Many people wonder how much it costs to build a house, especially nowadays, when more and more of us are considering moving to quieter areas where we can live a quieter life and enjoy a less crowded area. You may also be considering creating a retreat or holiday property away from the big city.
Whatever your reasons, if you're thinking about creating your own project on a plot of land you own, here are some points that will help you work out how much it would cost to build a 120 m2 house, which will be more than enough space for you to live comfortably.
How much does it cost to build a house per square metre?
The first question you should ask yourself about the price of a single-family house project is how much it will cost per square metre to build. Normally we talk about a specific range per square metre, which can vary depending on many factors.
Based on this, the normal range is between €800 and €1,500 per constructed square metre, excluding the cost of the land, but including the cost of licences, professional fees, materials and taxes.
How much does a 120 m2 house project cost?
Considering the previous point, if you adjust your budget a lot and keep within an average range of €800 per square metre, your budget will be around €96,000 in total. Then, you need to add the price of the land and, if necessary, the furniture you need (you can also include some built-in plaster furniture that will allow you to save money on this item by using more affordable materials).
On the other hand, if the average price of your building work is €1,500 per square metre, your budget will reach €180,000. The difference, therefore, is substantial: you can spend twice as much (and much more) depending on the decisions you make.
The best thing to do is to ask for several estimates and for them to be detailed and, if possible, closed with specific deadlines and even penalties for non-compliance. Normally, excessively cheap proposals tend to leave out important items or do not foresee possible unforeseen events that you should take into account. A detailed list of the materials to be used will also help you keep everything under control.
How much does the structure of a 120 m2 house cost?
The cost of building the structure of a 120 m2 house depends on the materials, design and complexity of the work, among other things. Typically, a structure includes fundamental components such as:
- Foundations: The concrete base that supports the total weight of the building.
- Load-bearing pillars and walls: Essential vertical elements that distribute weight to the foundation.
- Beams and ties: Horizontal components that help distribute loads to the walls.
- Slabs: The floors of the structure that redistribute weight to the beams, walls and columns.
- Roof: The structure that covers the building.
According to habitissimo, the foundations for a 120 m2 one-storey house on a flat plot can cost around €12,000 and can reach up to €14,000 if formwork is required. The total construction of the structure, including interior walls, facades and openings for doors and windows, could reach approximately €800/m2, although this price can vary depending on the project.
"The structure of a 120 m2 house is currently around €100,000. This includes completing the structural phase, after having done the earthworks, foundations and horizontal drainage. These steps are not part of the actual structure but are required before finalising the foundations, including pillars, slabs and the roof structure. This cost is an average. On completely flat land with good load-bearing capacity, the price may be lower, while on land with significant slopes that also requires retaining walls for planning, the price could increase," explains Juan Goñi, founder of KLIC Arquitectos.
"The price of materials and housing has risen considerably. Based on our experience, we estimate that this is more or less the cost of the structure of a 120 m2 house in 2024," concludes Juan.
Factors that influence the square-metre price of a home
Different factors can influence the price per square metre of a property: take them into account when making decisions regarding your future project. These are the most important ones:
- Land condition: If the land is topographically more complicated to build on, the final price will be higher.
- Chosen team of professionals: If you choose a well-known architectural firm or a particular architect, the project is likely to cost you much more money than if you choose a lesser-known architect or firm. The same applies to the rest of the chain, although you should always keep within reasonable limits to avoid any unpleasant surprises and fraud: if something seems too cheap, it is probably a con. That is why it is better to handle closed budgets where everything is listed in detail.
- Distribution: An open-plan layout, with few partitions, walls, doors or other elements, will normally be less costly than a more complex layout, which will also require more material. Of course, it all depends on the qualities chosen.
- Materials and finishes: The selection of materials and finishes is undoubtedly one of the key points when it comes to keeping the budget for building a house under control. The bigger the house you are going to build, the more "dangerous" it will be when choosing a model of door, carpentry, flooring... at a higher cost, as this extra cost will be multiplied by the number of units or square metres needed in your property. That is why you must choose what is really important to you and avoid anything superfluous. A professional team will be able to recommend economic and quality alternatives that do not necessarily have to compromise on design.
- Furniture and decoration: As with the previous point, the choice of furniture and decorative elements can make or break the cost of your new home. Fortunately, nowadays there is a wide variety of options when it comes to decorating any space: from self-built designs made from low-cost or recycled materials to designer pieces at exorbitant prices.
How to reduce the price of your 120 m2 house project
While you may easily go over this amount (there will always be luxury options to tempt you), getting your budget per square metre below €800 may prove tricky in 2024.
One way to achieve this may be to design open-plan spaces with very few walls and partitions, do without labour as much as possible, choose simple and inexpensive materials without complex cladding and installations, etc.
The lower the location's climate and environmental requirements, the easier it will be to cut costs. Moreover, giving up anything unnecessary and having a clear wish list will help you to achieve this goal.
It is not easy to know how much it costs to build a house: what you can do is try to make decisions that allow you to adapt to your budget and stay within it.
The price of your housing project will be easier to narrow down if you make a list of your non-negotiables and anything that you can make do without. This means that the corresponding team will have an easier time distributing your budget as personally as possible, giving priority to those extras you must have and cutting back on everything that doesn't really matter to you.