If you are planning to build a new home in Franklin this year, you likely face the “Chicken and Egg” scenario. You need a confirmed price from a builder to secure bank funding. However, the bank will not give you funding until you have a fixed-price contract. You cannot secure a fixed-price contract without detailed plans, which cost money you may not yet have.
It is a stressful position. At Rag Reno’s, we talk to families in Pukekohe, Waiuku, and Karaka every week who are paralysed by this exact problem. They worry about spending their savings on drawings only to find out the build is impossible to finance.
Here is the short answer to help you start your planning.
In 2026, the cost to build a new home in Franklin typically ranges between $3,000 and $4,500+ per square metre (including GST). This rate depends heavily on site conditions, finish levels, and the complexity of your design.
However, the house rate is only half the equation. The real budget killers in our region are site works, design fees, and council contributions that were not calculated early enough.
(Note: This article is a deep dive into costs and finance. For a complete roadmap of the entire building journey—from buying land to move-in day—please read our pillar guide: The Ultimate New Home Guide).
What is the average cost per square metre in Franklin?
“Per square metre” rates are misleading. They serve as a rough guide, but they often exclude the most expensive parts of the build, such as earthworks, driveways, and council fees.
If a builder gives you a low square metre rate over the phone without seeing your land, be careful. They are likely quoting the “house only” price, not the “finished project” price.
However, for a standard flat site in Franklin, here is a realistic guide to help you start your budget.
2026 Estimated Build Costs (House Only)
|
Build Level |
Price Range (per sqm) |
What This Typically Gets You |
|
Entry Level |
$3,000 – $3,500 |
Standard 3-bedroom layout, James Hardie cladding, acrylic showers, standard kitchen fixtures, carpet/vinyl flooring. |
|
Mid-Range |
$3,500 – $4,200 |
Custom design, cedar or brick features, tiled showers, engineered stone benchtops, ducted heating systems. |
|
High-Spec |
$4,500+ |
Architectural features, premium cladding (e.g., vertical cedar), high studs, bespoke joinery, smart home integration. |
These figures are for the house structure itself. They do not include the land, council fees, or the specific “site costs” required to get your land ready to build.
The ‘Franklin Factor’: Slope and Soil
Site conditions in Franklin—specifically slope and access—can swing a budget by 15% to 20%.
If you look at our recent projects, such as the Pukeoware project, you will see that rural sites often require specific ground works. If you build on a steep section in Onewhero or a peat soil site in Aka Aka, your foundation costs will be significantly higher than on a flat site in Pukekohe.
My advice: Always budget at least $20,000 to $40,000 for earthworks and foundations before you even look at a kitchen tap.
If you want a specific assessment of your land, our New Build Service includes initial site visits to identify these costs early.
Should I hire an architect or a builder first?
This is the most common (and expensive) mistake we see in the industry. We call it the “Design-Budget Gap.”
We frequently meet clients—let’s call one Josh—who come to us with a beautiful set of architectural plans. They have spent $30,000 on drawings and council consents. They love the design. They are emotionally invested.
Then we price it. They find that the build price is $400,000 over their lending limit.
It happens because architects design for vision, while builders price for reality. If you design your dream home in a vacuum without knowing the current 2026 material costs, you risk buying a set of plans you can never afford to build.
The Solution: Early Stage Planning
You must involve a builder during the design phase.
At Rag Reno’s, we perform a Feasibility Study on sketch plans before they are finalised. We might look at a complex roofline and say, “That looks great, but it adds $50,000 to the steel structure. If we tweak it this way, you save money without losing the look.”
Do not spend money on detailed drawings until you have a preliminary budget estimate that matches your bank pre-approval.
Is it cheaper to build new, renovate, or move a relocatable?
I am often asked whether it is better to buy a relocatable home or renovate an old villa rather than build new.
Strictly speaking, a relocatable home is typically $80,000 to $100,000 less expensive up front than a site-built new home of the same size. If you are strictly cash-flow focused and have cash on hand, that number is hard to ignore.
However, the “cheaper” option has hidden trade-offs that affect your wallet later.
1. Lending Difficulty
Banks generally require much higher deposits for relocatables—often 50% equity. This is because the house is not “fixed” to the land until the very end, which the bank sees as a risk.
For a new build, banks often lend up to 90% (requiring only a 10% deposit). If you do not have a massive cash deposit, a relocatable might be impossible to finance.
2. Asset Value
A new build on a permanent concrete foundation generally holds a higher valuation immediately upon completion compared to a transportable home on piles. This gives you more equity from day one.
3. Renovation Risks
Renovating an old Franklin villa? You might save on the shell, but you often uncover expensive issues. We have seen renovations where rewiring, repiling, and insulation upgrades cost tens of thousands more than expected. With a new build, the price is fixed.
We have handled complex relocations—like our Pukeoware project, where we moved a home back from the road and extended it. We know exactly what goes into that process. While the result was incredible, it required significant logistical planning and cash flow management.
If you want a Fixed Price Contract and the security of a 10-Year Master Build Guarantee, a new build is the safest financial path.
How do I get lending approved without a fixed-price contract?
Banks have tightened their lending criteria in 2025 and 2026. They want certainty. They do not want “estimates” that might change. They want a Fixed Price Contract.
But you cannot get a Fixed Price Contract until the design is done.
Here is the process we use to help clients bridge this gap and get approved:
- Feasibility Study: We give you a realistic “high-low” range based on your initial concept. This tells you if you are in the right ballpark.
- Preliminary Budget Estimate: Once the concept is firm, we provide a detailed estimate. This is accurate enough to take to your bank or broker for Pre-Approval.
