For any individual, a home is one of the biggest investments he can make in his lifetime. Every starting couple aims for it; every working individual dreams of being able to afford one in the future. But how much does it cost to build a house? Even when you are not yet prepared to churn out the money, you need to know now so you can determine how near or far you are from your dream.
Making an investment on your home is really a question of how much money you need to spend and how much money you actually have. You need to know the estimated costs so as to learn ways on modifying your plans to fit into the budget.
It also helps that you are prepared for the spending. It is difficult to be caught in the middle, leave your house without a roof, because that cannot be covered by your budget.
Estimate the Costs
Here are tips on making cost estimates about building your house so you know how near your dream home is from becoming a reality.
Tip #1: Call in for professional help. A local builder would be more than happy to help you with the estimation as much as it is eager to get the deal. Get in touch with a contractor that builds a house of the same size, style, and designs as what you are planning to have. Normally, you will be told of how much they charge per square footage of floor area. In that sense, contractors are your best source regarding the whole cost of your home. They can also give you a sneak peek on the materials they will use with a particular cost.
Tip #2: Estimate how big or small you want your house to be. The current state of your target land area will also matter in terms of cost. Make sure that you are aware of that.
Tip #3: Know that extra features like a lanai or an extra bath would mean extra cost. If you cannot afford it at the moment, you can put for later your decision to fill your house with specific features. You may go for the basics first and improve as you go.
Tip #4: Inflation rates and current market conditions can also be factors in terms of how much would it cost to build your home. If you plan to build your house years from now, you must include between 3 to 6 percent of cost per year.