If you’re considering building a custom home, one of your main concerns would likely be the cost and it can be tricky to determine exactly how much this type of project would cost. This is because there are a number of factors associated with a custom home, including décor features and materials, and depending on your preferences, all of these elements will affect the price.
While it can be challenging to come up with an exact number, you can get an estimate of the costs by doing a few calculations. You will first have to determine what it is that you’re after because high-end homes with extravagant features will cost more. Knowing the details will help you determine the cost so that you can see whether or not that number falls within your budget. You must consider the complexity of the design, the quality of the finishes and any municipal charges as these come with fees, all of which will affect the overall cost of your custom home.
Generally, the costs of a custom home fall under two categories: hard and soft costs. Hard costs refer to construction materials and are fixed prices. These are costs that won’t change unless upgrades or additions are made. Soft costs have nothing to do with construction and financing or municipal fees would be examples of this category. While these fees are not directly related to the construction process, they must be considered so that you include them in your overall budget. Reputable and professional builders will provide the client with a list of both hard and soft costs as part of their bid and contract agreements.
Custom homes do take time to build and the duration will depend on the size of the house and the features you are after. The planning stage is the most important step, as this will provide you with all of the details you need and will ensure no aspect is forgotten. Deciding on every aspect of the home beforehand will speed up the construction process and knowing every detail in advance will also ensure you are aware of all of the costs associated with the project so that you don’t run into any surprises. Once the plan is finalized, construction can begin and a modest-sized home with modest features can generally be completed within six months, whereas larger homes with complex features can take up to a year to complete.
It is important to work with an experienced site manager because their knowledge will help ensure the project is completed on time to eliminate any additional costs. If you want to work with custom home builders who will not compromise on quality, Virtual Homes can help. We specialize in home renovations and our interior designers can help you with your dream layout and design. If you are in the Mississauga area and want the home you’ve always dreamed of, give us a call now!