- Detailed Design & Selections: With pre-approval secured, you can confidently spend money on final drawings and engineering.
- Fixed Price Contract: We present the final contract. The number will not surprise you because we did the work upfront. The bank signs off, and we start digging.
Understanding Progress Payments
It is important to know that you do not pay for the house all at once. You (or your bank) pay in Progress Payments.
Usually, these stages are:
- Deposit
- Floors Down
- Roof On
- Closed In (Windows/Cladding)
- Lining (Gib)
- Completion
This protects you. You only pay for the work that has been done.
What hidden costs affect Franklin builds?
If you build in Pukekohe, Waiuku, Karaka, or the rural fringes of Franklin, you must budget for items that city builders might not mention.
Water & Septic
Many lifestyle blocks in Franklin are not on town supply. You must treat your own wastewater and catch your own rain.
- Water Tanks: A concrete tank (25,000L) costs between $5,000 and $8,000 installed. Most rural homes need two.
- Septic Systems: A modern wastewater treatment system is required for most lifestyle blocks. Budget $20,000 to $25,000 for supply and installation.
Development Contributions (DCs)
The local council charges a fee for new dwellings to pay for infrastructure (roads, parks, libraries). Whether you deal with the Waikato District Council or the Auckland Council, this fee is mandatory.
In Franklin, this can range from $20,000 to $40,000+, depending on the specific zone.
Ground Conditions (Geotech)
Franklin has diverse soil. We see everything from peat to volcanic clay. You will need a Geotechnical Report.
If the soil is soft (peat), you may need a “waffle slab” or timber piles driven deep into the ground. This costs more than a standard concrete floor. A Geotech report is the only way to know for sure.
How can I protect my budget during the build?
Fear of budget blowouts is the number one reason people hesitate to build.
In the industry, blowouts usually happen for two reasons: Provisional Sums and Prime Cost (PC) Sums.
- PC Sums: These are allowances for things you haven’t chosen yet (e.g., “$10,000 for a kitchen”). If you pick a $20,000 kitchen later, your budget blows out.
- Provisional Sums: These are guesses for unknown work (e.g., earthworks).
The Rag Reno’s Approach
We minimise these tags. We force you to make hard decisions before the contract is signed. We want you to pick your tapware, your cladding, and your flooring early. This means the price we give you is the price you pay.
We also use technology to keep you in the loop. We use a Project Management App (Buildertrend) that gives you an app on your phone. You can see the daily schedule, photos of progress, and budget tracking in real-time. You see what we see.
Read more about our transparent process on our How We Work With You page.
What is the timeline for a new build in Franklin?
Building a home is a marathon, not a sprint. Managing your expectations on the timeline is just as important as managing your budget.
Here is a typical timeline for a Franklin new build:
- Planning & Feasibility (4–8 Weeks): Site visits, concept plans, and budget estimation.
- Design & Engineering (8–12 Weeks): Architectural drawings, structural engineering, and geotech reports.
- Council Consenting (4–8 Weeks): Submitting plans to the Waikato District or Auckland Council. (Note: This can vary during busy periods.
- Construction (20–26 Weeks): The physical build, from breaking ground to handing over the keys.
Total Time: Plan for a 10- to 12-month journey from your initial idea to move-in.
Why build with Rag Reno’s?
We are not a franchise. We are John and Sarah McKenzie, a local husband-and-wife team.
We built Rag Reno’s to solve the “nightmare build” stories we kept hearing. We believe building a home should be a memory you cherish, not a source of stress. We want to see you at the local supermarket and know that you still love your home.
Here is how we protect you:
- Honest Financials: We do not low-ball quotes to win the job and then hit you with variations later. We provide detailed, honest pricing upfront.
- Double Guarantee: You get the industry-leading 10-Year Master Build Guarantee (backed by the Registered Master Builders Association) PLUS our own Rag Reno’s 12-Month Maintenance Guarantee. We come back 12 months later to fix any settling issues, no questions asked.
- Local Experts: We live in Franklin. We know the council rules, the soil types, and the best local tradespeople.
We treat your budget as if it were our own.
Frequently Asked Questions (FAQs)
- Can I get a fixed price before I have full plans? No builder can give a binding fixed price without full plans and engineering. However, we provide a highly accurate Budget Estimate based on concept plans to help you secure bank pre-approval.
- Do I need a Geotech report for a new build in Pukekohe? Yes. Due to variable soil types (peat and clay) in the region, a Geotechnical report is required to engineer the foundations correctly. This ensures your home does not move over time.
- How much deposit do I need for a new build? Typically, banks require a 10% to 20% deposit for a new build land-and-house package. This is often lower than the deposit required for an existing home or a relocatable.
- Does the price include the driveway and landscaping? Standard square metre rates usually exclude driveways and landscaping. However, Rag Reno’s can include these as “site works” in your comprehensive contract so you can finance them as part of the build.
- Can I use my own plans? Absolutely. We can price your existing plans. Ideally, bring us in during the design phase so we can help your architect keep the project within your budget.
Conclusion
Building a new home in Franklin is a major financial commitment. It requires accurate numbers, not guesses.
The difference between a stressful project and a successful one often comes down to the planning you do before a shovel hits the ground. You do not need to handle the council regulations, the soil reports, or the bank requirements alone.
Sarah and I built Rag Reno’s to give families in Pukekohe and Waiuku a builder they can trust with their life savings. We believe in being upfront about costs from day one, so you never face a bill you did not expect.
Stop guessing your numbers.
Do not sign a contract you do not understand or pay for a design you cannot afford. Contact us today to book an Early Stage Planning Session. We will look at your land and your ideas, and give you an honest assessment of what is possible within your budget.