Sloping blocks can present unique challenges when it comes to building, but with careful planning, they can also be a great opportunity to create a stunning home. If you’re considering working with sloping block builders in Melbourne, here’s everything you need to know about budgeting for your build.

How much will it cost?

The first question on everyone’s mind when embarking on a building project is, of course, how much will it cost? Unfortunately, the answer is not as simple as you might hope. Sloping block builds can range in price from $1500 to $2000 per square metre (or more) depending on the size and scope of the project.

One of the biggest factors affecting the cost of a sloping block build is the amount of excavation required. The steeper the slope, the more excavation will be required – and excavation is one of the most expensive aspects of any building project. Additionally, if your block is located in a high-risk area for landslides (which can be a potential risk factor in Melbourne), this will also add to the cost of your build.

What about council approval?

In addition to being aware of the potential cost implications of building on a sloping block, it’s also important to be aware of the potential for delays when it comes to council approval. It can often take longer to receive council approval for a sloping block build than it would for a traditional home build, so be sure to factor this into your budget and timeline.

How should I prepare my finances?

Once you’ve done your research and have an accurate idea of how much your sloping block build is likely to cost, it’s time to start preparing your finances. One of the best ways to do this is by speaking to a mortgage broker who can help you find the best loan products for your needs and provide guidance on how much you could potentially borrow. 

You may also want to consider seeking pre-approval from your bank before commencing any work on your property – pre-approval gives you certainty around how much money you’ll have available to complete your project, which can make budgeting much easier. 

What other expenses should I consider?

In addition to the cost of actually building your home, there are a few other expense items you’ll need to factor into your budget when building on a sloping block in Melbourne. These include: 

  • Surveyor Fees: A registered surveyor will need to inspect your property prior to commencements to determine its contours and boundaries. Fees start at around $500 but could be more if your property is large or complex. 
  • Soil Testing: Sloping blocks often have different soil types which can affect both the stability of your foundation and the type of foundation that will be required. Soil testing typically costs between $500 and $1000 depending on the size and complexity of your property. 

Fail to plan, plan to fail

Building on a sloping block in Melbourne can be a great opportunity to create a stunning home, but it’s important to be aware of the potential challenges and costs involved before you commence any work. By doing your research and preparing your finances carefully, you can ensure that your sloping block build stays within budget and runs smoothly from start to finish.