What Is the Average Custom Home Building Cost in Your Area?
- Written by NewsCo
Owning your own home is a dream for many of us. If you're going to make your dream come true, don't you want it to be as close to your imagination as possible?
Building your own home is one way to make this dream come true.
After some unsteady years, homeowners are returning to building a custom home. The numbers are slowly returning to what they were before the 2008 housing crash.
If you're looking to build your dream home, here are some things to calculate custom home building cost.
Calculating Custom Home Building Cost
The first step in figuring out custom home building costs is to look into your particular area. You'll need to do some research into the market where you're looking to build, as it can vary wildly from region to region.
Create Your Design
Figuring out a custom home building cost requires knowing what that home's going to be. A two-story house with four master baths is going to cost a fair deal more than a modest bungalow built on a slab.
Even without a blueprint, you can still estimate a rough guess how much a custom house could cost. Generally speaking, a modest Economy House costs between $85,000 and $425,000.
Standard homes cost between $140,000 and $710,000. A custom Luxury Home could range from $360,000 to $2,000,000.
As you can see by those numbers, there's a bewildering range in these categories. Let this serve as an example and a reminder of why you do need to come up with a blueprint if you're serious about building a custom home. Or even getting an accurate estimate.
Consider Your Options
Once you've got a rough idea of what kind of custom home you'd like to build, you can start to figure out details that will influence the bottom line.
There are ways you can help bring the cost of building a house down, for instance. Pre-fabricated homes tend to be far cheaper than building from scratch, for example. There are numerous types of pre-fabricated homes on the market, currently.
Panelized homes are quite elegant, for one. They're also remarkably rugged and robust. They only take a fraction of the time to build as a traditional home, as well. This will bring down labor costs significantly.
Saving money on details means you'll have more to focus on features you'd like to have like solar installation.
Find a Property
Once you've got all the details figured out, the last thing you'll need is to find a piece of property to construct your custom home. This is the part that varies most wildly from region to region. Finding a valid lot to build on looks a lot different in Malibu than it does in Tulsa, Oklahoma.
Once you've got a blueprint and a plot of land, you're ready to put together a construction team and break ground on your dream house!
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