Figure Out How Much Your Custom Home Will Be

Living in a custom-built house constructed by a professional home builder is a type of luxury most people dream of. Creating a custom-built home gives buyers the freedom to choose various design options, such as wall color, floor size, landscaping, lighting and fixtures, to suit their tastes. When creating a custom-built house, the possibilities are endless, however for the same reason, quoting an expected price for this type of living space is difficult without completely planning every detail of the building and materials first.

Factors such as cost overruns, project size, and the sophistication of the designs involved, as well as market conditions will cause the figures to differ. Although coming up with an exact figure for a custom-built house is difficult, coming up with a rough estimate is possible. The following are some ways to determine the construction costs of a proposed custom-built house.

Calculate Total Floor Area – The cost of a house, regardless of whether it is custom-built or not, can be roughly calculated based on the proposed floor area. As the floor area of the structure increases, so does the volume of the construction materials needed. To get a baseline cost of a house per square foot, look for several homes that are similar in size, style and quality to the proposed plans.

Find out the overall construction cost of each house, and divide it by the total square footage. For example, if a home sells for $500,000 and it has a total floor area of 3,000 square feet, then the cost per square feet is roughly $166. Do the same computation with several other similar homes, and then determine the average price per square foot of all of the houses. Now multiply the average amount with the proposed floor area for the new custom residence plan to determine a rough estimate of the construction expenses.

Required Site Preparation – Another factor that may significantly influence the cost of construction of a custom-built home is the site preparation. If the construction site is sloped, and the proposed design is for a level surface, then the additional work that the home builder will need to do to level the surface of the site will add to the construction cost. If there is a building already in existence on the piece of land that the owner wishes to demolish before starting new construction, a demolition company will have to be hired for an expense as well.

Inflation and Market Conditions – The market condition and inflation rate could also significantly affect the construction costs, particularly for construction projects that span several years. The price for building a house can increase around 3 to 6 percent annually, so when inflation is not included in the proposed budget, the figure on the final list of expenses may be very different then what the final costs end up being.

When estimating a rough construction cost, it is also important to consider that some designs are simply more expensive than others. For example, a house using authentic slate roofing will be more expensive to build than an identical one built with asphalt shingles. Other features that could significantly affect the building expense of a home are the type of materials used in areas such as bathrooms and kitchens, the size of windows, and the roof pitch. The dominant shape of the residence can also increase construction expenses. Building designs that have more curved shapes are more difficult to construct than ones that have predominantly right angles, therefore they are more expensive to construct.

These are just some of the factors that influence the construction costs of a custom-built house. The information provided above should help a person building a home figure out just how much their custom home will cost them.