When you decide to build a house, you should have a specific plan about it and moreover, you should have a budget on certain building aspects. So learning how to estimate the building costs is an important step when planning to building your home.
Now we are going to talking something about estimating your building cost. To begin with, we should have a clear idea that the cost of building a house is determined by many things such as the terrain of your land, size of the house, shape and etc. Always think about them when planing a new home construction.
Below are the tips to help you figure out how much it will cost you to build your home.
Do you know whether your land is flat or not? Will you move rocks or fill it with stones? The terrain of the land you are building on can affect the site preparation cost and, in effect, the cost of the new home construction.
It will cost you more to build a small home than to build a bigger one. This is because when building a bigger house, the cost is distributed over the land area.
It also cost less to construct a two-storey home with the same area as a one-storey house, This is simply because two-storey houses have smaller foundations and roofs.
Houses with rectangular shapes cost less to build, while those with more angles and corners tend to cost more. This is precisely because angles and corners increase labour and materials input. It also costs less to build houses with done-shaped roofs as they generally use materials more efficiently.
4. Kitchen and bathroom
Kitchens and bathrooms are the most expensive areas to build in a new home. When using other homes to estimate your building costs, make sure the homes you are looking at have similar features as the home you envision.
Apart from reducing your purchasing power, inflation also increases building costs by about 7% annually. When using other homes as benchmark for your estimated costs, be sure the homes are less than six months old.
6. Market conditions
New homes that look like the one you want to build can help you to draw up a specific estimated amount of the cost. Establish rapport with the home owner and ask for the land price and the house price.
Take off the price of land from the price of the home, then divide the outcome by the square footage of the house. The answer is the cost per square foot, and you may multiply it by the total square footage of your dream home to get an estimate of the building cost.
No doubt that estimating your building cost is very important and you should manage to know every building specifications when constructing your home. Try the tips above and you will become more professional sooner or later in building a home.