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Price guide for the construction of a house
January 10, 2023The construction of a new house always brings many doubts and one of the main ones is related to the price. If you have considered building your own home, one of the first things you are probably going to ask yourself is:
How much does it cost to build a house?It is not an easy question to answer, but from Cronoshare we are going to give you some examples to know what the price of a new construction or extension of an existing house is.Calculate your budget to build your ideal home
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Index
- What does it cost to build a house?
- Budget of material execution
- What is the cost per square meter to build a house?
- Expenses and benefits of the builder
- How much does it cost to build the structure of a house?
- Technical fees
- Terrain studies
- Basic and execution project
- Construction management
- Municipal licence
- Planning licence fee
- Tax on buildings, installations and works
- Deed for new work
- First occupation licence fee
- Certificate of occupancy
- Registration of supplies
- Financial expenses
- End-of-work cleaning, house furnishing and decoration
- Budget of material execution
- Example of price to build a house or single-family home
- Prices in the construction of houses
- Manufactured Home Construction
- Modern architecture house construction
- Construction of rustic houses
- Construction of ecological houses
- House construction prices based on m2
- Steps when planning the construction of a house
- Construction feasibility
- Project
- Budget
- Construction Tracking
- Permissions and licences
- Search for professionals and companies
- How much do we save by being self-promoters compared to a real estate developer?
What does it cost to build a house?
In this guide, you will find an example of a budget for a construction and execution project. The budget for the construction of a house can be very variable, but here you can get an idea for when the time comes to talk to an architect.As a general rule, when talking about the
price to build a house , experts refer to prices per square meter built, with taxes and licenses already added to the final budget.
The final budget is divided into the following expense items, necessary for carrying out the work. We are also going to show you the
steps to build a house .
Budget of material execution
The Material Execution Budget (PEM) includes all the costs of executing each of the expense items that appear in the project measurements.This budget is
highly variable and depends on factors such as the surface of the house, the surface of public and private urbanization, the quality of materials and finishes, the complexity of the construction, the characteristics of the land and the construction company itself.
What is the cost per square meter to build a house?
The approximate value of the Material Execution Budget for a single-family home usually ranges between
€750/m2 and €900/m2 of housing built. However, it is possible to find prices from €600/m2 and up to €1,200/m2. For example, when you want higher qualities or build on terrain that is complicated from a topographical point of view, the price is usually increased. Take advantage and ask for a budget without obligation to build your house.
Expenses and benefits of the builder
It is usual to hire a construction company, since this type of company is in charge of the construction of the house.They start from the study of the plans and measurements of the project and, from there, they prepare the contract budget, which is usually 19% higher than the Material Execution Budget. The reason: includes overhead (13%) and builder’s profit (6%).In any case, a builder can take care of: foundations and structure, rooms and wall and floor coverings, lacquered doors, custom frames and cabinets, roof, chimney (optional), facade and insulation, general plumbing installation, general electrical installation, aluminum windows with RPT, power outlets in rooms, antennas and telephone, etc.
Taxes on the self-promotion of homes: The VAT applied to new self-promotion works is 10%.
How much does it cost to build the structure of a house?
One of the aspects that determines the quality of any construction is its structure. In this sense, it is not convenient to spare efforts, much less resources, when we talk about the construction of the structure of a house.Today the types of materials most used for this type of issue are:
- Concrete: It is a very resistant and effective material. It also resists fire quite well, a great advantage for the structure of a house, since it can be a way to reduce the risk of fire.
- Wood: Wooden structures also have many advantages. This material favors thermal insulation. On the other hand, they are often left uncoated, since they are aesthetically attractive.
- Steel: Structures built with this material are usually cheaper and are installed relatively quickly.
Depending on the material chosen, we have prepared a table with different prices per square meter. It should be borne in mind that these are indicative figures and that they may vary depending on each case.
PRICES OF STRUCTURES PER M2
| structure type | Price |
|---|---|
| Concrete | €125/m2 – €140/m2 |
| Wood | €185/m2 – €200/m2 |
| Steel | €90/m2 – €100/m2 |
There is also the possibility of choosing a mixed structure that combines various materials (usually steel and concrete).In any case, it must be taken into account that the structure of a house includes both the foundation, the framework of beams, the pillars, the slabs, etc. As is logical, if we take all these aspects into account, the final budget will be higher.The construction of the
structure of a house , also counting the price of the foundation, can cost
between 300 and 400 €/m2 .
technical fees
Technical expenses are usually classified into three types:
terrain studies
- Topographic study: Draw the exact geometry of the plot where the house is built. The price of a topographic study is between €250 and €400 depending on the situation and surface of the land.
