Who does not dream of owning a big and spacious house one day, a dream come true. However, the costs are not negligible and we have to be aware of where we are heading before we actually start any construction work.
It is wise to be aware of all the costs involved when building a home and plan carefully before you start, knowing how much you will have to invest. To start with the cost of building a house will depend on your location, for it can vary drastically from one place to the other.
You can solve this issue by consulting a real estate attorney who will give you a good estimate of the expense in your area. You will then know how much the construction cost per square foot and what factors influence how much a house costs to build.
The cost of plots of land varies according to whether you intend to build near the center or in an area which is considered luxurious.
If for you the location is fundamental then you will have to cut down on the costs of building materials and the construction. However, if you choose an area where land is cheaper you can add up to an extra fifty percent and dedicate it to a bigger house built with better construction materials.
As far as construction materials go their price varies greatly from region to region and you will obviously be spending more if the surface area of the home you intend to build is greater.
The quality of the materials will also determine the final expense as will the expense of labor unless you intend to work on your house yourself, in which case you will have to consider the work involved and hours you will need to dedicate to the construction.
A contractor will charge you according to the ongoing rates of construction and quality of their service. Be aware that sometimes hiring a cheaper contractor can lead to problems, so check out the qualifications of the company carefully.
Remember that there are a lot of hours into building a house and you do not want to be led astray or abandoned in the middle of construction works. There are a lot of scam building contractors out there, so research thoroughly before signing.
Here are some actual numbers to give you a rough idea of how much you will actually be spending. To build a house your expense can vary from 90 to 220 per square foot, again this will depend on the area and region you intend to build the house.
So, basically it will cost you anywhere between 200,000 to 500,000. If you are hiring an architect you will have to add from four to twelve percent of the total cost in fees.
Now if you are planning a luxurious home, spreading over a few thousand feet, with swimming pool and sprawling gardens plus other amenities then the cost can reach to 600,000. To go to the other extreme, you can spend nearer to 45,000 if you have our own land and use cheap materials.
So before venturing into the construction of your dream home, consider all the above factors and do your research carefully.