Friday, January 04 2013
Building a new home exactly the way you’ve always wanted it may not be as unattainable as it might seem. To take the first step toward making any dream home real, you have to see if it’s practical: map out how much building it today would cost.
Start by nailing down your size requirement. Think of an existing home that feels right for your needs, and ask the owner for its square footage. Decide if you prefer a single or two-story structure, remembering that the smaller roof and foundation size makes a two-story new home less expensive to build.
Add-ons will add up. Make a list of any special features you consider important. While the difference between a standard tub and a $3,500 Jacuzzi tub for the master bathroom may seem unimportant, if you’re dealing with a 2,000 sq ft house, that kind of detail can swell the bottom line significantly. If you want any special materials or architectural details, note them, too (e.g., a rectangular-shaped new home will be simplest to build; holding depth to 32 feet or less will save costly roofing extras).
Now it’s time to contact several local new home contractors to ask for ballpark estimates. They will be able to give you their recent average cost per square foot -- and with the added details you’ve now gathered, they can make more a precise breakdown.
It’s best when building surprises come as no surprise, so most people with experience know to add 10 – 20% to the initial budget. Last-minute change orders and unforeseen problems are the most common overrun culprits.
Buying a lot and building a new home in Evansville can be a satisfying project for those with the patience to see it through. And for everyone else, today’s buying conditions are close to ideal– some of today’s best properties can be purchased for even less than the cost of building would be. If you are in the market, contact me to investigate the latest deals now being offered. You can reach me on my cell phone at 812-499-9234. Comments:
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