What really goes into the cost of building a custom home? Here are some insights.
When it’s time for a new home, the decision to pursue a custom build is not one to take lightly. While it will likely cost less to custom build your dream home than it would to buy and then remodel another home, the investment is still major. If you’re considering building a custom home, it is important to have accurate expectations about where the major costs are.
The Site
Finding the right location and purchasing the property is certainly part of the cost of a custom home, but there is additional site work to budget for as well. Depending on the property, you may have surveying, grading, erosion control, septic or sewer fees, water tap fees, consultant fees, and more. You may also have to pay to have other utilities, especially internet or cable, run through the property, depending on where you’re building.
The Building
A large chunk of the cost comes from the skeletal structure of the building. You have to have a foundation poured, which will be more expensive on a grade than on flat land, and the building framed out. There are material and labor costs to both of these.
The Major Systems
There is also a cost to install the major systems of the home, including HVAC, electrical, septic, natural gas, security, plumbing, and more. The house won’t be livable without them, so they have to be part of your budget considerations.
The Finishes
There are exterior and interior finishes to budget for in a custom home. This includes exterior materials, windows, doors, roofing, gutters, and more. Inside, you’ll have drywall, trim, masonry, cabinetry, flooring, lighting, appliances, and decorative items, to name a few. There will also likely be fees for an interior decorator. Together these finishes make up the majority of the budget.
The Other Stuff
There are a lot of other costs that you likely would not even think of, including things like portable toilet rental for the workers, safety rails, building permits, site clean-up, trash pick-up, and insurance, among others.
The Fees
Don’t forget your contractor fee. This is how they get paid for the amazing work they’re doing for you.
Let us be Your Trusted Maryland Home Builder
Are you ready to bring your dream home to life? Enlist the difference of Viking Custom Homes, Maryland’s trusted home builder of high-quality single-family homes for more than three decades. With over 30 years of experience and a reputation of excellence in over five Maryland counties, we offer the highest standard of customer service and quality assurance for your new home. If you are looking to build on one of our beautiful homesite offerings or on your own lot, we are eager to help you every step of the way towards building your dream home. Let us bring your dream to life by building a home where life unfolds! Contact us online or call today at 410-977-2188 to speak with a member of our trusted team. You can also visit our Facebook, Twitter, or LinkedIn for more information.