The Ireland House Price Calculator will help you to accurately estimate what it will cost to build a house from scratch.
To get the most accurate result, you have to answer a few questions about your project.
The questions relate to the location of the building site, the type of house that you would like to build, and other details about the construction.
Over a wide range of structure sizes, the fixed construction input costs like foundations and the roof don’t differ extensively. Larger structures require more building materials and are more expensive to build. However, when the total variable and fixed costs are added together and divided by the total square meters, larger structures tend to be more affordable per square meter.
The cost estimation that the calculator provides depends on one of three size ranges. Each one of these ranges represents an economy of scale, which is the spread out of fixed and one-off costs over more square meters.
The floor area determines the economy of scale that applies to your project.
Plan, Shape, and Layout
The calculator assumes a simple square or rectangular floor plan when determining the total build cost. Design simplicity is critical for a cost-effective building project. The most straightforward and most efficient design is a square floor plan. A rectangular plan with the same floor area is less efficient and will cost more.
Another way to minimise building costs is to refrain from using too many corners in the plan. Although 90-degree wall angles require the same amount of materials as a straight wall, it takes longer to build which, in turn, increases labour costs.
Curved walls or corners that are not at a 90-degree angle are even more expensive to build than 90-degree corners.
Number of Storeys
The fixed costs of a double or triple storey building are not much higher in comparison with a single storey. The fixed expenses consist of the groundworks, for example, the foundation, and the roof. Since double or triple storey buildings have larger floor space, they typically have higher economies of scale and a lower average build cost per square meter.
Constructing a multi-storey building will allow for a higher return on investment than a single storey building. In high-end areas, it may also be worth building a basement storey.
In calculating the cost per square meter of a basement or cellar, the calculator assumes that all ground conditions are straightforward and that there is a water table basement level.
The bulk of basement construction consists of digging out and removing the soil. Basements also need waterproofing that above ground storeys don’t need.
Basements are not necessarily more expensive to build, however. Unlike above-ground storeys, basements don’t need external wall cladding, which reduces costs significantly. In some cases, below ground storeys require few or no windows.
In some instances, the costs of constructing a basement may be less per square meter than it would be in the construction of a second storey. For example, if the ground conditions require foundations that are deeper than usual, it may make financial sense to dig deeper and excavate the soil between the foundations to make room for a basement.
If the building site is on a slope, the basement will be partly above the ground level. In this case, constructing a cellar may make more sense than filling up the slope for a level building surface.
The cost of basement construction can increase significantly if the water table and ground conditions are not favourable. If the sides of the excavation have a high sand content, for example, there is a risk that the sides may collapse. It may be necessary to create a retaining structure by piling concrete around the sides of the basement.
There are many ways to waterproof a basement. To choose the most effective waterproofing system, one has to factor in the surrounding conditions. The cost of these systems is more or less the same.
The location of your building site can have a significant influence on the build costs. If the site is far away from resources like building materials and labour, there are additional costs concerning logistics.
If the site is at one of the locations listed below, it is near building resources, and you may not have to incur costs that relate to transport:
- Dublin – €374,885 – up 6.2%
- Cork – €273,894 – up 6.9%
- Galaway – €285,277 – up 6.2%
- Limerick – €189,416 – up 6.9%
- Waterford – €172,880 – up 8.8%
*Q2 2018 according to daft.ie
These geographical locations may, however, influence your house sold prices. These are market prices of completed homes that are determined by supply and demand. Each area has its supply and demand levels, which results in different market prices.
Consider the market price of properties in your area when planning your construction project. You want your total build costs to be in line with the current market prices in your area.
Property prices in Northern Ireland increased at an annualised rate of 6.2 per cent in the second quarter of 2018, with the average price reaching £162,215 (€181,225).
South Belfast was the most expensive region, commanding an average price of £240,978, while north Belfast had the lowest average price of £116,623.
The construction costs of a garage are considerably lower per square meter than the costs of finished living areas, regardless of whether they are attached or detached.
