3 FACTORS TO CONSIDER WHEN BUILDING A CUSTOM HOME
Factor 1: Type of Home
The type of home you select will affect the cost of your custom home build. A bungalow will generally cost more per sq ft. This is because you will need to cover more land area. Building upwards you can have exactly the same overall sq footage but as it covers less area it will be cheaper to purchase the land, result in less foundation, smaller roof etc. To give you an idea of the extra cost it is usually approximately double the cost to build a bungalow vs a 2 storey home.
Factor 2: Green
In today’s world, everything is about conserving energy and building more efficiently, and rightly so. This can have an effect on the end cost of the build. There are many different energy factors to be considered. Green building codes obviously have a higher code standard than you find in your local building codes so these should be discussed with your home builder. There are obviously long term benefits to building green, such as energy savings, it can increase the value of your home and in some cases even help you receive tax rebates.
Factor 3: Developed/Undeveloped Basement
A developed basement will obviously cost more than an undeveloped basement in the initial build, but it would most likely end up more cost effective to have the basement developed at the same time as the house is built. Another benefit of having it developed at the same time is that this cost can be included in your mortgage.
The style of home you selected (factor 1) will also play a part in how much it costs to develop the basement but it will usually always be more cost effective to have the basement developed at the same time as the rest of the house instead of having to have separate contractors come in later down the road.