Building a house in Queensland

Building a house is a wonderful way to get the design of home you want in a location you love. While there are many benefits to building, the cost can weigh heavy on some home owners. To guide you along the way, we’ve got calculators, tools, and advice to make your build that little bit easier. Plus, our competitive home loan interest rates are designed to save you money so you can walk through the door of your new home sooner.

At RACQ Bank, we’re here every step of the way to help you get the most out of your dream home in Queensland.

How much does it cost to build a house?

When you’re choosing between building and buying a home, the cost involved with each option will likely play a part in your decision. The cost to build your new house will depend on a few factors. The size of the home, location, slope of the land and materials used all contribute to what you’ll pay. With all this in mind it’s impossible to have a one-size-fits-all quote. Come up with a rough guide you’re happy to pay and have this in mind when you’re chatting to potential builders.

What impacts the cost of building a house?

The baseline figure for your new home is likely to increase due to unique features in your home, your land and any extras, such as furnishings. To make budget-friendly choices it can pay to consider a few of the below money-savers:

  • Materials: Whether you use bricks or cladding, the cost to complete your home depends on the cost of the materials you’re using. Sometimes you’ll pay more for a different colour of the same material, so keep this in mind when you’re selecting supplies.
  • Contractors: Different contractors and builders will charge different rates so get a quote and compare it to others before you hire.
  • Location: If you’re building out of the city it may be a little more expensive to have builders on site, materials delivered and utilities connected.
  • Sloping block: If you have a sloping block usually the cost to build will be a bit more as you’ll need to factor in earthworks and retaining walls.
  • Inclusions: Fly screens, air conditioning, blinds etc. will all be additional extras you’ll pay which may not be included in the original package.
  • Number of stories: Double storied homes are much more expensive due to extras like stairs, the additional floor plan and protective equipment needed for the tradies.

Building a kit home

There are lots of companies around Queensland who build kit homes on your block, or offer home and land packages. The major perk of using kit homes is you’ll be quoted a pretty accurate price and you’ll be able to walk through a pre-built house replicating what you’ll end up with. These types of homes are usually built quickly and you can get additional benefits like landscaping, driveways, and upgraded appliances if you shop around. To make the most of your build check out our budget planner and take control your finances throughout the process.

Things to note

The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person’s particular investment objectives, financial situation or needs. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs. You should obtain and consider the Product Disclosure Statement or terms and conditions relating to the products mentioned, before deciding whether to acquire any products.

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.