I’ve been in the remodeling and home building industry for many years and the question I can always count on being asked is, “How much does will it cost me to build a custom home or remodel.” It’s a loaded question! There is not an exact way to blindly answer. So, I’ve started answering the question with another question! “How much does a car cost?”
Now ask yourself, is it for a basic starter vehicle or a luxury family car? Either way, consider the wide price range between these. The costs are vastly different depending on many variables. I cannot guess-ta-mate a price on a kitchen remodel, a new home, or a home addition without the communication of the details, plans, specifications and your personal preference. All these factors affect the pricing, especially your personal preferences and your personal choices. We all know what we like, what we want, and what we need! Some things you may consider “a standard” would not be wanted by another customer.
Just as the vehicles we drive, home remodels and construction have a list of options, upgrades, and variables. You can remodel a kitchen for $40k or spend well over $100k. New construction can be as little as $100 per square foot to over $250 per square foot. It’s all a personal preference and what you want the finished project to be. We build to our customer’s request and needs. For the car example, some people are happy driving a basic Ford and other people want all the luxury of a Mercedes, Bentley, or other brands.
This is a great example of costing per square footage. Say you’re looking into building a custom 4,000 square foot home. You could choose a $1,000 GE or a $20,000 Subzero refrigerator for your gourmet kitchen. By selecting the Subzero fridge, you just added $5 to your existing square footage cost! Choose the GE and you only add about $0.25. $5 verses $0.25. BIG difference per square footage! Now that is just one of hundreds of options in a home.
Different home designs will also make a big impact on costing per square footage. A ranch style design will cost more than a two-story home design. The foundation and ground work is already in place making it’s always cheaper to go up than out. Other simple design aspects such as individual garage doors versus a double door can save you over $1,000 dollars.
Your personal preferences may lean on the higher cost side for some things and on the lower cost side for others. Your builder is paramount in helping you navigate your way through the most important features and preferences. They also need to keep your project in balance and on budget, ensuring you get the best value and return on your investment.
A Kia and a Bentley will both get you to the grocery store and home, but there are major differences.
Most of our customers fall somewhere between Kia and Bentley. Many homeowners mix some basic features in with high end finishes for balance. It all goes back to what you like, what you want, and what you need.