It is always difficult to speculate on what the overall Construction Cost of a home will be.
There are numerous elements of the construction process which will be different for every project and will have a positive or negative effect on the eventual cost of your home.As a result we prefer to give you a range of cost as our best guidance.
Construction Costs can range from $175 - $300 per square foot. (Less per square foot, if you include a finished basement.) These are the costs to construct your home ready to move into. Generally speaking these are all the costs within the perimeter of the foundation.
What causes the large range in Construction Costs and cost per square foot of living area?
- The geographic location, site conditions and remoteness of the location will effect taxes, labour rates and shipping cost.
- Features of the home such as sacrificing square footage to achieve large soaring cathedral ceilings.
- The size of home. Smaller is not always less expensive per square foot than a larger perhaps more efficient building.
- Is the construction of your home BUDGET driven or DESIGN driven?
- Amenities outside the living area such as decks, covered porches and a garage will affect the cost per sq.ft. of the living area.
- Complexity of the design.
- Your choice in the quality and quantity of finishing materials such as windows, mouldings, doors, kitchen cabinets, fireplace, plumbing and electrical fixtures, floor and wall finishes.
There are 3 elements to the overall cost
of building your home:
- Land, Interest Carry and Legal Cost:
This is straight forward. However, if the land is serviced with municipal water, sewers, hydro and gas, then the cost of Site and Servicing will be less. (see 2.)
- Site and Servicing Cost:
Includes but not limited to surveys, permits, insurance, consulting fees, development fees, connection fees, utilities (i.e. hydro, gas, telecom), sanitary & water systems, site clearing, driveway, landscaping, demolition, blasting, furniture, appliances & special decorating costs.
- Construction Cost:
Your Construction Cost will include such costs as foundation, Normerica Timber Frame Package, carpentry labour, electrical, plumbing, heating, cabinets, drywall, painting, floor and wall finishes, etc.; but does not include site and servicing costs or land costs.
Variances on costs will occur due to the following: intended home location, availability and cost of skilled labour, taxes, design and size of your home and the price range of selected features of your home such as kitchen cabinets, fireplaces, electrical and plumbing fixtures, floor and wall finishes.
For more a more detailed list of costs see the budget items on “The Total Construction Cost Budget Work Sheet” below.
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