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Custom Home Building Cost Factors

September 17, 2018

Custom Home Building Cost Factors

One of the main reasons that stops people from building a custom home in Victoria BC is the cost. Because of the perceived high cost of building a custom home, people often think “there is no way I would ever be able to do that”. But this is a long standing misconception - custom homes can often be affordable, and the high value of your perfect space is something that can’t always be quantified. If you have ever been curious about how much building your own custom home would be, take a look at some of the factors that go into determining that cost below.

Builders Reputation

While the cost of a custom home varies widely, there are a few factors that will help you estimate your budget. The first factor to consider is your builder’s reputation. You will want to make sure your Victoria custom home builder is reputable, trusted, and has the proper licensing and insurance. Yes, you may have to pay a little more for this type of quality service, but it will save you money in the long run as unlicensed builders often make costly mistakes. To make sure you are dealing with a top notch builder, ask to see copies of their licenses, and take a look at their portfolio of previous projects.

Choose A Honest Builder

So, you have determined there are a few reputable builders in your area: how do you choose which one will build your dream home? Since your builder is one of the main gatekeepers when it comes to costs, you will want to choose the right builder and not just the right price. While it may be tempting to go with a builder who will help you get a deal, always choose the builder that understands your long term needs instead. For example, while it may be great to choose a cheap flooring option for your home, your builder may not warn you that your busy family lifestyle can cause that flooring to need replacement much faster. Your builder should always be honest with you and provide you with realistic budget allowances.

Quality

Lastly, the cost of your dream home will depend on the quality of home you are looking to achieve. Keeping the budget low may keep you happy now, but once you are living in the home there may be certain kinks that may have been solved by a few extra dollars. This type of quality building provides you with a high quality of life in your new home, and may even save you extra dollars that you may need to spend fixing issues later. Consider asking your builder to build above the bare minimum of building codes, and think about the impact these changes will have on you and your family.

Make sure to keep the above factors in mind when considering how much your dream custom home will cost. Need help coming up with a more precise budget? Contact us today.