Thinking of building a newer or bigger residence? People often contemplate the question of how much to build or what is the cost to build. When looking at building a home, most people would like the most home that is affordable. Thus the imposing questions of how much to build and what does it cost to build.
I have been aiding in people find answers to the question of what it cost to build and how much to build for over 30 years now and so I will get right into the formula I recommend to my clients.
I have seen on average the following typical breakdown in cost to build when deciding how much to build. I call it the rule of thirds. Expect that one-third of your cost to build gets applied to labor costs incurred in constructing your project.
Next when determining how much to build it is common to find one-third of your cost to build will go towards concrete work, mechanicals like plumbing, electrical, and heating/cooling equipment as well as floor coverings.
The final one-third while calculating how much to build goes into products included to build the home and include items like framing, windows, doors, siding, and roofing products. Here is where your cost to build could get out of control.
So as you can see you will find place here that you could have influence when selecting how much to build as well as the best way to control your cost to build is by being directly involved in finding the greatest valued products for your new home.
Being a home designer I encourage my clients to try and be aware of the average cost per square foot to build in their micro market since cost to build involved in my three sections covered before can have a super impact on construction cost for the equivalent size structure.
While determining how much to build you should be able to find accurate information on this topic by conferring with realtors in your location or checking local building departments to compare average selling price to total square footage in your market. You will be able to divide this amount to average cost per square foot then next divide your budget by this number to give a starting square footage.
Now you are close in figuring out how much to build you will be able to take this footage and merge this information with other details like how many bedrooms and bathrooms you will need.
Now you know you can find several things you can do to help control your cost to build and be able to maximize how much to build when planning your new home.