It sounds crazy, but one of the smartest financial moves you could make this year especially for home building… is simply deciding not to wait.
Every week, families tell us they’re “thinking about it,” “waiting to see what happens,” or “maybe next year.” And while they’re weighing up the pros and cons… the price of their dream home quietly climbs higher.
In fact, according to the Australian Bureau of Statistics, building costs have jumped over 31% in the last five years. That means a home that cost $270,000.00 in 2020 could now cost $354,000.00+ for the same design, on the same block.
No extra upgrades or fancy finishes. Just… more expensive everything.
And the worst part? Most of those homeowners could have locked in lower pricing – but didn’t.
Instead, they’re paying an extra $100K today… for something they could have started a year or two ago.
So what’s behind these rising costs?
There are four major culprits driving prices up, and none of them are slowing down any time soon.
Culprit #1: Materials Are More Expensive Than Ever
Let’s start with the obvious: core materials like timber, steel, and concrete have jumped 20–30% since 2020.
The spike began when COVID hit global supply chains, and while demand has eased a bit, prices haven’t dropped back. And they likely won’t, because:
- Suppliers are also paying more for energy, freight, labour, and insurance
- That cost is passed straight down the line to home building (and to you)
- Even “standard” homes are now tens of thousands more than they were five years ago
So if you’re building the same home today as you planned in 2020, it’s going to cost more; even if nothing’s changed on paper.
Culprit #2: Energy Costs Are Impacting Everything
Even if you don’t see it itemised on your quote, energy costs are baked into nearly every line item of your build.
That includes:
- Manufacturing of bricks, windows, cement, steel
- Transporting materials to your site
- On-site machinery like cranes and earthmovers
When energy and fuel prices go up (and they have), every step of your build becomes more expensive. You’re not just paying for the materials – you’re paying for the power it took to make, move, and install them.
Culprit #3: Trades Are in Short Supply
The home building industry has been hit hard by a shortage of skilled trades. Older tradies have retired, fewer apprentices came through, just as demand for new homes surged.
That shortage means good trades are booked out months in advance and charging more for their time, and fair enough. They’re working hard and in high demand.
But for homeowners, it means labour costs have gone up; and because building a home takes a full crew of professionals, those extra costs add up fast.
Culprit #4: Compliance Has Become More Complex (and Costly)
Regulations have tightened in a big way over the last few years, and every new home now faces a longer, more expensive approval process.
Things like geotech reports, energy assessments and accessibility standards are now mandatory, and none of them come cheap.
They’re good changes in many ways, but they add cost, paperwork, and time. And even if your design stays the same, you’ll still be paying more to meet today’s rules.
Why Waiting Doesn’t Actually Buy You Time
Many people delay their build thinking it will give them more breathing room, but ironically, waiting often creates more pressure, not less.
Here’s why:
- Approvals take time (often 6 to 12 months)
Even if you say “yes” today, you won’t start home building tomorrow. For custom homes, the design, approvals, and council or private certification can take months. That means prices keep rising in the background while you’re waiting to get started. - You don’t lock in a fixed price until the contract is signed
And that can only happen after the design and selections are finalised. So even if you’re planning ahead, unless you take that first step, your quote will continue to reflect new costs. - Delays compound
The longer you wait to begin approvals, the further back you push your start date, and the more risk you carry in terms of cost hikes and timeline blowouts.
In other words, waiting doesn’t pause the process; it just puts you further behind when you do decide to move forward.
My advice? Even if you’re only 80% sure – start the process. You can always pause later. But if you delay getting started, you’ll feel it down the line, in both time and money.
Bottom Line: The Best Way To Save $100,000.00… Is Simply Not To Lose It In The First Place
If you’ve read this far, chances are building is on your radar. Maybe not next month, but soon.
The good news is, you don’t need to rush into a full build to take control of your budget.
What you can do, and what we recommend, is simply take the first step. Start the conversation, begin the approvals, and get your design in motion.
That way, you:
- Lock in your base pricing before the next price rise
- Give yourself breathing room to make decisions
- Get clarity on costs, timeframes, and site requirements
- Keep your approval valid for up to 5 years
Even if you hit pause later, you’ve protected yourself from the biggest cost blowouts, and made a smart move your future self will thank you for.
Of course, saving thousands on your build comes down to more than just timing. There’s a lot to consider; and if you’re anything like most families we speak to, you don’t want surprises halfway through the process.
That’s why I’ve put together this free guide:
Build with Confidence: 7 Things You Must Know Before Designing a New Home
It’s filled with practical insights to help you avoid the traps that sink most builds, and practical tips to ensure you build with confidence.
Click here to download your free copy now
Read more about the close knit family behind your stunning Edwards Family Home, a proud partner of APB, and HIA.
