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How Much Does It Cost to Build a Custom Home?
When it comes to custom home building, the total price of the project plays a major role in the decision-making process. To determine how much it costs to build a custom home, there are many factors to consider. Understanding these factors can help you understand where your money goes and how certain changes can affect the total price. As leading providers of quality custom homes and renovations, the team at Northwest Construction understands the many unique elements and factors that go into every custom home we build. That is why we have compiled a list of major factors that influence the price of most custom homes.
What Affects the Price of a Custom Home?
There are many factors and elements that can affect the total price of your custom home. The following factors have the most substantial impact on the cost:
For most custom homes, the total square footage has the largest impact on the total cost. As one may expect, larger homes will typically cost more than smaller homes due to requiring more materials and labour. As a home increases in size, however, 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.
Complexity of the Design
The complexity of your home’s design is another factor that can significantly affect cost. 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. A good example of complex design costs can be seen when comparing two homes with 2,500 sq ft of living space.
One home has 3 bedrooms and 3 bathrooms, while the other has 4 bedrooms and 2 bathrooms. While many may think that the home with 4 bedrooms costs more to build, the reality is that the home with 3 bedrooms will cost a significant amount more. Bathrooms are considered “expensive rooms” due to their plumbing requirements and the cost of the items within them.
Before construction begins for 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. For example, an urban lot in a popular neighbourhood will likely cost a lot more per square foot than a rural lot in a small town. In addition to the land purchase price, some locations will require more bulldozing, tree removal, and electrical connection work to make the land suitable for building.
To learn more about our custom homes and pricing, get in touch with the team at Northwest Construction. Our experts can be reached by phone at 778-769-0108 and will be happy to make your dream home a reality.