A basement garage can add a significant cost to a new house, but will also add a proportional amount to the end value of the property.
A basement for 2 or 3 cars can add between $100K and $200K to a new house budget and the cost is determined by the following factors:
- The size and depth of the basement
- The soil type and conditions on the site
- How close to the boundaries of the property the basement retaining walls are
- If there is a requirement for natural light and ventilation in the basement
- If there is a lift and or turntable
- The level of internal fit out and additional rooms such as a gym, cellar, home theatre and bathroom?
- The type of drainage and backup systems.
Basement garages and additional amenities generally make economical sense if the per square meter land purchase price is higher than the basement construction cost and if the additional costs are affordable for the client. Therefore, basements are becoming more and more common in many of the more expensive suburbs across Melbourne and Sydney and will soon become a “must have” requirement of a new lifestyle home.
