A new home is a major investment, and any family considering building or buying their dream home is undoubtedly led to the question of cost. The easiest way to gather an estimate is by looking at square footage. This is also one of the most inaccurate measures. This goes to show there are many variables when it comes to a custom built home, and often, a custom home builder can’t really provide a reliable estimate until you’ve made some important decisions.
Square Footage Usually Isn’t the Answer
In the real estate world, there’s often a lot of focus on cost per square foot. While you can certainly find the average cost per square foot for a home in South Surrey, a custom home builder will generally not use this as a measure through which to create an estimate. The reason for this is that cost per square foot only considers the size of the home and not what’s inside. Do you have carpeting or hardwood floors? Are your countertops granite or solid surface? Have you included custom cabinetry? Did the builder have to dig out a basement? What condition was your lot in? All of these elements and so much more go into determining what your custom built home will cost.
Constructing the Initial Estimate
Developing an estimate often begins with determining how much you can and are willing to spend as well as the things that are most important for your family. From there, high-level decisions can be made. How much square footage is desired? How many rooms do you want? Will you opt for an established floor plan, personalize a production home floor plan or hire an architect to create a floor plan from scratch?
Refining That Estimate
When designing your custom home, almost every decision you make will open up a series of questions at the next tier. Knowing how many bathrooms you’ll have and where they’ll be located, for instance, leads you to making choices about including a bathtub, the flooring, whether or not you want a stand alone shower, fixtures and much more. As you finalize these decisions, the custom home builder will be able to provide a more reliable estimate.
Setting a Budget and Schedule
This is the point at which the plan you’ve been creating for your custom built home will crystallize. An actual budget will be set, the builder will provide a time frame and so many of your questions will be answered. This is the point at which you have an accurate estimate in hand. It’s not necessarily the final price, as change orders and other uncertainties can impact cost, but it’s a solid estimate. And any changes to the cost are, at this point, mostly within your control.
Managing Costs as the Project Unfolds
As your project starts to unfold, communication is key to keeping your final cost as close as possible to your final estimate. At Alair Homes South Surrey, our project management software helps us to stay in communication with each client and makes it easier for you to maintain a sense of control over your home building experience. Using this software is a great way to better manage costs.
When you work with us, we’ll show you how it works and guide you through the process of taking full advantage of it. In this way, we can help you build the home you want at a price you can afford, making it easier than every to own the home of your dreams.