suburb on here and I guess someone will do your footwork for you.

Gools
 
Daniel,

as Gools has mentioned it depends on the council. You may be hard pressed to get two 3 bedroom town houses on a block under 600 sq m in Vic. Again, depends on how pro-development the council/municipality is and if it is in an area where they want to see denser living. i.e: on a main(ish) road adjacent to a train/transport/shopping hub.

Also if it's 3 BR you're after, allow two off street parks (one can be in a garage and another in tandem in the dirve way). You need to be mindful of the set-backs they require.

Ask your local council town planner (where your property is situated) these questions and other queries. I have found they are more than happy to answer questions.
 
One of my mates at work is currently building a 3 bedroom home for ~100K

He's using this kind of cladding (but not the same company) http://www.masterwall.com.au/

And has basically sent the plans off to a factory that builds all the frames for you and sends them out to the site where the house is assembled in a day or two (not sure if this is common, but it sounded pretty cool to me ;)).

wow, masterwall looks the bomb. Modern and CHEAP!!!

looking at 3*3 bed, two storey townhouses on a 1100spm block for myself in next 18 months actually... Seem to be some good 2 story designs that are modern, and would be very cheap to build (comparatively)...Have just done google search so far...

as mentioned, it does change depending on council, but Residential 2a zoning in our council (NSW) recommends between 300-500sqm per townhouse.

would the $$$ per sqm come down, with the economys of scale gained from the development of 3 townhouses at once??? If so, what % u reckon?

Also what extra % cost is dependant on the slope of land???
 
Hi Jacbmw,

Wouldn't mind checking some 3x3 bed townhouse designs out on the web, got any websites or what do you search?

Cheers everyone
 
That's an easy question, about $1.2M!

I've just tendered my 3 townhouse development and that's what I'm now contracting at to get it built. Well, rough figures anyway...

A good allowance is $2500-$3000/m2 above ground, for a good level of finish and $1000/m2 below ground.

Mine is 360m2 (120m2 each) with a basement about 300m2, so a rough estimate has it at:

Basement: $300K
Above: $900K (at $2500/m2)
Total: $1.2M

But that includes 6 bathrooms, 3 kitchens all in ceaser stone, granite. A lift ($80K), turntable ($30K), landscaping ($40K) etc. You get the picture...

The allowances above are a good rule of thumb. No excavation and lift will save you some serious money. And if you put garaging above ground then its cheaper per m2 than internal fitout so apply a lower rate to that open space.

Cheers,
Michael
 
WOW Michael that's full on, definately wouldn't be able to do that in Ardeer, would send me broke in no time lol :)

Thanks for your input, very interesting indeed and one for the future I think
 
our rate is $2000 m2 at the moment ??? so you would read the size usually written by the architect and do the numbers .
 
Don't know how they can call them double bedrooms. Imagine how small their single bedrooms are. :eek:

Well I will go out on a limb and guess at least 150k + site costs.
 
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