Wondering what the cost of a custom-built home is? It truly depends on what each homeowner wants since a custom design usually means a custom price. Many factors contribute to the total price, including location, size, and finishes, among others. The key is to ask a lot of questions about the process and what costs to anticipate so you know what to expect going in.
Building vs Buying
There are different costs associated with building a custom home vs. buying an existing home. Before any building begins, you need a homesite to build on. Some clients buy their land independently but others prefer to work with their builder to secure one and wrap the cost into the full building budget.
Creating a home from scratch also requires detailed plans and sharp design sense. Usually, there’s a fee for the design itself, so ask up front and know what kind of time you’ll need to invest to meet with the builder’s design expert before construction even begins.
Another building consideration you don’t want to forget to factor in is the pre-construction costs. These can vary based on the size of the lot purchased as well as the condition that lot is in. Other variables include permits, surveying, demolition, and more. Homeowners might not realize the costs involved to prep the land for building, but there’s very important utility work that might need completed if the lot isn’t already equipped with sewers, water, and cable lines – just to name a few.
When you build with Weaver, we’ll establish a cost and budget in early meetings where we discuss exactly what you want to do. After we determine a realistic budget, we create a design agreement with the client to design a house within that budget.
Factors of Cost
Square Footage
Square footage is one way to calculate the cost of both pre-owned and custom-built homes. Whether it means extra bedrooms, bonus rooms, or finished basements, more space almost always means more money. The age of a pre-owned home could drive the cost down, but buyers must be willing to work with the space they get. On the other hand, those who invest in a custom build decide exactly where and how to use every inch of the design. Take into consideration the cost of materials at the time of building as these could inflate prices, too.
Cost of Finishes
Every builder has a recommended set of finishes they start with, but homeowners often choose to upgrade from there, depending on their design priorities. The cost of these upgrades varies greatly for each customer, but the important takeaway is that there are lots of options. Perhaps you want to add stone accents to the facade for extra curb appeal. We’ll simply upgrade that from a full siding design.
Whether you decide on standard or premium specs, all the finishes will be brand new, including the mechanical systems. When you buy a pre-owned home, you might not get much life out of the furnace or AC unit, for example. But Weaver offers a one-year full warranty on every custom build. Various products used throughout the home may come with a manufacturer warranty, too. These kinds of warranties – and the sheer fact that you just won’t have to worry about costly, unexpected repairs for some time – is a big advantage to building a new home.
Landscaping & Other Allowances
Some homeowners want the landscaping work included in their overall build budget, while others just want to handle it later on their own. Weaver works both ways. If we know from the initial meeting that a client wants us to include this finishing touch, we can work with the landscape of their choice. Or, we’re happy to recommend reputable landscaping experts for the homeowners to engage with when they’re ready.
Always ask a builder about non-permanent materials inside the home, too. Things like lighting fixtures and window treatments might not be top of mind when you have to figure out square footage and a floor plan, but you’ll want to account for them before move-in day. Weaver includes a lighting allowance in each contract and we also offer window treatments if you choose to add them.
Weaver Custom Homes
Before you decide between custom and pre-owned for your next home, take the time to talk to a reputable builder. The experts at Weaver Custom Homes understand the entire process from land acquisition to permitting, lending, designing, and more. They can answer your questions and provide insight with pros and cons to building vs. buying. Weaver is the partner you need in the custom home-building process. Contact us to learn more today.
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