There are many people that have decided that building their North Metro Denver Area home is the right option for them! What does this entail for you and your family? There should be a lot of research done on what type of home you are building, the location of the home, and local architects and construction companies to build your dream home. Are you worried about how much this is going to cost you and how to figure these costs out?
What Costs Go Into Building Your North Metro Denver Area Home
Building your dream home is what you have decided is best for you. You have found your home lot or homesite and now you are getting ready to plan your dream home. Working with a local architect to help you design your home is key. Make sure to talk about the pricing of the layout and furnishing so you don’t go over the budget. These can be such exciting times!
You get to pick out the exact layout, color schemes, lighting, and flooring for your home. Deciding the final layout of your home can take time and lots of changes could be made! Take your time and don’t get frustrated with this process. Once this is completed your architect will reach out about hiring a construction company to start constructing your home. This altogether could take about 16 to 24 months. It’s important to keep in mind you can have missed deadlines, or materials being on backorder. These could make your move-in date pushed back further.
Now let’s talk about the cost of all these now that we know who will have to be involved with making your dream house come to life. Cost of land, architect fees, permitting fees, materials, labor, change orders, furniture, furnishings, window coverings, landscaping, retaining walls, driveway. These are just some of the things you will need to think about when it comes to building your dream home. Building materials that you will be using to build your home can add to the cost as well. Are you going to use real hardwood flooring? This is just one example of a material that can add to the price of your materials.
Calculations When Building Your Home
Here is just one example of how the cost would add up when it comes to building your North Metro Denver Area home. There could also be other added expenses thrown in if you’re building your home on a slope. That is an added price for foundation work that will need to be completed. Also, any problems you run into when it comes to building, or just any updates or add ons you make to the house plans.
- Land Lot Price = $150,000
- House construction at $300 per square foot x 3,500 square feet = $1,050,000
- Large 2 car Garage at $250 per square foot x 750 square feet (25 x 30) = $187,500
Subtotal for lot plus construction cost $1,387,500
- Architect fees = $50,000
- 3% municipal sales tax on materials (@ 60% of house construction cost) = $21,600
- Water tap fee, or approximate cost to drill well = $20,000
- Septic tap fee, or approximate cost to install septic system = $15,000
- Permitting and any impact, linkage, or affordable housing type fees = $25,000
- Driveway – excavation, ditch & drainage, roadbed, asphalt or concrete = $25,000
- Landscaping – trees, shrubs, wildflowers, flower beds, irrigation = $25,000
- Hardscaping – retaining walls, rock walls, stone walkways, patios = $25,000
- Full house audio / video equipment and installation = $25,000
- Furniture and furnishings = $100,000
Cost Of Furnishing Your Home
When it comes to building your dream home in the North Metro Denver Area it’s not just about the outside of the house. You also need to furnish and finish it! Will you be using an interior designer? You should, but let’s assume you are gifted and go it alone. Going to your local furnishing store and seeing what it will cost to put framed artwork on the walls, install window treatments, add cute decorations throughout, a full turnkey kitchen package (small appliances, wine glasses, silverware, pots, and pans…). To furnish a 3,500 square foot house with pillows, linens, duvet covers, rugs, etc. $100,0000 is probably a conservative number. These are just some of the costs you will need to calculate when it comes to building your home. Always make sure you leave room for extra expenses or any surprises that come up along the way!
How Can I Help?
I hope this article is helpful when it comes to deciding if building your dream home in the North Metro Denver Area is right for you. If you have any additional questions about determining the cost of building your North Metro Denver home please feel free to reach out and contact me! I want to provide my clients with interesting and up-to-date information so they can make informed decisions. If you think that my expertise and positive attitude might be of service to you don’t hesitate to reach out and contact me!
Would you like more information on the North Metro Denver area or the real estate market specifically? If so click here to download my current market report on the area or visit this link – http://christinakernexpert.com/market-report-newsletter/
Residential Home Specialist & Global Luxury Specialist
Coldwell Banker Residential Brokerage North Metro Office