As with every other new custom home decision, finding a budget for custom homes is a little bit of a balancing act. You want to include all of the luxuries you can while still being very mindful of all the types of costs that will creep on you. Custom home building can often be a real once-in-a-lifetime opportunity, so plenty of people going into the experience are unaware of the various costs. If you are unsure of where to start with building a budget for a custom home, read on to learn much more about where these costs come into play.
Design and Architecture
It is not uncommon for about 10 to 15 percent of a budget for a custom home to be fully dedicated to design and architect fees. A few builders package up these costs and can help save money while streamlining the entire process. This can vary a lot depending on which architect you decide to go with.
Inspection Permits and Fees
Custom home building can come with plenty of paperwork. This is because it is very important to ensure that your house is built according to the proper local codes and is inspected thoroughly to require all the proper permits. An experienced home builder will help you navigate this field.
Real Estate and Land
No budget for a custom home is truly complete without the land to build it on. The cost of purchasing land, as well as any real estate costs you might pay to have someone help find you that land, are going to have to be factored into your budget too.
You are going to pay taxes on subcontractors, materials, and any other service providers. It is difficult to account for taxes so that new homeowners can become blindsided by all extra costs. Work with an experienced and transparent home builder who could help you determine the costs from the very beginning.
For plenty of new homeowners, building their custom homes is going to require taking out some form of a loan to pay for all of it. Loans will make the process possible, but there are, of course, fees that come with them as well.
Depending on the land you have bought, you will also need some form of excavation and foundation preparation. Inexpensive land might be had to build on, which can result in higher overall costs during the lengthy building process. Different types of foundations will have different fees, like concrete slabs, full concrete, and much more.
You might not want to opt for any robust landscaping services with the initial build. If you do, just keep in mind that grass, trees, and everything else that makes a good landscape will add up for the cost.
Robin Ford Can Help You to Build the Custom Home of Your Dreams!
With over 30 years of award-winning custom home building experience, Robin Ford and his team of expert craftsmen have earned a stellar reputation for their commitment to quality. Click here to learn more about our financing options and how we can help you find a home within your budget.
As an Indoor airPLUS Partner, ENERGY STAR® Partner, Certified Green Professional, and Maryland’s only proud member of the exclusive Southern Living Custom Builder Program –Robin Ford Building and Remodeling, Inc. is equipped to build you a home that your children’s children will want to own.