- Geotechnical study: It gives us the characteristics of the terrain and serves to design an adequate foundation. Its price usually ranges between €650 and €800.
Basic and execution project
The architect’s fees for the drafting of the basic and execution project vary depending on two factors: the complexity and the surface of the house. Normally the fees are around 4% or 6% of the Material Execution Budget. Therefore, we can say that the fees of an architect for a single-family home amount to a figure between 4% and 6% of the PEM, although sometimes percentages higher than 15% can be established. However, this is only an estimate, and it should be specified that there are currently no scales that establish or can offer indicative prices for this type of service. Law
25/2009, of December 22, in its article 5, pronounces on the prohibition of recommendations on fees, among other aspects. This means that, it is very difficult to establish the cost of an architect’s fees, and that it can vary greatly from one case to another.
Construction management
It consists of three trained professionals:
- Project manager (architect)
- Execution director (rigger or technical architect)
- Health and safety coordinator (competent technician)
The architect and surveyor fees for construction management depend on the complexity and surface area of the home, and are usually around
2% or 3% of the Material Execution Budget each. The VAT applied to technical fees is 21%.
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municipal license
In general we find two types of fees that vary depending on each municipality.
Planning license fee
The purpose of this rate is to control the adequacy of the project to what is established in the municipal regulations. It can be around
1% or 2% of the Material Execution Budget.
Tax on buildings, installations and works
It is necessary to obtain permission to start the work. Around
4% of the PEM .In addition, to obtain the building permit it is usually necessary to deposit a deposit in relation to the management of construction and demolition waste.
Deed for new work
At the end of the work, the deeds must be notarized and must be registered in the Land Registry.The fees of the notary and registrar are stipulated through tariffs set by law. The sum of both is around 0.5% of the value of the property.
First occupation license fee
The town halls verify that the works have been carried out in accordance with the project that was presented in the license application. If the final cost has varied, there may be an upward or downward readjustment of this tax.
Certificate of occupancy
It is used for the Autonomous Community to verify compliance with the habitability conditions of the home.
Registration of supplies
The most common is to have about 200 euros for each supply: water, electricity, gas and telecommunications.
Financial expense
If bank financing is needed, you have to add the appraisal expenses (between €300 and €400), the notary and registration expenses (around 0.5% of the mortgage liability), the Tax on Documented Legal Acts (around 1% or 1.5% of the mortgage liability), the opening commission (around 0% or 1% of the loan amount) and bank interest that depends on the mortgage underwriting conditions.
End-of-work cleaning, house furnishing and decoration
Now that we have our new house we will have to clean it after the work. The same occurs with furniture and decoration, which can represent an average of 10% of the initial budget for the execution of the work.
Example of price to build a house or single-family home
- Type of housing: Single-family with 2 floors.
- Surface: 120 m2.
PRICE TO BUILD A HOUSE OF 120 M2 In Euro €
| Concept | Price |
|---|---|
| Material execution budget (€800/m2) | €96,000 |
| Contract budget (952 €/m2) | €114,240 |
| Subtotal | €210,240 |
| Subtotal with VAT (10%) | €231,264 |
| terrain studies | €1,100 |
| Basic and execution project, architect fees | €4,800 |
| Construction management | €1,920 |
| Technical architect fees | €1,920 |
| Subtotal | €9,740 |
| Subtotal with VAT (21%) | €11,785 |
| Planning license fee | €1,440 |
| Tax on buildings, installations and works | €3,840 |
| Registration of supplies | €500 |
| TOTAL | €225,760 |
| TOTAL WITH VAT | €248,598 |
Now you can
Request estimates from construction companies to find out what it would cost you to build the house you have dreamed of. Don’t wait for more! Keep in mind that to all these costs you still have to add the price of the plot, the Property Transfer Tax, the financial expenses of the mortgage, notaries, commercial registry and the furniture of the new house. In summary, we should add at least another 20% or 30% of the cost that we have seen in the table above. Continuing with the previous example, and to answer the question “How much does it cost to build a house?”, we can conclude that, as a guideline figure, in the case of a 120 m2 single-family home, the price for its construction would be around €178,700.
