In Mauritius, the construction sector is booming, as can be seen from numerous real estate projects. But the price of construction in Mauritius can vary from simple to double.
It is the dream of many people to become owners. Indeed, build a house can be a family project, a rental investment, a project for retirement, for heritage... In any case, it is a project that involves investing costs.
However, the general cost of building a house will depend on a number of criteria including the size of the land and therefore that of the house, the type of construction...
For example, for the use of green construction, the cost will be much higher. Then, various costs including finishes will vary; furnishings, electrical installations, light, swimming pool, tile, equipment such as water pump, air conditioner.
Therefore, it is important to prepare ahead.
Planning for building a house
The construction budget
Planning its budget or anticipation of future expenditures is essential
Building a house involves estimating the expenses that will have to be incurred to do so. Therefore, prior to any architectural design, an approximate tariff assessment of the construction project will of course be required. This will allow possible changes to the construction plans to match them with the budget.
Then a professional must be selected; An architect, a project manager...
Then, after the evaluation is completed, the chosen professional, a quote will be submitted by the requested manufacturer or the checkmaker. Similarly, an architect may provide certain information relating to certain details and other costs necessary for future construction. In fact, unforeseen expenses can occur and create disruptions in the smooth running of the project.
Attention is paid to some elements which have a significant impact on the pricing of works, such as the design, type of soil, form of housing and clearing of the land.
Financing for building
In the face of the many niches of expenditure which are necessarily linked to real estate (taxes, taxes, notarized fees, insurance costs...), the use of a bank loan can be considered. The rate of the bank loan varies depending on the banks that can be requested. Overall, Home Loan is 4.84 per cent* (subject to conditions).
To give a bank loan, banking institutions rely on different criteria such as age, occupation, capacity to repay... The Mauritian population also has the opportunity to apply for a housing loan from the Mauritius Housing Company Ltd (MHC).
Estimated cost by area
For the price house construction Mauritius, the estimate requested from the manufacturer allows precise identification of the expenses to be incurred. As a result, construction plans will be adjusted to meet the financial resources available. It is strongly recommended that information be provided on the minimum cost per square metre of new dwellings in the vicinity of the land to be built. Once the average price per square metre is known, it must be multiplied by the total area (in square metres) of the house in order to obtain an approximate estimate.
Contact local manufacturers
With a view to building a house in MauritiusIt is strongly advised to use the services of local construction companies. Indeed, collaboration with local entrepreneurs offers many significant benefits: salary scales are affordable, they have an excellent mastery of construction methods adapted to the local context, experience in implementing similar projects. In addition, they are able to provide a fairly accurate assessment of the rates applied to their services.
The need to sign a contract
It is strongly recommended that a contract be signed before any action is taken. construction of a house in Mauritius. The contract offers enormous benefits as it prevents and manages potential disputes or inconveniences that may arise in the performance of the work. In other words, with the signature of a contract, everyone will be required to perform their obligations. In addition, it is important to verify the dates and actual signatures of the parties involved.
The mention « Construction contract for a new house » should be placed on the document for greater caution. This requires a high degree of transparency, both in the statements and in the information provided. Any details relevant to the proper performance of the contract must be mentioned in the document. If a change occurs, the contract will have to be adjusted accordingly.
Build or buy a house: what is the highest price?
Building or buying a home is a personal decision. Obviously, every decision made at its positive points and its negative points.
First, building a new home is cheaper if land is already available. Next, acquiring a house already built is an interesting opportunity for people seeking housing in an emergency. In Mauritius, the purchase of a house is speedily carried out while complying with the time limits prescribed by the law governing real estate. In certain circumstances, buying a home may be cheaper for the buyer. The most important positive point in building a house is its personalisation according to its budget and desires.
However, acquiring a new property requires intense reflection. Indeed, you will have to find the right space to build your home. This, therefore, will require contact with persons with proven expertise in the building sector (architect, builder).
The previous steps will involve not only costs but also more time until the full completion of the work. In addition, the high cost of building materials varies between Rs 2.1 million and Rs 4.1 million depending on the area of the land. The construction of a house requires careful decision-making, as the construction prices of a house in Mauritius are climbing with ease. Therefore, a significant reduction in certain expenditure is necessary in order not to succumb to excessive debt.
If you want more advice and a personalized study of your project or if you are interested in building an eco-friendly house in Mauritius, Contact us.
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