Budgets/mortgage

trace51

Hi all,

I am completely new to house building and my head is wrecked trying to figure out how to go about it!

We have a site and an architect, and pre planning drawings for a 2,300 sqft dormer style house. Our architect has advised that we need to budget 150-200 per sq ft to build a near passive house (we won't be pursuing certification but want to meet the criteria as closely as we can). We have read so many articles recently that passive is now only marginally more expensive than standard building regulations, but yet the estimates don't seem to reflect this.

150 per sq ft would push us well over our budget. I know that it is impossible to give an accurate price per square foot, but does 150 sound about right?
Would it be an option to finish the structure of the house but leave rooms and bathrooms unfinished until we can afford them, or am I right in thinking that banks require the budget to be for completion of the house? How much detail do the bank require re. budget?

We plan to get a QS but don't want to waste money pricing a house that was unrealistic in the first place, maybe we need to reduce the size before we get it costed.

We would appreciate any thoughts on what our next step should be so that we aren't buried in debt for the rest our lives!

anoble66

Can't really answer your question on if 150-200sq/ft would get you passive standards. But I would say your quotations are reflecting reality rather than the articles your reading. It would not make sense to me that you could possibly build passive or near passive for marginally more, I would expect a lot more then for example an A3/A2 rated house.

When it comes to the bank they will require all rooms to be fully finished, meaning bathrooms, flooring / tiling, kitchen, painting etc. You might get away with the odd en-suite unfinished but that would be about it. I believe most banks send out their own assessor to look around the house to check it meets their completion standards before releasing the final stage payment so something else to think about.

They will look for a full break down of build costs from you (either contractor breakdown to builders finish or direct labour) + contingency

If it were me I would either move away from the idea of building passive or reduce the size.

good luck with it

trace51

Thanks for your reply anoble 66, it's what I expected but hoped to hear something better!

sky6

Generally speaking provided you provide the QS with the Drawings, Methods and Finishes, He should be able to price it for you within a contingency of 10 %. You'll then have a good idea of cost and affordability. You can then use the information to approach Builders for quotes to build. But you need to know what you want in the first place. Don't expect the Architect to get everything right, do your own research. After all your going to be paying for it for a long time.

kkelliher

sky6 wrote: »

Generally speaking provided you provide the QS with the Drawings, Methods and Finishes, He should be able to price it for you within a contingency of 10 %. You'll then have a good idea of cost and affordability. You can then use the information to approach Builders for quotes to build. But you need to know what you want in the first place. Don't expect the Architect to get everything right, do your own research. After all your going to be paying for it for a long time.

on the assumption to stick to this as the project progresses.

I do not believe in cost per ft2 as they are so loose a guide they can be dangerous. But the current reality would indicate that anyone currently looking to build would need to budget €150/ft2 UP for a finished product that meets regs and where work is done by professionals at a cost (ie not friends rates or free labour etc)