The variables of the building process will affect the costs of construction and ongoing maintenance costs after the home is built. In addition to costing the actual construction you will need to consider issues including access, site preparation and availability of services.
Getting a fixed price on the entire project is generally not feasible due to the complexity of building a custom home. Qualified builders and sub-trades can only provide you with realistic construction quotes based on a home design that is specific to your building site and the type of materials that will be used.
Beware of builders who quote using simplistic finished prices per square foot for the whole project. This approach is usually unrealistic and can result in budget overruns because each custom home has unique features and issues.
- The cost of foundation work and site services can vary dramatically
- Covered porches cost almost as much as finished interior space
- The cost of adding decks is greater than most people realize
- The addition of a full height or walk out basements will affect average square foot costs
- The level of interior finishing can vary greatly
- The complexity of the roof system and materials used also impacts on costs
Without due consideration of what is included and what is not included in the scope of work, homeowners often find themselves in a situation where the costs to finish the work exceed their expectations. If the builder has underestimated the project costs due to using simple average per square foot quotes, they will generally ask for more money during construction, as they are unable or unwilling to make up for the cost overrun. Even if a fixed price contract exists, it is highly unlikely to be enforceable.
For these reasons, a combination of fixed prices and realistic allowances is the most accurate budgeting method. Cornerstone uses a detailed construction worksheet based on our experience of building custom homes in challenging locations.
. . . helps to minimize surprises in building costs.