If the house has land, you may also want to build a pool. In this article, we discuss in depth how to build a pool and how much it costs. And, in relation to those owners who want to
raise or build a new plant in their house , it should be noted that this article can also serve as a reference. In fact, many of the steps required for new construction coincide with the steps for building on an existing plant.
Prices in the construction of houses
When building a house, we can choose a
multitude of designs and types of architecture .The latest fashions in house construction show a series of clear trends that we detail below, along with an
average price according to the type of architecture of the house.
Manufactured Home Construction
Prefabricated houses are an interesting option when you want to build a house and the process does not take long. The main advantage of this type of construction is that, sometimes, its price is reduced by up to 30% compared to new construction houses (not prefabricated). Prefabricated houses are made of materials as diverse as concrete, steel or wood.
Gauteng and the Western Cape this in second and third, with average costs of R13,330 and R13,150 per m2 – costing R1.
…
How much it costs to build a house in South Africa – Johannesburg vs Cape Town vs Durban.
| Province | Gauteng |
|---|---|
| Average cost per m2 | R13 330 |
| Standard 146 sqm house | R1 945 000 |
| 90 sqm house | R1 200 000 |
This price can be achieved because they are houses that are assembled in factories. In this way, it is possible to save the entire structure, but the foundation is still necessary. And for its construction the same permits and legal requirements are needed. If you are looking for a budget for the construction of a prefabricated house, at Last Builders, we put you in contact with up to 4 construction companies in your area. Wooden houses tend to have lower prices than prefabricated concrete houses. In any case, the companies in charge of its construction usually offer turnkey projects.
Do you want to request a budget to build a house?
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Modern architecture house construction
When it is decided to build the house outside the city or the urban core, there are usually fewer restrictions on the design. In these cases, you can opt for more modern styles on the facade and exteriors. The main characteristics of this type of housing are the use of spaces, the latest fashion furniture, large windows, innovative access systems, micro-cement, concrete, and neutral colours. On the other hand, it is possible to find competitive prices for houses with modern architecture, depending on the province or place of construction. As a guide, prices start
from €112,000 (VAT included) for about 85 square meters for a house with modern architecture.
Construction of rustic houses
In this type of housing, defined, more classic and “lifelong” styles prevail. They are houses that withstand the passage of time indefinitely, since their design is timeless. On the other hand, when using higher quality materials, prices usually exceed the national average price.
The chalets would be an example of this type of construction. The prices to build a chalet follow the same rules as for other types of houses, since licences are needed, an architect, etc. The average price of these rustic constructions is approximately
€150,000 for houses of 100 square meters.
Construction of ecological houses
Ecological houses use materials such as wood, marble or glass to minimize the impact on the environment. And, apart from being ecological, this type of house is energy efficient and has excellent energy consumption rates. You can read more information about this type of house in our article on ecological houses. The average price of these ecological constructions is approximately
€150,000 for houses of 80 square meters.
House construction prices based on m2
Today, building a house can cost you between €700/m2 and €1,200/m2 taking into account building permits, fees for the necessary professionals, quality of materials, etc.
PRICES OF CONSTRUCTION OF HOUSES ACCORDING TO M2
| square meter | Price |
|---|---|
| House of 50 m2 | Between €35,000 and €60,000 |
| House of 70 m2 | Between €49,000 and €84,000 |
| House of 100 m2 | Between €70,000 and €120,000 |
| House of 150 m2 | Between €105,000 and €180,000 |
Therefore, the conclusion we can draw is that a 50 m2 house can cost you between €35,000 and €60,000, while the price of a 70 m2 house costs between €49,000 and €84,000. If you want to build a bigger house, of about 100 m2, its price ranges between €70,000 and €120,000. And a 150 m2 house can cost you between €105,000 and €180,000.If you already know how big you want to make your home, the next step is
to request a budget to build a house and contact professionals who can make your idea come true.
Do you want to request a budget to build a house?
