For first-time homeowners, the prevailing argument is whether to buy your first home or build it. Of course, both have pros and cons, but many people opt to purchase a home because building seems out of reach.
But what if building a home actually isn’t that unplausible?
Many feel deterred by the cost to build a custom house. But you may be surprised to find out that building your home isn’t as expensive as you previously thought. So what does it cost to custom build a home; read on to find out.
Location, Location
In real estate, location is one of the most important factors. And that holds true when it comes to building a home. Depending on the lot of land you purchase, you may be paying more upfront.
More land equals more money, so a large lot will cost you a pretty penny. Where the land is located also affects the price. You can get a lot of land for less money in the country, while a city lot is smaller for more dollars. The suburbs often fall in between.
And the final aspect of location is where you’re located. Typically, the higher the population, the higher the price.
Size Matters
It goes without saying that a nine-bedroom mansion will cost more to build than a one-bed tiny home. When it comes to building a home, the square footage you choose directly affects every part of the price.
The square footage determines the amount of building materials, labor costs, and the timeline. These all factor into the building cost. A large home will take more material, more labor, and a longer timeline, so expect to pay more for the nine-bedroom home.
The average cost per square foot to build a custom house is $154, but it can change based on location and the materials used. An averaged-sized 1,500 square foot home will cost about $231,000 to build
Customization
The drawl to build a home is the aspect of customization. When people wonder, “does it cost more to custom build a custom house?” and feel apprehensive, it’s because the customization is the sneaky inflater of the budget.
Simply put, expensive tastes lead to expensive homes. If you want high-end finishes and fixtures, expect to pay more, especially if you have a lot of square footage. Brand new appliances also boost the price.
If you add features like a pool, entertainment details like built-in speakers or indoor-outdoor living, or luxury extras like gyms and spa, expect the price to rise. The more customizations, the higher the price of your custom home.
The Real Cost to Build a Custom House
Many people feel like a custom home is out of their budget, especially for first-time homeowners. But in many cases, the cost to build a custom house can equal what you would pay to purchase a home.
So if the average cost is equal, why not create the home of your dreams from scratch? You can make it exactly what you want it to be the first time around. Your custom home dreams are right within reach.
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