Custom Home Builders Calculating the Cost of Your House
If you are looking to build a house, it's 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, it's naive 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, it's 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.
That's because the materials are spread out to a larger area in bigger homes.
It's 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, don't be
surprised that there would be additional costs. It's 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 aren't stated specifically
in the original blueprint.
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