5 New Home Construction Cost Estimation Tips

There is no exact calculator that will tell you how much your home is going to cost to build. You can, however, know that if you want to build a Versailles-Like palace, that it will probably cost a fortune. Home building varies in cost depending on what kind of vision you have for your home. If you want something more ornate, you can bet that it will cost more. If you are on a budget, you will need to do a lot of minute calculations to determine the sizes of every aspect of the home, but you will also need to closely examine the complexity of the construction. For instance, you can save a lot of money by incorporating a more open floor plan. Here are five new home construction estimation tips.

  1. Materials used. When it comes down to it, there are budget-friendly materials and then there are materials that aren’t. It is that simple. For instance, marble will be more expensive than slate or granite. So, if you want to incorporate more expensive materials into your final design, you can bet that you will need to increase your budget. You can also start looking into ways to save if you want more expensive materials, like purchasing reclaimed wood – instead of new wood floors. Deciding on what materials you want to use will be an important first step in devising estimations for your construction costs.
  2. How much did other homes in your area cost to build? Some neighborhoods and communities have homeowner’s associations that regulate how a certain home can be built. If this is the case, you’ll probably end up with a home that is similar to your neighbor’s home. So, you may be able to ask if they can give you an estimate of what it cost to build their home. They may even be able to give you a tip on a good contractor.
  3. Measure the square footage. If you want to get a base cost for the construction of a certain home, you can measure everything by the square footage and then estimate that it will probably cost about $50 to $100 per square foot. This measurement of course is a base estimate and doesn’t include overtime costs and other expenses, but it is a good place to start, especially if you are considering building on a certain plot of land.
  4. Heavy construction. You can also assume that if there is any heavy construction in the construction of your home, the cost will go up. For instance, if you are building a home on a hillside in Los Angeles, you may have to research LA cranes for rent. You may need to lift large beams and other structural elements via crane to complete the construction of your home, which will cause the budget to balloon.
  5. Architectural details. Let’s face it, a simpler home will cost less money. However, if you want more ornate details, you will either have to pay more money or get creative. For instance, if you want wooden marquetry on your floors or walls – or interesting tile work – you will have to hire a craftsman. At the end of day, if you are on a budget, you may not want your expensive taste to get the best of you.

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  4. What to Keep and What to Get Rid of When Renovating a Historic Home
  5. 5 Common Home Renovation Errors to Avoid
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