There are many factors that affect the cost of building a house, and here at Woodcastle Home Management Inc., we try to be as transparent as possible about estimated costs right from the beginning at our initial consultation. Early estimates are rough numbers, though and can change a lot during the planning process, depending on the options you choose and some factors that are out of your control.
Here are the main factors that will affect the cost of building a house:
- Size of the house and floor plan: Framing and the interior finishes (like insulation and drywall) are some of the most expensive elements of construction, so the larger the house, the more framing and finishing it will require. A larger house also requires a larger lot. One thing to note is that two storey homes are usually cheaper per square foot than a one storey home because it will have a smaller footprint on the lot and requires a smaller roof.
- Location and lot: The neighborhood or area where you are building will affect the pricing, as well as eventual property taxes and land development fees. The condition of your construction site could also affect the cost of building a house on it, depending on how much site preparation is required.
- Selected features and upgrades: You get to decide what features and upgrades you choose, and these can change the cost of your house significantly. Still, investing in higher quality materials can also increase the value of your home once construction is complete.
- Desired timeline: Certain times of year are busier, and supply and demand can drive up construction costs.
Once you call us for an initial consultation, we can begin to calculate firmer numbers for the cost of building a house, based on your unique needs and wants for your home.