Did you know that the demand for luxury homes has surged significantly in the past year? As more people seek exclusivity and comfort, owning a luxury home has become a coveted aspiration. From state-of-the-art amenities to unrivalled levels of quality, luxury homes are built to ensure that your home embodies your ideal lifestyle. However, you can’t shortcut the price of luxury without bringing unwarranted risks. Custom built homes with a licensed builder will see construction costs begin from $800,000 in Australia. Read on to explore where luxury home costs comes from and why the extra investment is worth it for your family.

Custom and high-end finishes

The use of premium quality materials significantly changes the look and feel of a house – but more importantly improves the longevity of the structure. While the upfront cost may be higher, the long-term cost of maintenance, replacement, or redundancy is far lower than cheaper alternatives.

Modern eco and smart technology

Incorporating state-of-the-art smart home systems and technologies into a luxury property adds a significant financial burden but goes hand in hand with quality of life. Features such as automated lighting control, security systems, and integrated entertainment setups are widely available. The added benefit of elements like solar panels and Smart LED lights also reduce costs long term and help offset luxury home costs.

Construction quality

Complex, luxury home designs will always feature higher quality materials, processes, and finishes. A focus on intricate details and high-quality building with a meticulous approach to your lifestyle needs are key to producing the home you want. This requires skilled tradesmen who command higher fees when involved in constructing luxury homes compared to standard labourers. The assurance and warranties that come with their work provides peace of mind.

Accredited building processes

Boutique builders have adaptable and transparent processes that manage both your needs and potential risks in the building process. These processes are the best way to secure a risk-free journey for your family. The higher prices that come with custom home builders ensure stringent quality and process control in line with their industry reputation. Their commitment to industry leading standards provides security and accountability. For example, New South Homes is fully accredited by JAS-ANZ for three ISO certifications in addition to the industry regulations and licenses.

Effective budget management

When planning out your build, you will work closely with your project manager and designer every step of the way. At New South Homes, we specifically prioritise working within your budget to achieve your ideal home and will be transparent about luxury home costs and allowances up front. However, this doesn’t mean that you need to settle for less. There are some simple ways to get the most out of your budget and get your dream home.

Define and stick to upgrading your key areas

For many families, kitchens and bathrooms are the priority for material upgrades. These regularly get the most drastic usage with the most moving parts. Regardless of the luxury status of the home, this is a big contributor to maintenance and care costs long term. Designers will help you achieve function and style within the material budget you set with their invaluable industry experience.

Cost-saving on materials

Talk to your builder and determine the best value materials which can be used on a greater scale across the house. Your builder will always favour materials and fixtures which are accessible for everyone and can be used at large.

When it comes to custom building homes, these are the most important factors to consider. It is always worth checking that you are building the very best home for your family’s needs. Explore our range of completed projects to see these factors come to life.