Factors That Affect the Cost of Custom Homes
August 25 Custom Home Design
If you are considering hiring a custom home builder to design and construct the home of your dreams, you have likely wondered what this living space would cost. Unfortunately, there is no fixed answer to this line of thought as every custom home project is unique and will vary in price based on several factors. As a leading custom home builder, the team at Hyline Construction understands that there are many unique features and design elements that go into every custom home we build. That is why we have compiled a list of major factors that affect the cost of custom homes to help you determine which areas to direct your attention to during the design process.
3 Key Factors That Will Affect the Price of Your Custom Home
The following factors will have a significant impact on the final price of your custom home:
1. The Details of Your Design
From the layout of the rooms in your home and the number of floors to the plumbing and the electrical wiring, the details of your home’s design will significantly impact the final price. To demonstrate how small details can affect price, consider two unique homes with 2,500 sq ft of living space. One home has 3 bedrooms and 3 bathrooms, while the other has 4 bedrooms and 2 bathrooms. While many may think that the home with 4 bedrooms will cost more to build, the reality is that the home with 3 bedrooms will cost more as bathrooms are more expensive due to the plumbing labour required and the cost of the items within them. Certain countertops, flooring, and cabinet materials will also cost more than others, so this is worth considering.
2. The Total Square Footage/Size
The total square footage of your custom home will likely have the most significant impact on the price. As one may expect, larger homes with more square footage will typically cost more than smaller homes due to requiring more materials and labour. This is not always the case, however, as a two-storey home with 3,000 sq ft will require less land preparation and space than a single-storey home with the same square footage, reducing the total price.
3. The Location (Terrain & Surrounding Area)
When thinking about building your dream home, it is crucial to consider the price of the land you will build it on as certain locations cost more than others. For example, an urban lot in a popular neighbourhood will likely cost a lot more per square foot than a rural lot in a small town. In addition to the land purchase price, some locations will require more bulldozing, tree removal, and electrical connection work, increasing labour costs.
To learn more about our custom home building solutions or to discuss the details of your project, get in touch with the team at Hyline Construction. We can be reached by phone at 604-889-5242 or through our online contact form and will be happy to answer any questions you may have regarding our services.