Home Building Costs

Understanding the main factors of home building costs helps a homeowner create expectations in line with his budget. Home ownership is likely to be the largest single expense any person is likely to incur, making it essential to understand the factors that influence home costs.

Home building costs vary immensely depending on the floor plan, labor, and site modifications required. However, every potential homeowner who is considering building should be knowledgeable about these main areas.

Many homeowners hesitate to hire an architect because they want to save the majority of their budget for construction. This approach is often foolhardy because a good architect will easily be worth his fee. A trained professional knows which areas can be scaled back to reduce costs, and which upgrades are essential for long term usability of the home. An architect who realizes his client's budget concerns will be able to develop a floor plan that minimizes plumbing and electrical costs by careful placement of bathrooms, kitchens, and other service areas. The architect will also be on hand during the construction process to provide the experience required to know whether or not the contractor is delivering quality workmanship.

The most expensive items in the construction of a home are the foundation and roof. Not only are these architectural elements labor intensive, but they also make use of expensive building materials. For this reason, multiple story homes are often less expensive per square foot than single story homes. Another possibly costly part of the building envelope is the exterior cladding material. If economy is the main goal during construction, choosing a simple cladding material can easily save thousands of dollars during construction.

The cost of site work is largely dependent on the condition of the site. Rural sites may require digging a well or installing a septic tank. They may also require extensive earthwork in order to create a place for the house's foundation. Urban sites may necessitate the demolition of a previous structure or could require tapping into the city sewer and water systems.

Labor costs vary according to region. In areas where labor is especially expensive, options such as modular housing should be explored for the budget conscious consumer. Even if the budget for the home is incredibly small, it is very important to hire a licensed and insured contractor. Trying to save money by using day laborers or under the table workers often leads to disaster and expensive home repair costs.

Interior finishes within a home can easily inflate the cost. Conversely, simple design choices are able to keep overall costs of the home reasonable. If resale value is a concern, the homeowner should plan on installing interior finishes comparable to other homes in the area. Once again, an architect will be valuable in making any cuts necessary without sacrificing quality.

Architects and contractors can estimate the cost of a home more accurately than most laymen because of a variety of refined tools at their disposal. The most common of these tools are RSMeans publications. These books or computer programs accurately determine the cost of a building based on the region, size of the floor plan, and other factors. As the floor plan for the home becomes more refined, the accuracy of the construction estimate also increases. Many regional architects have proprietary software that further aids them in determining the cost of the home. Estimates by a professional can be 10 to 20 percent more accurate than construction web sites with online estimates.

Building your own home can be an incredibly rewarding experience. The key to getting the type of home you want is employing experienced professionals who are eager to help you realize your dreams.

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