Budget Tool · Plico Advisory
Residential Budget
Planner
Indicative project cost estimates for residential construction in Victoria. All costs exclusive of GST unless noted.
Step 01 — Project Parameters
Total internal area including garage
Current Market Rate Reference — Victoria (Ex. GST)
Standard
$2,200–$2,800/m²
Volume builder finish. Laminate joinery, standard tiles and fittings.
Mid-Range
$3,000–$3,800/m²
Architect-led project. Stone benchtops, engineered timber floors, quality fixtures.
High-End
$4,000–$5,500/m²
Premium specification. Custom joinery, imported tiles, integrated appliances.
Luxury
$6,000–$10,000+/m²
Bespoke finishes, imported materials, complex structure, landscaping included.
Step 02 — Construction Cost
Base Construction
$0
| Item | Basis / Notes | Rate / Input | Amount (ex. GST) |
|---|---|---|---|
|
Construction CostRequired
Structural, external envelope, internal fit-out, wet areas, services rough-in. Excludes site-specific abnormals, landscaping and external works.
|
$/m² × GFA | $/m² | $800,000 |
|
Demolition / Site Clearing
Removal of existing structure, vegetation clearing, skip bins. For knockdown/rebuild or extension projects.
|
Lump sum estimate | $ | $0 |
|
External Works & LandscapingOptional
Driveway, fencing, retaining walls, planting, irrigation. Significant range depending on scope.
|
Lump sum estimate | $ | $35,000 |
|
Services & Utility Connections
Power, gas, water, sewer, NBN connection and reinstatement. Council crossing charges where applicable.
|
Lump sum estimate | $ | $18,000 |
Professional Fees — Consultants
$0
| Consultant | Basis / Notes | % of Const. / $ | Amount (ex. GST) |
|---|---|---|---|
ArchitectTypical Full architectural services from briefing through to construction administration (Stages 1–6). Includes planning documentation, working drawings, specification and site inspection. Victorian ARBV registration required. |
% of construction cost Typical: 10–15% |
% | $0 |
Interior DesignOptional Bespoke interior design including joinery documentation, finishes schedules, lighting design, and FF&E specification. May be included in architectural scope or engaged separately. |
% of construction cost Typical: 2–5% if separate |
% | $0 |
Structural EngineerTypical Structural design of footings, slabs, beams, columns, roof structure. Required for building permit. |
% of construction cost Typical: 1.5–3% |
% | $0 |
Geotechnical InvestigationSite-specific Soil report for footing design (Class M, H1/H2, E, P). Required for most new builds and extensions in reactive soil areas. |
Lump sum Typical: $1,800–$4,500 |
$ | $0 |
Energy / NatHERS ConsultantMandatory Thermal performance modelling to NatHERS 7-star minimum under NCC 2022. Required for all new Class 1 buildings and additions over 50m². |
Lump sum Typical: $900–$2,500 |
$ | $0 |
Building Surveyor (Private)Mandatory Issue of Building Permit, mandatory inspections (footings, frame, final), Certificate of Occupancy. Registered Building Surveyor under Building Act 1993 (Vic). |
% of construction cost Typical: 0.7–1.2% |
% | $0 |
Land SurveyorSite-specific Feature & level survey, re-establishment survey (title boundaries), set-out survey during construction. Required on sloped sites, narrow lots, and dual occupancies. |
Lump sum F&L: $1,200–$2,800; Full: $3,000–$6,000 |
$ | $0 |
Quantity SurveyorRecommended Independent cost planning, elemental estimate, and Bill of Quantities. Essential for complex projects, owner-builder situations, and bank finance. |
Lump sum Typical: $3,500–$12,000 |
$ | $0 |
Heritage ConsultantIf HO applies Heritage Impact Statement (HIS), Clause 43.01 assessment, consultation with Council Heritage Advisor. Yasmine Wallace, Plico Advisory (PhD). |
Lump sum HIS: $2,500–$7,500 |
$ | $0 |
Landscape ArchitectOptional Landscape design documentation, planting schedules, hardscape details, irrigation design. Valuable for corner lots, heritage properties, and planning permit applications. |
Lump sum Typical: $3,500–$10,000 |
$ | $0 |
Planning & Building Permits
$0
