The 3 Biggest Factors That Affect the Cost of Building a New Home

21 April 2022
 Categories: , Blog

Many factors go into the cost of building a new home. Some people might think that the price is solely based on the size or style of the house, but that's not always the case.

This blog post highlights three influencing factors that can affect how much you end up spending on your new home. Keep reading to learn more.

The Location

One of the least obvious yet important factors in the cost of building a new home is the location. If you're building your home in an urban area, you can expect to pay more than in a rural area. The land is typically more expensive in populated areas, and more regulations need to be met.

But while the actual land cost is a factor, it is often outweighed by other considerations. For example, the cost of labour and materials will be higher in most urban areas due to the higher cost of living.

In addition, regulatory requirements can vary widely from one jurisdiction to another, which can significantly impact the overall cost. For example, you might need to pay for a permit or impact fees before you break ground on your new home.

Zoning regulations and building codes can also affect the cost of construction. For example, homes in earthquake-prone areas must be built to withstand greater stress, while homes in flood-prone areas must be built to resist water damage. So if you have your heart set on building in a certain area, be sure to factor in these additional costs.

The Size of the Home

Obviously, the bigger the home, the more it will cost to build. But there are other things to consider beyond square footage.

For example, a two-story home will generally cost more to build than a one-story home because it requires more materials and labour. In addition, the roofing, siding, and windows of a two-story home are typically more expensive than those for a one-story house.

The number of bedrooms and bathrooms in a new home will also affect its cost. Larger homes with more amenities will obviously be more expensive to construct than smaller homes with fewer features.

The Design of the Home

The design of your new home can also impact its cost. A simple, rectangular home will be less expensive to build than a multi-story home with many angles and custom features. Designs like this require more materials and work hours since they often need to be custom-made. These design factors can significantly drive up the cost.

In addition, the type of materials you use will also affect the cost. For example, using natural stone or brick on the exterior of your home will be more expensive than using vinyl siding.

If you're working with a limited budget, you need to be realistic about the type of home you can afford to build. Work with a contracting service such as ROBERSON CONSTRUCTION to find ways to save money without sacrificing your dream home.