6 Factors That Can Affect The Cost Of Your Dream Home
Mar 1, 2023
Building your dream home is one of the most exciting experiences you’ll have. After years of saving up and hard work, you can finally help create something you can call your own. However, there might be factors that could block your way, especially if you haven’t saved more than enough than your estimate.
As you build your home, there are plenty of things you’d be surprised to cost much more than what you’re anticipating. You can check out build estimations on sites like Boutique Home Plans or view our cost guide to better understand construction expenses you’ll encounter. With this, you’ll know what areas can be costly so you can plan accordingly if you have a limited budget.
Here are some factors that can affect the cost of your dream home:
1. Lot Size
Your property’s lot size can highly define the cost of your home as it can determine how small or big your house is going to be. Typically, the bigger the lot, the higher the price. Thus, you might want to consider your options on which size would best fit your lifestyle.
As you decide on lot size, you must also consider if you’re going to add a parking space and yard area. If you’re eyeing to have the first one, consider getting a larger lot, so you don’t have to live in a crowded home. For the second one, note that it would require landscaping from time to time, so that’s a possible maintenance cost in the future.
Apart from the size of the lot, its location can significantly affect its price. In most cases, lots around the district area are more expensive than those in the countryside. This is because the place is highly accessible to city living. So, the presence of schools, hospitals, malls, and other popular establishments will be an undeniable advantage.
Note that construction costs can also be costlier in the city rather than in rural areas. Meanwhile, most construction materials might not be available in the countryside, so consider the transportation and other added costs.
3. Number of Windows and Doors
While it might seem like a minor factor, the number of windows you’ll have in your home can significantly affect the cost of building it. Glass windows can be quite expensive, especially for larger sizes. However, if you’re eyeing to see a full wall window, you might want to consider dividing them into smaller frames to reduce glass cost.
Apart from the size and number of windows, its treatment and finish can also affect its cost. If you’re looking for a glass that can help reduce heat or light inside the room, prepare to shell out more for this feature.
4. House Size
One of the factors that can affect the cost of building your dream home is the size of the house itself – which plays a big role in the cost per foot. Apart from the added materials for more floor and wall space, you might also need to add rooms, depending on your preference.
Expect an increase in prices when designing a larger house. The complexity of the design can also affect its price. For example, if you’re looking to have a high ceiling, you need to consider the cost of a chandelier, structural support, insulating properties, and finishing touches.
Using high-quality materials to build your dream home will come at a hefty price. This is because they can provide the best standard for the stability and longevity of your home. If you come with a meager budget, though, you might want to consider toning down on some materials and prioritizing which ones you should spend on the most.
Ideally, you shouldn’t go cheap when going for structural materials as the appeal of your house depends on that. You can go the affordable route on non-essential upgrades and splurge on things like flooring or kitchen countertop material.
6. Features & Upgrades
Your house’s features can significantly affect the cost of building your dream home. If you’re planning to add a home movie theater, expect it won’t just be a simple room as you need to accommodate the elimination of outdoor sounds and lights. Moreover, the material you’re going to use to bring it to reality can also be costly.
As you add numerous features, take account of the furniture and materials that go along with it. Alternatively, you can build an all-in-one room and just arrange them fluidly for a seamless look.
Designing your dream home can be exciting, especially if you’d like to add everything you want into the plan. However, with a limited budget, you need to be aware of the things that could affect its total price. With proper planning, you can achieve your dream home without burning your pockets.