How Much Does a Custom Home Cost?
How much does a custom home cost? This is a common question asked by many individuals that are looking to build their dream home. Whether you are looking for a modern multi-storey home or a traditional rancher, it is important to have a clear idea of the cost to build an accurate budget. As leading providers of residential construction solutions, the team at Twin Maple Construction knows that no two projects are alike. That is why we have compiled a list of factors that significantly affect the price of custom homes to help you make informed decision decisions.
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4 Factors that Affect the Price of Custom Homes
Though many elements affect the price of custom homes, the following factors often have the most significant impact:
When pricing out your custom home, one of the largest initial costs will be for the land that you wish to build it on. Certain locations cost more than others based on the neighbourhood they are in and whether they are considered rural or urban. In addition to the land purchase price, some locations will require additional land prep, tree removal, septic work, and electrical connections to make the land suitable for building.
The Complexity of the Design
Design elements such as the layout of the rooms in your home, the number of bathrooms, the height of your ceilings, the number of floors, the plumbing, and the electrical wiring all impact the total price. Certain rooms are also more expensive to build than others, so this should be considered during the design process. For example, a bathroom will almost always cost more to build than a bedroom due to the plumbing requirements.
The Quality of Materials
An often-overlooked element of the custom home design process is the materials chosen for various elements and areas of the home. While it may be tempting to go with real granite countertops and real hardwood flooring, a cheaper alternative such as laminate can save you money while allowing for upgrading in the future.
The Total Size
The total square footage of a home often has the largest impact on the total cost. While larger homes will typically cost more than smaller homes, the cost per square foot will start to decrease as expensive items and rooms are spread out over more space. This reduces the amount of monetary value within each square foot of the home, but the total price will still be higher for a 3,000 sq. ft home than one that is 2,000 sq. ft.
To learn more about budgeting for a custom home or to discuss the details of your project, get in touch with the team at Twin Maple Construction. We can be reached through our online contact form and will be happy to answer any questions you may have about your custom home, renovation, or other project.