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Top 5 Tips to Estimate the Cost of Building a New House

Top 5 Tips to Estimate the Cost of Building a New House

Build a house, plant a tree, and father a son… The list seems short and simple, but one can encounter problems on the very first point of it. How to build a house? How much money do I need to invest in it? Should I get a mortgage or save for a long time and pay cash?

Many thoughts and questions may come to your mind when it comes to building a house. This is one of the most important choices in every person’s life. This will be the place to which you come back after a tedious day at work. The parental home which your kids will recall after many years as the warmest childhood memory. Your shelter and your protection. 

If building a house is already on your bucket list and the only thing that prevents you from making a dream come true are doubts, you need to know that the most important thing is just to get started. Remember, the first and foremost thing you should do is estimate the amount of money you’ll need for the house construction. 

Here you will find five tips that will help you calculate the cost of building a house:

1. Start From The Right Point

Many people, getting over-excited about the idea of a house, immediately start from thinking about its interior. They peruse different websites with the curtains that will match the color of the walls in a guestroom or 30-inch farmhouse sinks that will be a perfect size to the kitchen.

However, starting to build a house from scratch requires a more general view. Determine the location of the building and its area. The cost of building in a small town is different from the one next to a big city. Always bear this in mind.

 Top 5 Tips to Estimate the Cost of Building a New House

2. Choose A Floor Plan

A floor plan is a drawing that illustrates the size, number of rooms, style, and other features of a house. It usually consists of the description of one level of the structure.

You don’t have to create a floor plan by yourself unless you are an architect. 

It’s always easier to find a ready-made one than to create it from scratch. Nowadays, the choice of floor plans is huge and versatile. 

3. Calculate The Price Per Square Foot

After you have chosen the floor plan of your dreams, find a good, experienced builder. He/She will have a look at your project and estimate the price of the construction of the house.

After the builder evaluates the cost of the whole building, divide it by the total number of square feet in your future house. Remember that calculating an exact price is almost impossible, the number will be approximate. 

 Top 5 Tips to Estimate the Cost of Building a New House

4. Think About Style And The Quality Of Materials Used In Your Future House

After you estimate the approximate price per square foot, it’s time to think about the style of the project. Think about whether you want a standard rectangular building or extra corners to be added. What kind of roof do you want your house to have? Should the windows be huge or tiny, square, rectangular, or maybe oval? 

There are many details that should be well-thought and taken into account. But you should also bear in mind that a non-standard construction is always more expensive than a standard one. 

You should also think about the quality of the materials used in construction. Undoubtedly, the higher quality you want, the more you have to pay. But remember, the cheapest is the dearest. 

Don’t try to buy as cheap paint, windows or insulation as possible. Use only long-lasting materials in the house of your dream.

 5. Remember About Additional Costs

Even if you reckon that you put under scrutiny every detail regarding the project, and the price of the house is estimated precisely, remember that there will always be some details that remain overlooked. However, don’t forget to factor in adding on a garage to your new home. Look into the cost to build a garage calculator to help you estimate the price to add a garage onto your new home.

Don’t let extra costs catch you off guard. It is always better to foresee such a scenario and save some extra money for additional expenses. Usually, 5-10% of the total sum is enough to cover the possible additional costs.