In 2021, a four-bedroom house in Melbourne can fetch a cool $500,000. In 2018, it cost $300,00 to build a home in Melbourne. If you want to estimate the cost to build your dream home, start by estimating its size. You also need to consider the architecture and materials.
For example, a four-bedroom home made from brick veneer and modest finishes cost $2,400 per square meter. If you opt for full brick and high-end finishes, the cost bumps up to $3,900.
Homes with four bedrooms average a total of 140 to 200 square meters. If you go over 200, you’ve walked into a five-bedroom home territory.
With these figures, you have several cost combinations. If you want a high-end home on the smaller side, you’re looking at a $546,000 cost. If you’re OK with modest finishes and a larger home, expect the house to cost $580,00.
A ready to live in home that costs $500,000 in 2021 was built when costs were cheaper. So, if you build your home for $546,000, when you sell it, you’ll sell it at a higher price.
Mortgage House finances construction loans, among others, and we cover between 80 to 95% of the estimated home’s value.
Build a four-bedroom House in Melbourne Conclusion
Once you receive an estimate for the cost to build your four-bedroom house in Melbourne, Mortgage House can help you finance it. Our loan specialists look at your plans and find the best loan. We also offer helpful tools, such as our mortgage calculator.
