FWIW, my six-year-old sounds just like your five-year-old. I am almost certain he is completely neurotypical, but there's something in him where he really enjoys see what happens when he pours something out or mixes two unlike things. His preferred art form is what I call "assembly art." He wants nothing more than to staple together the toilet paper roll to the bedsheet to the cabbage and then see what results.
I've given up trying to convey the financial cost of stuff, but I have found some success in "restorative justice" and "broken windows theory."
Restorative justice: If he breaks it, he helps me fix it. This has involved painting walls, push-brooming the mud back into the hole, etc. He really enjoys the activities and the together time, and he responds better to "show" than to "tell." If I tell him he's wasting our time and our money destroying stuff, it kind of just washes over him. But if I show him how much time and expense and research is involved in Fixing the Thing, he internalizes it and we usually don't have THAT problem again (although he'll certainly make new ones!).
Broken windows theory: I am nobody's idea of a good housekeeper, but I have noticed that the places in our house that are the most structured and clean stay the most structured and clean. If I let their room go an inch, they take a mile, as per that urban design theory that if unhappy citizens see a broken window, within a few weeks there will be 12 broken windows, so you have to get that repair done ASAP. Try to streamline and simplify and beautify as much as you can. It may inspire him as much as it inspires you.
Last but not least, I just wanted to extend my sympathies. There's an old book about families called Please Don't Eat the Daisies and I always think of that when encountering a new catastrophe: How much stuff do I have to explicitly tell you not to do? I couldn't even imagine advising him not to do some of this stuff because I don't see the world the way he does. I really share your frustration. I can't tell you how many times I have walked into a room and just gaped, "How?! Why? I mean, where did you even get the idea to do that?!" I think we'll all survive this phase, but it is trying.