Custom Home Builders: Calculating The Cost Of Your House

If you are looking to build a house, its best if you know how to estimate the cost

so when you bring in custom home builders, you will not be cheated out of the quotation. Of course, its nave to think that your expenses will fall within the estimate as there are underlying costs. As they say, the devil is in the details. The beauty of these custom builders, however, is they work well with different price ranges from as low as $80,000 to upwards of $1 million.

Rounding up numbers

When estimating the cost of the house, its advisable to work with even numbers. Ask the general contractor to round off the size of your property and the floor area to dimensions of feet or meter. For example, if the size of the lot is 823 square meters, depending on the budget, the size of your property should not exceed 800 square meters.

The best way is to ask your future neighbours. Choose the houses that you like in terms of size, design and quality and ask the owners how much they spent per square foot for their home. In most cases, the owners will total the price of the house and the property, so make sure to make a distinction. For instance, if they spent $300,000 overall but the price of the land is $80,000, the cost of the house therefore is $220,000. Another is to average the prices of homes in your neighbourhood to get an approximate figure which you can discuss with your general contractor.

Rule of thumb

As a general rule, the cost is more expensive in a smaller house in terms of the price per square foot compared to the bigger house. Thats because the materials are spread out to a larger area in bigger homes. Its also true that you will spend more on a single-storey house compared to a double-storey one. Also the cost for plumbing and ventilation in smaller homes is much higher. You will also spend more on the kitchen and the bathroom. Custom home builders can help you drive down cost on these areas.

Marriage made in heaven

Your experience in building a house will depend on the kind of contractor you hire. It could either be a match made in heaven or hell. Even if you agree with your contractor of the ballpark figure, dont be surprised that there would be additional costs. Its important that you do your homework when choosing your home builder. If you choose wrongly, it would be a very costly mistake. You either have to drop your contractor altogether or suffer through the whole ordeal. The important thing is the contractor should ably answer your questions regarding additions that arent stated specifically in the original blueprint.

by: Antonia Clarck

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