What it could cost to build your home
Before mapping out your plans and finding the right property for sale in Randburg, it may be beneficial to your budget to understand what the average cost of building your dream home could be. In this article, we discover which province is the most expensive to build
Finding the right property for sale in Randburg can be tricky enough, but when it comes to building your own home, there is a lot more risk. For this reason, it is important that you are properly prepared so you can see the task through to completion.
There is always the option of finding a home that is already in excellent condition, or even one that is in need of a little repair, however, many people have the goal of one day living in a space that they conceptualised and constructed.
When going that route, one of the most important factors will be the cost of building, and this is calculated per square metre. With data from Stats South Africa, we were able to determine what the average cost of building your home would be in provinces around South Africa.
The province that offered the lowest average building cost was the North West, with the cost here being just over R5000 per m2. Although this still signifies that you will have to have fairly deep pockets for a decent home, it is nowhere near the cost of the leading province.
Beating the likes of Gauteng and the Western Cape is KwaZulu-Natal, which has a mammoth average building cost of R9610 per m2. This is almost R2000 more per m2 than the second-placed province, Gauteng, while the Western Cape is over R2500 cheaper per m2.
This came as quite a shock for experts in the industry too, with RE/MAX Southern Africa’s CEO, Adrian Goslett, saying, “While it is unsurprising to discover which provinces are the most affordable, it is interesting to discover that KwaZulu-Natal is more expensive than the bustling metropoles of Gauteng and the Western Cape where one has come to expect to pay a premium on most living expenses.”
There are various reasons for the differing costs of construction across the country, and one of the major factors is the availability of building materials as well as the cost of labour to build. At times, certain provinces may be low on stock while there also could be a need to import materials.
Despite the higher prices of building, Gauteng and the Western Cape both had a healthy appetite for creating new spaces. The latter topped the list with 1,413,402 m2 of approved plans, while Gauteng boasted 1,111,604 m2 of building plans.