ASK FOR A FREE QUOTE
Steps when planning the construction of a house
Building a house is an expensive and complex process. That is why there are a series of steps that should not be taken lightly when you want to ensure
the best price and the best quality in the building process.You cannot assume more risks than those already anticipated. Everything has to go smoothly so that the budget does not deviate or skyrocket from the original due to errors in design, construction, etc.Nor should we leave aside the problems that may prevent the completion of the work due to bureaucratic, legal or other characteristics.
construction feasibility
Before buying the land, you must make sure that it is viable in terms of urban regulations for the construction of houses. For this, it is possible to request the advice of an architect, and it must be recorded in writing based on municipal ordinances. It is necessary to take into account the peculiarities that may be required by the adjacent communities of owners and whether the land is suitable for building. The best option is to carry out a geotechnical study of the terrain.
Another very important point is to check the availability of the supply of basic services : natural gas, electricity and water supply. Also important, but to a lesser extent, would be Internet access (ADSL or fibre) and access to housing through paved roads. In addition, you have to choose the architectural style of the house and this will influence the final price of the budget. And the choice of land is also key in relation to this, since if the land is not flat, it will have to be levelled and the price of the house will become more expensive.
projects
This is one of the initial points when starting the construction of a house, whether it is a new construction, extension or reform. Among the basic points that a
construction project can reflect, we could highlight the following:
- Location, number of floors, elevation.
- Structure type.
- House plans.
- Materials used in construction.
- Maximum budget.
Certain details must also be taken into account, such as how many people are going to inhabit the house, or the licenses and permits that need to be obtained.With the construction project, the
execution project is prepared, which must be completed before starting the works. It must contain all the details of the housing facilities, structures, foundations, etc.
Budget
Every would-be homeowner has wondered how much it costs to build a house; the house they have devised.The
budget to build a house must incorporate all the elements related to the construction, including the professional fees of the interveners, the rental of machinery, the materials, the labor, the rubble
Containers or any other aspect. You must also include the cost of licences or permits, as well as any associated taxes. Advice: Fixed prices must appear in the final budget to avoid surprises, such as an unjustified price increase in the middle of the work.
Construction Tracking
With the beginning and execution of the works you can take into account
some tips so that everything goes in order and without surprises:
- Maintain fluid communication with the architect (partial construction calls are important).
- Know at all times the progress in the form of meters built, materials used and their cost.
- Ask for delivery notes to verify prices.
- Make regular site visits to see that everything is being built according to plan.
Permissions and licenses
This point is better left in the hands of the architects and surveyors, since they know the local regulations and associated taxes in all phases of construction of the house.
How much do licences and permits cost to build a house?
It is usually around 5% of the cost of the Housing Material Execution Budget.
Search for professionals and companies
The most important professional that we must have for the construction of a home is the architect. His work is fundamental, and we must spare no effort in the search for him. We continue with another professional who would be the second in order of importance. In this case, we are talking about the builder, who is in charge of building the work from the plans.
If you have a trusted architect, they may be able to offer good advice on hiring a reputable construction company. From here, we can choose the rest of the professionals involved in the work: plumbers, carpenters, gardeners, painters, etc. We can also leave this selection in the hands of the builder, which will sometimes be an essential requirement for hiring him. And if you are considering
buying an old home to reform , you can also request an estimate and find information on
How much a comprehensive reform costs, so that you can assess other alternatives. Specifically, if you want to renovate a house, you can consult our article on how much it costs to renovate a house. Although, if the house is very old, it may be worth requesting prices to tear down the house and build a new one.
Terms to know about the construction of houses
- Technical Building Code : The Technical Building Code (CTE) is the main set of regulations that regulate the construction of buildings in national territory.
- Energy certification : Document that verifies the standard of general consumption of the house.
- Land price : Average price per square meter depending on municipalities or areas.
- Certificate of habitability : Permit that certifies that the house is habitable in accordance with current urban regulations.
- Quantity surveyor or technical architect : He deals with the drawing up of partial plans, provision of materials and economic terms in the construction of buildings. He is a certified technician.
How much do we save by being self-promoters compared to a real estate developer?
We can save and avoid real estate developer costs if we buy the plot ourselves.The 20% benefit that a real estate developer would apply to the final price of the house can be eliminated if we do this task ourselves.On average, being a self-developer saves 20% compared to the “usual” purchase through a real estate developer, so building your own home can be a good option. But it is necessary to have certain knowledge, money saved and time to do the negotiations with the different construction companies that would intervene in the work.
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