Rising building costs are driving saving money in the first place when building or renovating a home, but now there are new processes that can help.
CoreLogic’s latest Cordell Building Cost Index showed that the pace of cost growth picked up again in the three months to October.
The cost of building a standard 200-square-meter brick house rose 3.4% nationwide in the quarter, compared with a 2.6% increase in the previous three months. The annual growth rate increased to 9.6% from 7.7% in the previous quarter.
This has resulted in a drop in demand for newly built homes, as well as a drop in demand for merchants for home improvement projects.
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But more and more products aimed at making construction projects more accessible are entering the market.
One initiative comes from design and construction firm Box. The company recently launched Artis, an offshoot focused on small homes and a simplified and more accessible design process.
Laura McLeod, head of design at Artis, said consumer accessibility issues and skyrocketing construction costs were the driving forces behind the new business.
The company wanted to offer the housing market an option that would allow for beautiful, modern design while keeping a close eye on the budget. Smart and efficient use of space and materials was one way to achieve this, she said.
“We have taken key lessons from the Box experience and turned them into compact homes ranging from 30 to 130 square meters that can accommodate more people.
“The simplified process uses a series of ‘blocks’ that can be moved around to create a floor plan, complete with a set of indoor and outdoor fixtures and fittings.”
She says that pre-designed design elements save people a lot of hard decisions, getting them involved in interesting decisions, and saving them time and money on design and assembly costs.
Home prices range from $250,000 for a 45-square-meter studio to $600,000 for a 110-square-meter three-bedroom residence.
There may be additional costs for site work, and while building permits will be included in the contract, resource use permit costs are additional as they are site specific and often require expert input.
But by building smaller buildings and working with standard parts, Artis buildings can be built 10 to 50 percent faster than a conventional building in 9 to 12 months, McLeod said.
“The market for small builds is strong and we are interested in adding small homes for their children, from first home buyers to downsizing couples.
“New Zealand is becoming more cosmopolitan and diverse, and with that comes a natural cultural shift where people are more open to lifestyles of different styles and sizes.”
According to her, two Artis houses have been built to date, both urban development projects, and five more are under development.
Another solution is to increase the use of prefabricated house technologies and products, as the government announced new regulations in June to support its prefabricated house program. It is expected that this will help speed up and reduce the cost of construction.
Napier businessman Baden Rawl said five years ago that his frustration with the “exorbitant” cost of building a house prompted him to consider importing prefabricated houses and materials from China.
He now has permission to build a prefabricated steel frame house that meets New Zealand building codes but is imported from China. According to him, about 96 percent of the necessary materials can be imported.
“Construction costs about $850 per square meter plus VAT compared to about $3,000 plus GST for conventional construction.
“In addition to materials, the construction method saves costs, which reduces construction time. Construction takes nine or 10 weeks instead of 16 weeks.”
“The absurd costs associated with traditional building make people look for alternatives because they can’t afford them. Using high quality off-the-shelf components makes the construction process cheaper and faster in times of economic uncertainty.”
One house has already been built using Rawl’s imported materials and another is under construction, but he is currently figuring out how best to proceed with the plan.
Cost-saving considerations when it comes to home-improvement technologies are also driving the needs of renovators and new home builders, according to a new survey.
A survey of 153 people renovating or building new homes by research firm Perceptive for PDL by Schneider Electric found that 92% of respondents are willing to spend more on technology to make their homes greener if they are sustainable in the long term. Money.
Three out of ten respondents said that sustainability is one of their most important factors due to their desire to reduce long-term costs and their environmental impact.
Solar and smart home technologies, including electronic timers, smart plugs, and motion sensors to control and monitor lighting, power consumption, were the most popular features to “consider installing.”
Rob Knight, Residential Electrical Design Consultant at PDL, said improving energy efficiency was the most important reason for installing smart home technology, which was chosen by 21 percent of renovators.
Post time: Dec-01-2022