5 Hidden Expenses of Home Building

When it comes to building the home of your dreams, there are tons of online resources which can help you choose your home design plan. More often than not, when calculating your costs for any given building plan, people assume that the calculated price is a complete price list for building your own custom home.

Estimated costs are exactly what they claim to be: estimates. The true cost of building a home can often come as a surprise because it is wrongly assumed that the estimate that online calculators give you a complete estimate, when they actually give you a baseline estimate instead.

To be sure that you are choosing to build a home on your newly purchased land or lot that is still within your budget, there are a few important expenses which need to be factored in to your overall costs before you decide to commit to any one plan or design.

Additional costs can crop up in all sorts of aspects of building a home, and a lot of those costs depend on different factors which can affect the overall costs. Here are five easily missed expenses that come with building a home that can help you calculate costs more accurately.

One: Where You Build (Site Costs)

The place in which you choose to build your home can be a major factor in how much you will pay for your home in the long run. If you chose a sunny spot on top of a hill, for example, your costs will run higher than a builder whose home is on a lot with a paved street.

Public utility access can also affect costs significantly. Running electricity, a sewer line, or other utilities can be costly if your home is not on an existing grid too. There are also permit fees associated with building homes that will have to be paid to the municipal government to open lines to your new build.

Unfortunately, these kinds of fees and expenses can only be calculated with an estimation.

Two: Materials, Both Inside and Out

Every home needs a roof, lighting, kitchen cabinets, and similar home items, and the cost of these necessities can vary greatly depending on which ones you choose for your home. Flooring is a must have, but whether you choose to go with tile and Pergo or exotic hardwood floors can change your estimate by $10,000 or more.

The costs of your design plans can rise significantly should you choose to use expensive details like crown molding, custom lighting designs, and high-end hardware for kitchens and bathrooms. Figuring out your probable costs (or at least accounting for your particular tastes) for these types of expenses will give you a much clearer bottom line estimate.

Three: Your Driveway

Unless you are trading in your car for a bicycle or finding alternate routes to your front door, you are going to need a driveway at your new home. Driveways are surprisingly easy to forget about when designing your home, and they can quickly become very expensive depending on their length and the location of your home.

The same expenses need to be considered for other similar areas like patios, yards, and other landscaping spaces.

Four: Laying the Groundwork

Your home’s foundation will likely be designed to be built on a slab. Prior to this decision, your builder will need to order a soil tests and surveys of the land before they can sign off on your plans. The ways in which your land slopes, the soil type, and where the site is situated are all considerations that a builder will need to have before they can give you an accurate estimate, and that cannot be done without a visit.

Most builders will have a basic, average sum for the building plans, but these costs can add up quickly if should any alternations need to take place to ready the land for building, and may not include excavation fees.

Five: A Change of Heart

As your home begins to come together, you may see some things that seemed better on paper than in reality. Once you sign off on the building contract, mid-construction changes can be costly beyond the changes you are considering.

Not only will there be additional material costs, but you will also likely accrue costs for redrafting of plans, the cost of changing the contract (which may or may not have also penalty costs associated with it), and added labor costs.

The easiest way to avoid the sudden shock of having to pay for modifications is to assume that these types of things may arise, and personally pad your building estimate with some extra funds should the need arise.

In the end, you want your custom-built home to be perfect, and planning ahead for the unexpected will help you build a better budget that more accurately reflects the final costs of your home.

Land & Lot Reports

Tags

1926 Circle of Excellence for 2020 2017 2019 land report 2020 economic projections 2020 economy 3 Benefits of Planting Native Vegetation aerial allure of land Apache Junction architect area Arizona arizona activities arizona eating Arizona economy arizona events Arizona home owners arizona land report Arizona living arizona real estate arizona realty arizona restaurants arizona summer activities arizona summer events backyard benefits of planting native vegetation best golf courses best golf courses in Arizona best golf courses in Tucson best hikes in tucson best hiking best hiking trail of Tucson best hiking trails best home decor best home details best housing markets best lights best night lights best night time lights best of Tucson best real estate best real estate market best takeout in Tucson Bisbee blueprint blueprints breweries breweries in Tucson Arizona buildable builder building building a home building house built-in desks built-in details built-in shelves burger buying homes buying land buying land in Tucson buying real estate buying real estate in tucson buying Tucson lots carpet change order cinema room classic car construction construction loan construction permit construction plan construction plans cooling coronado forest cost country custom home building custom homes deed restrictions desert garden desert gardening design design guidelines design guidelines for a Subdivision Development diy home improvement dream home dream kitchen easements eatery eating eating in tuscon economic outlook economic projections economics elevation energy efficient events film festivals film festivals in Tucson fireplace flood flood insurance floodplain Flooring food food tours foreclosure geologic language golf courses golf courses in Arizona golf courses in Tucson gps habitat health heated floors heating hidden room hikes hiking historical hobby room holiday events home home blueprint home blueprints home builder Home building home decor home decorations home details home improvement home owners home plan home size house house blueprints house details houseplants housing markets how to buy how to buy land how to make your neighborhood safer hvac industrial style interior design internet internet in Tucson internet providers in Tucson laminate land land parcel land report land use land use in Tucson land zoning living in Tucson loan program lot lots man cave march land report measurement mexican minimalist modern mortgage movie bluff movie room moving mudroom national park native vegetation neighborhood new home new year night lights non-invasive plants Old West organization packing permit permit needed permits preventing erosion property property in Arizona property in Tucson property listings property report purchasing residential land real estate real estate in Arizona real estate market real estate report realtor tucson recessed light remote work remote work in Arizona remote work in Tucson remote working residential land resolution restaurant riperian riperian habitat rooms run rural Tucson safe neighborhood salad sales salt lamp Scottsdale selling real estate slope spa spa room specialty rooms steak stone style subdivisions Summer summer activities summer events sun exposure takeout Technology theatre things to do in arizona things to do in tucson things to do in tuscon topography travel traveling Tucson Tucson 2020 economy tucson activities Tucson Arizona tucson christmas Tucson economy tucson events Tucson home owners Tucson housing market tucson land tucson land for sale tucson land loans tucson land report Tucson lifestyle Tucson living tucson lot loans tucson lots tucson mountains Tucson national parks tucson real estate Tucson real estate market tucson realty tucson summer tucson summer events Tucson vegetation tuscon land report unusable land Upgrades upgrading your home upgrading your interior useable land vacant land vacant land design guidelines vacant land guidelines vacant land tucson vacant Tucson lots vacation vegetation views vintage walk warranty Wash what to do in Tucson where to eat where to eat in Arizona working in Tucson working remote in Tucson working remotely zip codes zones zoning

Sign Up for News

Sign Up

Featured Listing