When you plan to build your house then the first question that will come to your mind is how much will it cost? It is very difficult to tell the off-the-cuff cost of any house. However, if you ask any builder in your area, then they can give you a rough estimate of your cost of any house on a price per square footage basis.
This kind of rough estimation can be for budgetary needs however, to build a real home you will need a certain realistic price. This will be important for you as you need to collect finances from various resources that you have. You may also need to consider home loan option too.
Cedar Hills Contracting is one well-known custom home builder and by taking the help of such an experienced builder along with any custom home builder Bradford you can arrive at some realistic cost figure for your home.
Let us discuss a few important factors that can help you to arrive at almost exact cost of your home.
- Know the cost required to get the permit
Based on which region you are going to construct your home, the developmental cost may vary. It can vary between $10,000 and $30,000. As an example, on any home of 1,800 square feet, there can be a change of cost by $11.00/square foot.
- Decide your home’s style
A 2-story house building can be less expensive as compared to a story and ½ house, because of the foundation requirements. A 2- story will have a smaller foundation, so less concrete and less roof. So, to estimate your cost requirement, you need to decide what your preferred style is.
- How much a builder will charge?
Another largest determining factor is going to be whether you will hire a builder. You may also choose your own contractor. Obviously, the cost of hiring a builder can be higher though there are a few benefits too. However, if you have past experience then you can make a little saving by using your own effort.
- Cost of land
Land cost is also another big investment and that may vary from location to location. Also, what type of land you get may also give rise to several hidden costs, that will be known only when digging will be done while making the foundation of the home.
- What materials will be used?
All homes may not use the same type of materials. What kind of external finish you want to give and what are your plans for the internal structure of your home will dictate the type of materials needed to construct the building.
- What fittings and accessories are to be used
After the construction work will be completed, you are going to use many other fittings and accessories as per your need. This may vary from one house to another. All your choice will dictate the cost involved.
Generally, in a city like Toronto, the estimated cost of home is around $110 to $400/square feet while in Ottawa it is $235 to $375/square feet.