Do take note of some unplanned costs which may not be known until you take over the land and performed the various checks and tests:
For example, i was hit by a number of additional costs and as a result cut back on my plans to add a lift
1) Soil test results were not good, even though it was in a well-known area where piling is usually not required. In my case, the soil test results were poor and piling costs of $80K added.
2) RC Trench is needed. $35K added.
3) Significant amount of asbestos detected and removal costs of $6.5K.
My land is 2100 sqf, original single storey inter-terrace built in 1960s. Planned to construct to 3 storeys with GFA 4,787.
Building costs are $1.3M (inclusive of the above additional items), and do not include architect fees of $52k, 3rd party submission fees (e.g URA, BCA) $20K. Carpentery, sanitary fittings, air conditioners will be separately charged.