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The question we are most often asked is: What will it cost to build my
home?
The correct answer is: We don’t know.
But who wants to hear that? How can a PM company that has been building
homes of all types for over 20 years not know how much it will cost to
build my home?
The cost of building is immensely variable, and is based on many many
factors including:
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the type of home (conventional, log, timber frame, concrete)
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the complexity of the home (bungalow, roof lines, footprint)
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the exterior finish and appointments (vinyl, wood, brick, stucco)
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the quantity, style, and type of doors and windows
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soil conditions (clay, sandy earth, rock)
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the time of year that you will build (spring [busy] or winter [quiet])
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the interior appointments (hardwoods, ceramics, carpets, trims and moldings)
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the type and style of each plumbing and electrical fixture
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the style and materials for kitchen and bath cabinets, including countertops
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add-ons such as fireplaces, stonework, shutters, transoms, grilles and posts
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the extent of your involvement in the project
The list is extensive. And given the incredibly wide range of choices
available to homeowners nowadays, and the price elasticity of all
materials and trades, it becomes very difficult to pin down the budget
until all is known with regards to your requirements for your new home
including when and where you plan to build. The same 2,000 square foot
home, built on the same street, can cost one homeowner $200,000 and
$400,000 for the homeowner across the street. The lesser cost home will be
moderately appointed, and finished vinyl siding, whereas the other home
may feature brick, architectural details, granite countertops, multiple
fireplaces, Jacuzzi tubs and extensive landscaping.
Use Our Rules of Thumb to get Started
We can however provide rules of thumb for building, based on cost per
square foot. The table on the left shows you some rules of thumb to use
for a well appointed home. We have also designed a useful New Home Cost
Calculator to help you do some trial budgeting exercises. It is quite
complete and allows you to make inputs based on the style of home, how you
wish to finish the interior, and how you plan on optioning the home. Just
go to this link and enjoy:
http://www.maisonparagonhomes.ca/about/home-cost-calculator.htm
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Getting It Right
Your PM will spend much time with you to understand your complete list of
requirements in order to develop a proper trial budget. Then, as costs are
revealed during the tendering process, you will be able to make fully
informed, knowledgeable decisions on how best to proceed to respect the
budget. After all, the budget rules!
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