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What is the average cost per square foot for building a Custom Home?

Answer:
Building a custom home can be an extremely trying

process. There are a gazillion things you'll need to do including picking out carpet, trim, paint, fixtures, faucets, etc. etc. etc. The list goes on and on but it's a good idea to know what your getting into before you take the plunge. Pricing for custom homes differ with the builder and the location. There is an average cost per square foot that can be used which may help you budget accordingly.

For those of us that aren't made of money we need some figures to help us budget for our dream home. There are essentially two large transactions that go into building a home.

The cost of building a home and the cost of the lot of land the house will reside. It's a good idea to price your home build before you purchase your lot so that your not caught with a piece of land without a home on it.

Imagine purchasing a perfect lot only to find out your dream home will need to be reduced to 1500 square feet because you didn't budget accordingly.

Of course each location and custom home builder is different. There are custom home builders that will inlcude features so fancy that it takes a year to order or produce the materials. For most of us, maple cabinets, hardwoods or tile and granite seem to do the trick. Of course the floor plan of the home will only allow for certain features but the average custom home entails a family room, living room, kitchen, dining room, bathrooms and bedrooms.

On average, you can get to approximately 90% of the home build cost at around $175-$200 per square foot. On the higher end of $200 square foot it will cost you approximately $1,000,000 to build a 5,000 square foot custom home. Knowing you only have $1,250,000 to spend on a luxury custom home, you now know that you can only budget $250,000 for the lot of land.

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Again, each home builder is different so be sure to meet with them to find out what's included. Some have landscaping allowances and other includes that are added into the cost per square foot.

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