In Western Australia, individuals were only a few years ago spending 40% more on brand-new homes, and the home building business was booming with a scarcity of tradespeople and building specialists. The economy’s turmoil and the banks’ shifting lending standards have decreased equity values across New South Homes, which has caused prospective homebuyers considering building a new home to look for cheaper property prices.
There is increased pressure on land developers to build more available lots of land in their developments as banking standards tighten and New South Homes experiences delays in land supply. In order to give greater land stock, this leads to rationalisation, when the average block size is reduced in size. The credit crunch is also having an impact on upcoming subdivisions, which will have a big impact on when they are released. The state government should handle the extraordinarily sluggish planning approval process, but it is no longer the main obstacle. Even while the resource industry isn’t packing the same punch it did in 2006–2007, our economy is nevertheless recovering.
The average 50% site cover regulation is put into effect when land release blocks get smaller and the R Codes (Residential Design Codes) aren’t changed, which means homebuyers and builders can only cover 50% of the block. A respectable size four bedroom, two bathroom home with a double garage and two living rooms can be built on a 500 square metre average property with a 250 square metre dwelling. But when the blocks get smaller—around 400 square metres and under—it becomes clear that a two-story residence should be designed and constructed. Many purchasers are no longer interested in spending $500,000 because affordability is such a big problem, or they may just be turned down for financing at that level. Consequently, they are seeking alternatives.
Specialists soon discovered that there was a large demand for more cost-effective 2 stories.
In order to fill a market gap, several builders started to offer a “budget range” of inexpensive 2 storey home designs in 2010. What is a modest two-story home worth today? A two-story home under $300,000 is advertised by certain home builders, but this is deceptive advertising. They don’t include crucial expenses like site preparation, which will push the house’s price above $300,000. The majority of low-cost 2 storey homes will wind up costing between $350,000 and $450,000 to build when your finishing expenditures are added in. Therefore, if you paid $300,000 for your land, it would cost you around $700,000 to build your new house.
A number of design considerations must be taken in order to produce a two-story home plan that is on the affordable end of the market. The total size needs to be lowered first. Do you recall when small bedrooms measured 2.7 metres wide by 3.0 metres long? Since more than ten years, they haven’t seen that in New South Homes plans, and even starter homes are frequently 3.0m x 3.0m. However, it may be time for a bedroom to once again function as one.
Conclusion: External render, which has also been quite popular, is now seen as an unnecessary extra expense that can be replaced with 2 course face brickwork, the least expensive option. A pitched roof is less expensive than a flat skillion roof, and if at all possible, box gutters and parapet walls should also be avoided.