Quality doesn’t have a significant effect on the costs of construction elements such as the superstructure and groundwork. When it comes to cladding, interior fixtures and fittings, windows, and doors, the level of quality can be significant when calculating the costs. There are, in essence, three levels of quality: standard, good, and excellent.
|Cavity walls with facing bricks, insulation, and 100mm blockwork||Cavity walls with facing bricks, insulation, and 100mm blockwork||Cavity walls with bricks, insulation, and 100mm blockwork|
|Concrete interlocking tiles||Clay machine-made tiles||Plain clay tiles|
|Standard softwood joinery||High-end softwood joinery||Hardwood joinery|
|Studwork partitions||Blockwork partition walls||Blockwork partitions|
|Contract kitchen||Contract-quality kitchen||High-end kitchen|
|Basic sanitary ware||Quality sanitary ware||Quality sanitary ware|
|Radiator central heating||Underfloor heating||Underfloor heating|
The extent to which you are involved in the building process can influence the building costs. The calculator gives you an option of four different building routes. They are as follows:
Build Route A
|Build Route B||Build Route C||
Build Route C
Construction takes place on a do-it-yourself basis. 30% of the work you do yourself.
The rest of the work is conducted by employed help. You purchase the materials directly.
Tradespeople that you hired directly complete almost all of the work with material that you buy directly from suppliers.
You have minimal physical involvement in construction activities.
The main contractor completes the construction to the watertight phase.
From there, subcontractors carry out the rest of the building activities. You purchase materials directly from suppliers.
The main contractor conducts the entire construction process, including the procurement of building materials.
This build route requires the least involvement from you.
You have to arrange for your building site to be connected to services such as water and electricity. To find out what these connections cost, contact your local utility suppliers for a quote. When you have the figures, you can enter them into the relevant fields to add them to your total construction cost.
There are some additional fees that you have to include.
- Legal fees
- Stamp duty and land tax
- Topographical site survey
- Architect or designer fees
- Structural engineer’s fees
- Planning application fees
- Self-build insurance
You could avoid many of these extra fees in a way of building eco house. In addition, an eco-house is much quicker to build, saving time and money!
Frequently Asked Questions
This tool helps you determine the total construction cost of a new house. Since renovation projects mainly deal with the renewal of features and fittings around your home, this calculator may not be able to give you an accurate estimate.
If the home you intend to build is separate and for you and your family to live in, VAT is zero-rated for the new build. The figures do, therefore, not include VAT.
The result includes the average cost per square meter of a finished home. Although this includes a kitchen, exterior improvements and features don’t form part of the result.
The gross internal floor area is the total floor area minus the space occupied by the outer walls. The area that the interior walls cover, however, are included in the measurement.
House Prices Predictions 2019-2020 (Ireland)
Unfortunately, house prices in Ireland continue to rise at the current pace and peak prices will return in the Dublin area by February 2020, and across the country by March 2021, new research shows.
John McCartney, an economist with Savills and author of the research, is forecasting annual house price growth of 8-12 per cent for 2017 but expects it to slip back to 6-8 per cent in both 2018 and 2019.
Our expectation factors in the rising base – which naturally drags on the percentage rate of growth over time in a rising market – and the expectation of a gradual catching up of supply.
Applying and extrapolating these rates would bring house prices back to peak around one year later in each location when compared with the above. So, based on these forecasts, it would be March 2021 before national prices are back to April 2007 levels.
Goodbody forecast house price inflation of 8.5% for 2018 and 6.2% for 2019, which would lead to some potential buyers being priced out of Dublin and sprawl in surrounding counties, according to analyst Colin Jackson.
The firm’s chief economist Dermot O’Leary said 765 units were completed in February 2018, a growth of 38% from the same month last year.
However, with less than 10,000 completed in the past year, there remains a significant gap between supply and estimated demand of around 35,000 units, Mr O’Leary said.
“Despite the clear momentum, the construction industry is finding it increasingly difficult to close the gap between supply and demand. With record low level of stock for sale and rent, ongoing price rises are the inevitable result”
Using Building Energy Ratings (BER) to count new homes, Mr Jackson said Goodbody forecast new supply at around 15,000 this year and 19,500 in 2019, meaning a balancing out of demand with houses built was years away, said Mr Jackson.