| Item | Basis / Notes | Input | Amount (ex. GST) |
|---|---|---|---|
Planning Permit FeeCouncil Council fee for planning permit application (where required). Calculated on construction cost under the Planning and Environment Act 1987. Indicative only — confirm current schedule. |
Statutory fee — auto-calculated | Auto | $0 |
Building Permit LevyStatutory Victorian Building Authority levy on the cost of works. Rate: 0.128% of construction value (from 1 July 2023). Mandatory for all permitted works. |
0.128% of construction cost | Auto | $0 |
Long Service Leave LevyStatutory CoInvest levy applicable to all construction works in Victoria. Typically costed at approximately 0.35% of contract value for budgeting purposes. |
~0.35% of construction cost | Auto | $0 |
Title / Conveyancing CostsIf subdividing Section 32, Contract of Sale, transfer duty, Land Victoria lodgement fees. Allow if dual occupancy, lot consolidation or covenant removal is anticipated. |
Lump sum estimate | $ | $0 |
Contingency, Finance & Other
$0
| Item | Basis / Notes | Rate / Input | Amount (ex. GST) |
|---|---|---|---|
Design Development ContingencyRecommended Allows for specification upgrades, design changes, and scope evolution during design development. Reduces once documentation is complete. |
% of construction cost | % | $0 |
Construction ContingencyRecommended Unforeseen site conditions, latent defects, builder variations, and market escalation. Allow 5–10% on renovation/extension work; 3–5% on new builds. Do not reduce below 5% on heritage properties. |
% of construction cost | % | $0 |
Finance / Construction Loan CostsIf borrowing Bank establishment fee, drawdown costs, valuation fees, interest during construction. Highly variable — confirm with your financier. |
Lump sum estimate | $ | $0 |
Temporary AccommodationIf owner-occupied Rental or storage costs during construction if you need to vacate. Renovation and knockdown projects typically require 6–18 months' alternative accommodation. |
Lump sum estimate | $ | $0 |
GST on Construction GST at 10% is payable on construction contract value. Typically included in builder's contract. |
10% of construction cost | Auto | $0 |
Total Project Budget Estimate
GFA
250 m²
New Build · Mid-range
Construction Rate
$3,200/m²
Victoria · Metro
Total (Ex. GST)
$0
Excluding GST on construction
Total (Inc. GST)
$0
Including GST on construction
Breakdown by Category
Construction (base + ext. works)$0
Professional Fees$0
Permits & Levies$0
Contingency & Other$0
GST on Construction$0
Total Project Budget$0
Important Assumptions & Limitations
- All costs are indicative estimates based on market benchmarks for Victoria (Metro) as at 2025–26. Rates vary significantly by location, site complexity, and contractor market conditions.
- Construction rates do not include site-specific abnormals such as rock excavation, contaminated soil, complex sub-structure, or extreme slope. Allow a separate provisional sum if these risks are present.
- Professional fee percentages are indicative of typical market ranges for residential projects. Actual fees are subject to negotiation and the scope of engagement.
- Planning permit requirement is site and overlay dependent. Not all projects require a planning permit — confirm with your council or architect before budgeting.
- The NatHERS 7-star minimum requirement under NCC 2022 applies to all new Class 1 buildings in Victoria from 1 October 2023.
- Heritage Overlay (Clause 43.01) properties may require a Heritage Impact Statement even for works not otherwise requiring a planning permit.
- This tool is intended for preliminary budgeting and feasibility purposes only. It does not constitute a professional cost plan. Engage a registered Quantity Surveyor for a formal estimate prior to committing to construction.
- GST is shown on construction cost only. Professional fees and permit fees are also subject to GST — confirm with each consultant.
Plico Advisory · Level 1, 195 Rouse Street, Port Melbourne VIC 3207 · ABN 64 479 965 721
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