How Much Does A New Home Cost ?
- The Question Is Certainly A "Classic"...
- "How Much Do Your Homes Cost Per Square Foot?"
- We are obligated, by the nature of our culture, to "shop" every purchase, looking for what seems to be the same thing for less money. We do this with everything we purchase, from pencils to clothing to groceries.
- The problem is, when it comes to housing, price should not be the primary basis for comparison shopping.
- The real question here is... "What Is Of Value To You (the buyer)?"
- The real value in a new home purchase, is directly related to how well the completed project lives up to the expectations and dreams, that led you, the buyer, into the transaction.
- What Builders have to charge is a function of several variables; the cost of developing raw land, the cost of doing business, current market economics that effect everything from the cost of lumber to the availability of skilled labor, bad weather, ever increasing regulations imposed by local governments, and the needs of the future Owners.
- There are literally thousands of different products, and building techniques, which may be used by one Builder, and not by the next. Every one of these variables result in an upward, or downward, fluctuation of the total cost of the new home. Some Builders construct what would be classified as "basic shelter" (production homes), while other Builders construct each new home, as if it were their Own (semi-custom or custom homes).
- These Builders spend a great amount of extra time and money, to make sure the new homes they construct, display an exceptional "Fit and Finish" during and after construction, and go the "extra mile" to make sure the home is energy efficient, has the latest technology, and will be trouble free for the buyer. Naturally, a new home constructed this way, would certainly cost more per square foot, than a production home.
- A ranch style home, a home with a first floor Master Suite, a home on a corner lot, or a home with a walk-out basement (just to name a few variables) would also cost more per square foot to construct.
- Never base your decision of purchasing a new home, on a cost per square foot basis because...
- 1. Cost per square foot comparisons for any custom or semi-custom homes
are simply not valid.
- 2. If the perceived value, delivered to you for the dollars exchanged, supports your expectations of the finished new home, then the cost per square foot, is irrelevant.
- Purchasing a new home is one of the largest, and most important purchases that you will ever make. Don't make the wrong choice by basing your decision on a cost per square foot basis alone.