I own a lot in Collingwood and want to build a custom home; I want to spend about $100,000.00 is that enough for a custom home?
In one single word NO.
Let me explain a couple of things to you. The building and development fees in the town of Collingwood are dependent on the size of the home between 18 and 30 thousand dollars. Let’s say that you are going to build a small home and you end up paying $18,000.00 for the permit and development fees. That leaves you with $82,000.00; you will need plans drawn by a professional draftsman at the least to receive your permit that will cost you a minimum of $1000.00. Your down to $81,000.00 and you haven’t dug the a hole.
A normal custom home routinely costs anywhere between $200 to $400 dollars a sqft. Let’s say you keep your home as basic as possible and you are able to have it built at $180 dollars a sqft. That would mean that you would have enough money to build yourself a 456 sqft house. Most people’s garages are bigger than that.
Even if you wanted to build yourself a house that small most municipalities have restrictions against the minimum requirements for a home and that would fall well below it.
I hope that gives you some perspective on how much it can cost to build even a simple custom home.
Village Builders Inc.