Custom Home Building Hidden Costs
Imagine pulling up the driveway of a grand estate in a neighborhood that's earned its ranking as one of the best addresses in the city
. Now imagine that the home stands on a starkly barren lotno trees, shrubs, flowers, walkways or exterior lighting. Not so pretty, eh?
When building a custom home, the landscaping goes a long way toward achieving the overall ambiance a homeowner desires. Long, curved driveways with 40-foot tall trees arching over give a home a certain sense of heritage and lasting nobility. Scrape off the trees and other landscaping and a house is not a homeit's not even appealing.
One custom home builder uses a fixed cost system when budgeting for the development of a homehe cares the calculation through to the landscaping and other improvements like window coverings, carpet, paint and major appliances. In his experience, he says clients are happier with the budgeting process if it entails everythingevery possible detailat the front end of the process vs. as an afterthought later.
"As a rule, people don't buy a refrigerator but once every 10 years, so it's rather surprising, a lot like buying a new car, to discover that a refrigerator with ice maker can easily run $1,800. And that's a modest brand, not even a Sub Zero, which is often the preference in high end residences," he said.
The extraslandscaping, carpet, appliances and window coveringscan escalate rapidly to be more than $100,0000. And while the hard costs of building a home are factored into a mortgage, these other expenses are routinely out-of-pocket expensesanother reason for a heads up at the front end of the budgeting process.
Some of these extras are simply necessities.
When deciding the location for a custom home, people often fall in love with a particular lot because of a beautiful view. But when it comes time for some privacy, draperies, plantation shutters, wooden blinds and honeycomb shades are in order. And the cost of covering an average-sized residential window even minimally starts at about $200 per window. A custom home is more likely than not to have unusually expansive windows, an even more expensive venture for the homeowner.
One of the rages in custom home construction today is multiple laundry rooms: one close to the bedroom wing and an additional one in the kitchen area. Not only does that double the number of appliances, but the homeowner is like to want to pay more for appliances that are insulated for sound if they're being used in the room next to where someone's trying to sleep.
A refrigerator, stove and dishwasher are the minimal kitchen appliances used in homes today. Luxury homes most often incorporate ice makers, wine coolers, microwaves, trash compactors, overhead exhaust fans and multiple ovens and cooktop units. Commercial-grade appliances are all the rage and can cost 10 times as much as a residential model. Other appliances much in demand but generally hidden away from view are water softeners, freezers, humidifiers.
Appliances "make" a kitchen, he notes. "It's not just a matter of granite countertops and cherry cabinets these days. The investment in appliances is an investment in comfort and convenience."
Stone, tile, granite and hardwood floors are built into the cost of the home, but carpets and rugs are extras that can add up quickly -- $30 per yard is inexpensive carpet comparatively. And it's not unusual for a handmade rug to run into the tens of thousands.
And when it comes to the exterior of a custom home, it wouldn't be right to count on natural prairie grasses as the sole landscaping. Six foot high trees start at about $100 and most luxury homeowners don't want to wait years for the trees to look mature, so they are willing to pay thousands and thousands of dollars per tree for taller foliage.
Underneath that lush, green lawn is a sprinkler system that easily costs $10k to installa price most homeowners wouldn't forego. As one sprinkler system installer said, "Having a sprinkler system in your yard is like having a second bathroom. Until you have it, you don't know you even need it. Once you have one, you'll never be without."
Copyright (c) 2010 Gerry Stringer
by: Gerry Stringer
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