The real estate market in the Georgian Triangle has been like a run away train, prices for houses are only going up, up, up. There is no end in sight at the moment to how high the prices are going to rise.
Even though it's early in the spring the market has stayed high throughout the winter with very little coming on the market, anything that does come on the market that is priced accordingly sells almost immediately.
There are several different factors to this, one of them being that there is a lack of inventory of houses, this helps create the rising prices that you are seeing and in many places bidding wars for houses. When people have little choice they are forced to settle on what is available and not what works best for them and their family.
Even if the market only goes up marginally this summer the current cost of homes is making it almost impossible for a lot of people on smaller budgets to buy anything in the area.
There is another option, if you are invested in staying in the area awhile then you should think about building a custom home. A custom home doesn't have to be a monstrous thing worth millions of dollars. You can build yourself a smaller house that is well built and well planned out.
The price difference from building a new custom home compared to buying a used one on the market has never been close with custom homes always being a lot more expensive. But with today's run away real estate market the gap has closed considerably. The cost between the to two of them (depending on were you decide to build) might only be a couple of presentage points more for the new custom home. That means that a new home could cost you only 5% more then buying a resale home.
That's shocking when you think about it, one is a used home and one is a brand new home made and tailored to you the homeowners, tailored to your needs and wants. If you related that to cars that would be like you having to buy a used car for the same price that you can buy a brand new car made just for you and with a warranty.
If you are scanning the internet and are fed up with not being able to find something to buy then maybe you should start looking around for a piece of property to build a new home. It could be the best investment that you ever made.
If you are thinking about building a custom home regardless of the size send me an email and we can talk about finding you a place to build and a house plan that works for you.
Rob Abbott
Village Builders Inc.
Showing posts with label are custom homes expensive?. Show all posts
Showing posts with label are custom homes expensive?. Show all posts
Thursday, March 16, 2017
Wednesday, October 15, 2014
I want to build a custom home but I don't think it's big enough for a custom home builder
Q:
I want to build a custom home but I think the home I want is not big enough for a custom home builder, is there a size that custom home builders will not construct?
A:
Absolutely not. Custom home builders will build homes at any size, shape or price range.
The reason that they are called custom builders are because they don’t have a standard set of house plans that they build from, they will build any style, size, colour and build it wherever you want it put.
The common misconception with custom home builders is that they are extremely expensive, custom home builders are only as expensive as their clients want to be.
What custom home builders do is build a home no matter how big or small to an extremely high standard. Custom home builders do not limit their clients to certain products, basically chb (custom home builders) will build, finish or install anything the homeowner can think or afford. We as chb’s will give you our opinion on the product or the way you want it installed but ultimately it is up to you on how you want your home to be constructed and what the final fit and finish will end up being.
Chb’s basically charge you a management fee for constructing the home, in the end the price of the home is dictated by you the homeowner. You decide on the level of finish, because the cost of construction is the cost of construction you basically have the control of what the cost of the home will end up being.
Since it’s a custom home you the homeowner pick every single thing in the home;
• Windows and doors.
• Roofing.
• Insulation (above the minimal code)
• Floors
• Trim
• Cabinetry
• Fireplaces
• Heating systems
• Siding and stone
• Eve trough
• Landscaping
• Driveway
• Lighting
• Electrical outlets (above minimal code)
• Paint
• Interior doors.
• Size of home.
• Shape of home.
As a custom home builder I have built houses as big as 8000 livable sqft and houses as small as 1400 livable sqft. The cost of them varied not just from the cost of the size but also the cost per sqft because of the finishing’s in them. If you were to bring me plans to a home no matter what the size of the home was I would give you a price to build it.
Custom home builders build homes and there is no house to small, there are homes where the homeowner does not have a big enough budget and that is the only reason that a chb would not be able to build you a home.
Rob Abbott
Village Builders
I want to build a custom home but I think the home I want is not big enough for a custom home builder, is there a size that custom home builders will not construct?
A:
Absolutely not. Custom home builders will build homes at any size, shape or price range.
The reason that they are called custom builders are because they don’t have a standard set of house plans that they build from, they will build any style, size, colour and build it wherever you want it put.
The common misconception with custom home builders is that they are extremely expensive, custom home builders are only as expensive as their clients want to be.
What custom home builders do is build a home no matter how big or small to an extremely high standard. Custom home builders do not limit their clients to certain products, basically chb (custom home builders) will build, finish or install anything the homeowner can think or afford. We as chb’s will give you our opinion on the product or the way you want it installed but ultimately it is up to you on how you want your home to be constructed and what the final fit and finish will end up being.
Chb’s basically charge you a management fee for constructing the home, in the end the price of the home is dictated by you the homeowner. You decide on the level of finish, because the cost of construction is the cost of construction you basically have the control of what the cost of the home will end up being.
Since it’s a custom home you the homeowner pick every single thing in the home;
• Windows and doors.
• Roofing.
• Insulation (above the minimal code)
• Floors
• Trim
• Cabinetry
• Fireplaces
• Heating systems
• Siding and stone
• Eve trough
• Landscaping
• Driveway
• Lighting
• Electrical outlets (above minimal code)
• Paint
• Interior doors.
• Size of home.
• Shape of home.
As a custom home builder I have built houses as big as 8000 livable sqft and houses as small as 1400 livable sqft. The cost of them varied not just from the cost of the size but also the cost per sqft because of the finishing’s in them. If you were to bring me plans to a home no matter what the size of the home was I would give you a price to build it.
Custom home builders build homes and there is no house to small, there are homes where the homeowner does not have a big enough budget and that is the only reason that a chb would not be able to build you a home.
Rob Abbott
Village Builders
Tuesday, November 5, 2013
I have $100,000.00 can I build a custom home?
Q:
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?
A:
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.
Rob Abbott
Operations Manager
Village Builders Inc.
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?
A:
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.
Rob Abbott
Operations Manager
Village Builders Inc.
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