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7 Things To Consider When Assessing Cost To Build A Custom Home

March 25th, 2020

Many of us dream of it, but few take the time to consider all that goes into the cost to build a custom home. L. Patten & Sons is here to help! Read on to discover seven things to keep in mind when assessing the cost to build a custom home. L. Patten & Sons specializes in custom-built homes in Collingwood, Creemore, and the Blue Mountains area. Let over 50 years of experience building custom homes work to build you the home of your dreams – contact us today!

 

7 Things To Consider When Assessing Cost To Build A Custom Home

There are a number of things to consider when assessing the cost to build a custom home. Here are seven key factors we have pinpointed that you should keep in mind as you begin the process. Be sure to also read our Ultimate Checklist to Building Your Custom Home.

Square Footage

Let’s assume you’ve already purchased land on which to build. As you now look at the expected cost to build a custom home, it’s good to remember that the square footage of the building must be established in order to set initial parameters on the scope of the work to be done, as well as the depth of the overall expenditures.

Some might think the answer to the question “How much per square foot does it cost to build a custom home?” is a simple one, but it goes beyond that, as what goes into the square footage will vary from project to project.

In other words, while it’s true that the bigger the custom house the higher the cost, it’s also true that you can end up spending a lot of money on a smaller house if you go big elsewhere.

 

The size of your custom home matters, but it’s also what you plan on putting inside that counts
The size of your custom home matters, but it’s also what you plan on putting inside that counts

Site Work

The nature of the land on which you’ll be building your custom home is key. Your lot could have perfect soil that’s easy to dig out for your home’s foundation, and another lot could have 3′ of rock that needs to be blasted or chipped away.

Excavating, pouring, and backfilling make up your foundation costs, and some homes also require retaining walls and additional landscaping to eliminate potential flooding or other problems. The more work needed here, the higher the cost.

The nature of the land on which you’ll be building your custom home is key

The nature of the land on which you’ll be building your custom home is key

Design

Again, the cost to build a custom home is dependent on the dreams you have for it. You could settle for a 2,000 square foot box with a gable roof, or you could go for a 2,000 square foot architectural dream design with overhangs, large windows, a flat roof and a multi-car garage.

The number of stories, the shape of the custom home, the number of bedrooms and living spaces are all factors to consider, not to mention the cost of drafting the designs to begin with. You also need to consider the type of roof and whether you want to invest in solar panels – you can read about the pros and cons of solar panels here.

Consider the style and shape of your custom hope, and the type of roof you want

Consider the style and shape of your custom hope, and the type of roof you want

Kitchen & Bathrooms

This goes along with design, but these rooms are where the costs can really add up. Again, you could settle for an Ikea or big box kitchen with laminate tops and basic appliances, as well as 1.5 bathrooms that feature simple elements for comfortable living. Or, you might want a $100,000 kitchen and 3.5 bathrooms, all of which are maxed out with state of the art appliances and fixtures.

Finishes can greatly impact the cost of these rooms. For example, granite countertops and marble tiles are high-end options that come at a premium price, and most custom home builders will recommend materials and fixtures that will meet your aesthetic and budgetary needs.

The cost of designer kitchens and bathrooms can really add up, but may be worth it

The cost of designer kitchens and bathrooms can really add up, but may be worth it

Interior Finishes

Speaking of finishes, you must also consider whether you want cheaper vinyl flooring and carpet or reclaimed hardwood floors in your living spaces, hallways, and bedrooms. The same goes for the surface of your stairs, where you can also have wood or glass railings.

Looking elsewhere around the home, a finished basement will also elevate the cost, and even more so if you plan on adding a separate and fully functioning living space therein. Wood beams on the ceiling are also a cozy touch, and something you can consider when assessing the cost to build a custom home.

You must also consider whether you want cheaper vinyl flooring and carpet or reclaimed hardwood floors in your living spaces, hallways, and bedrooms

You must also consider whether you want cheaper vinyl flooring and carpet or reclaimed hardwood floors in your living spaces, hallways, and bedrooms

Windows & Doors

We’ve already mentioned the roof above, but don’t forget about the exterior finishing of your custom home, which includes walls, windows, and doors. The type of exterior finish – vinyl, wood, stone, brick, etc – as well as the number and quality of windows and doors that you want to install will all affect your budget.

Don’t forget about the exterior finishing of your custom home

Don’t forget about the exterior finishing of your custom home

Outdoor Spaces

Pools, outdoor kitchens, large decks, fire pits, extensive driveways, fencing and gates, play areas such as basketball and tennis courts or putting greens – these are common custom home design features that can increase the value and enjoyment of your home. They can also greatly impact its construction costs, as well as upkeep costs down the road as well.

Be sure to weigh the importance of outdoor spaces

Be sure to weigh the importance of outdoor spaces