How much does a custom home cost? This is a question that crosses the minds of most potential homeowners looking forward to owning a customized house. Truth is, you’ll never find a simple answer, and you can bet that the best answer will always be: it depends. Exploring the world of custom home building will make you realize that there are many decisions to make, and each plays a part in determining the cost of the house. Let us now take a look at the cost variables that come into play.
Apart from the asking price of a given land parcel, custom home cost is influenced by other elements of the site. You’ll agree that every site is unique, having its own pros and cons. Here is a breakdown of items that play a major role in determining building costs:
- Vegetation, soil conditions, and geology – rock formations and expansive soils, for instance, will escalate building costs.
- Topography: A steep area will require costly and extensive fill and excavation. Though dirt might be cheap, it’s pricey to move it.
- Utilities: Upgrading or taking power, sewers, water and other necessities to your lot costs a pretty penny. It would be a good idea to confirm the availability of such amenities to avoid paying colossal amounts to access them.
- Design issues as a result of easements, zoning, lot shape, building and setback restrictions.
- Is the land sitting on an area with design guidelines? If yes, your home will be subject to the Design Committee’s review to ensure it fulfills all the minimum standards.
- Grade and length of driveway.
It goes without saying that your home’s size impacts custom home cost directly. More often than not, ballooning the project’s size increases its cost – though not necessarily escalate the square foot cost. If you are building a 5,000 square foot home, for example, at a cost of $300 per square foot, the total cost will be $1.5 million. In the event that you add an extra 200 square feet, the original total cost now goes up by $60,000.
All the same, size is not always everything. A big house constructed using the basics will cost much less when compared to a lesser custom house built to luxury. What is more, with all other factors held constant, the cost of a house having lavish finishes will be worlds apart when compared to another with basic finishes. Finishes in this case refer to visible things that offer the feel, see, and touch experience of a customized home. A perfect example is cabinetry where the basic ones can go for $20K and rise all the way to $100K should you opt for top of the range. There are numerous other things in the same category, and don’t be surprised if you lose control of the entire cost.
Numerous factors dictate custom home cost. Consulting a seasoned custom home builder will help you know how to get a home without suffering financial constraints!