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Understanding Your Cost
We believe the entire home building process should be fun! You get to make your dream home a reality; what's more fun than that?
But, if every single element you look at is blowing your budget, the fun quickly evaporates. That's why it's important to be savvy when considering how to reduce your home building costs - you want to consider different ways to save money that consider everything from building permit fees to the price of installation for plumbing fixtures.
But don't get too worried. You can still design the home of your dreams without breaking the bank! Here are some tips to help you keep the price in line, while still getting your beautiful new home designed just the way you always dreamed.
We've all heard this before, but it rings true here; beautiful scenery is priceless. Build your home on a finished lot in a location that you find beautiful, and half the work of building your dream home will be done.
You won't have to worry about covering up a bad view, plus you'll be able to enjoy scenery that provides moments of quiet and a nice view for coffee in the morning.
Choose a location that is still close enough to all the places you frequently go for an easy commute. For a list of new housing developments perfect for families in Houston, see this article.
When designing your home, splurge in the areas you use most. Do you spend a bunch of time outdoors with the entire family? Then splurge a bit to make your outdoor living space a place with must-have features where people can't help but enjoy each other's company.
Or, you might add the high ceilings you love in the kitchen and family room, but leave the secondary bedroom & bathroom ceiling heights lower. Or splurge on upgraded flooring in your common spaces, but not in the utility room.
A pretty kitchen backsplash that will be seen from the kitchen, family room, and casual dining area will have a higher impact than upgraded flooring in the kid's bathroom.
Find a builder that will creatively problem-solve with you to meet your budget needs, including managing overall costs like labor shortages and building materials.
As luck would have it… this is the topic of our next seminar. February 16, 2019 at 2:00 at our Pinehurst model home and design center, 32400 Highway 249. You're invited!
Building your own home can be daunting (so daunting that we've put together a complete guide to help you get started.
Modifying an existing floor plan rather than starting with a blank sheet of paper takes less time and cost. If your builder has in-house design, they may allow you to modify an already developed floor plan.
Find a plan that meets the majority of your needs and then modify it to meet the rest. Choose simple shapes (e.g. squares or rectangles) since more complex ones (e.g. curves) cost more per square foot.
Using mostly brick with stone accents will help you stay in budget. If you want a stone look, consider using a brick that is similar to your stone.
When your home is viewed from the street it will give the appearance that it is all stone. Additional accents like cedar shutters will also add to the appeal of your home without adding a lot of cost.
Look for energy-efficient systems that will save you money over time. These may cost more up-front, so you'll want to compare construction costs and calculate how long it takes for them to “pay for themselves”.
The professionals you work with on each element will be able to show you how their products save you money on homeowners insurance and energy bills.
HVAC and insulation are high-impact elements that are difficult to change after your home is built, so you'll want to make sure they work together efficiently.
My favorite “design hack” for helping clients stay on budget and still get the interior design elements that they really want, is helping them determine what to do with their home builders, and what they can change or finish later.
While you can postpone frills like fancy door knobs, expensive cabinet hardware, fantastic light fixtures, and high dollar faucets & shower heads till a later date, it doesn't pay to scrimp on features that cannot be easily changed. If you don't plan carefully, you could end up paying additional costs in the long run!
Flooring, cabinetry, and countertops are hard to change and make a big mess you have to live with while changing.
So, weigh these decisions carefully and get what is important to you. For the easy to change items, just go with the builder's standards and then change them out later. Splurge on the hard to change items that give you the “wow factor” you're looking for in your new home.
If you've considered your options and decided that building a custom home is the right decision for you, you've no doubt got questions about the cost. Here are answers to common questions we've received about pricing for custom homes.
The total cost of building a custom house in Houston varies based on square footage and the work that goes into land preparation.
In Houston, the average cost to build a custom home incorporates expenses such as building permits, site preparation, and the purchase price of the land. Generally, the cost of constructing a custom home starts around $200 and $300 per square foot for more customized, higher-end interior finishes and designs.
For luxury custom homes, costs can exceed $300 per square foot.
Skilled professionals and general contractors can provide expert advice to help with optimizing costs, related to everything from using cheaper construction methods to selecting cost-effective interior and exterior finishes.
For more information about how average construction costs in Houston, see this useful article from Houzeo.
The national average price to build a custom home can vary widely. It typically depends on the complexity of the house plans and the overall cost of materials and construction loans.
The national average cost to build a custom home ranges from about $100 to $155 per square foot, with overall costs averaging around $284,000 for new home construction.
That said, final figures can vary widely depending on the location and the specific features included in the home. With this in mind, building a custom home in Houston can still be somewhat more expensive than the national average, especially if you want more luxurious designs and finishes.
Yes, the housing market significantly impacts the costs associated with building a custom home. Fluctuations in the cost of building materials and labor shortages can significantly affect the total price of constructing a brand new house.
When planning your new construction, it's crucial to account for not just the down payment and construction loan, but also hidden costs.
These include electrical wiring, installation of major systems (like HVAC), and long-term investments in energy-efficient features that could save you a pretty penny in the future.
Remember, the overall costs of building a house also include the purchase price of materials and payment to skilled professionals.
Dreaming of building your own home in Houston but worried about sticking to your budget? Building a custom home is a significant investment.
That’s why you deserve to work with a team of professionals committed to guiding you through every step of the process – from initial design to the final touches.
Schedule a call today to discuss how Dunn & Stone can bring your dream home vision to life. Our expert team will work with you to ensure that your dream home meets your budget with zero compromises when it comes to quality.
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