Is building a custom home within your means? Are there facets of the build that you can sacrifice in order to reduce the cost significantly? Those might be the questions behind the question: what is the most expensive part of building a home? The answer is that it depends on the home. Still, there’s a lot you can learn about the most expensive parts of building a home and how they may affect your final budget or price. Here’s the main contenders for the most expensive part of building a home and what you need to know about them.
The Lot
The land that your home will be built on will make up a substantial portion of the cost of the home. It’s not just the cost of the land itself, but also the cost of surveying, inspecting, and potentially adding plumbing and electrical hook-ups. You can save money by choosing lots in less desirable areas, but there are often costs associated with that, such as adding road connections and driveways. You can also choose lots that are in a desirable area but which cost less, but these may cost you when it comes time to lay the foundation. Choosing a lot is a balancing act, and it’s wise to have professional guidance when you do it.
The Foundation
Pouring a foundation is expensive; often it is one of the most expensive parts of building a home, usually over most of the items on this list. A larger home’s foundation will be more expensive to pour. The type of foundation and the climate you’re building in will also matter. Adding a basement will increase the cost of the foundation too, of course.
Framing
Framing is the wooden beams that make up the skeleton of a home. This is a surprisingly expensive part of building a home, just because of the sheer amount of materials and skilled labor needed to complete it. Framing may not be as expensive as the foundation or lot, but it is typically more expensive than the other items on this list.
Cutting corners on the framing of your home isn’t exactly wise. Homes are made with wider gaps between rafters than they used to be, but even that isn’t much of a savings. Some people will build homes from shipping containers, which can cut down on the cost of the framing. However, this usually unsuitable for large homes and comes with disadvantages of its own, such as inflexibility and quality issues.
Plumbing & HVAC Systems
The next possible item that could be the most expensive part of building your home is the major systems. This includes plumbing, HVAC and electrical. You can’t do much about the cost of your electrical system, but you can make decisions to lower the cost of your plumbing and HVAC. Smarter building design can limit redundancy in plumbing. Plus, you have choice of material for piping for your home. You can also choose lower-cost HVAC systems, as there are many systems you can use to cool and heat a home.
However, choosing cheaper HVAC systems may end up costing you in replacement. Choosing poorer quality plumbing is less likely to backfire until the house is much older, as long as the plumbing is still of a baseline quality. We can help you make decisions about what kind of major systems you should install in your home.
Windows and Doors
Windows and doors can be expensive items in a home, depending on the quality and style of the windows and doors you’d like. As with other items on this list, there is a bit of a trade-off that you may end up paying more in heating and cooling costs if you choose lower-quality windows and doors. Windows with poor glazing may let heat in during the summer. Poor quality doors may let your conditioned air outside or let cold in during the winter.
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Interior Finishes
In some high-end homes, interior finishes take up a substantial portion of the cost. If you are considering get very high-quality finishes, appliances, fixtures, and other home features, then you will likely find that interior finishes are one of your larger line items. Interior finishes also include paint, fireplaces, flooring, drywall, trim, mirrors, countertops, cabinets, and more. Thankfully, when it comes to interior finishes, you have complete control and can focus on what matters most to you. If your kitchen countertop is essential to you, you can opt for a very expensive and unique piece while spending less on other items to make up for it. Finding that perfect balance of budget and aesthetics is something that a skilled home designer can help you with.
Exterior Finishes
The exterior of your home may also be costly, depending on the decisions you make for it. Exterior stone, siding, or other finishes may not be that expensive in comparison to the other major elements of your home. However, there is plenty you can add to the exterior to drive up the cost. These major items may make the exterior of your home the most expensive part, particularly if you choose several of them:
Porches
Decks or patios
Pools
Decks
Gardens
Other landscaping features
Just as with interior finishes, you have complete control over the exterior finishes of your home. There are plenty of options that can help you reduce costs. You can choose to focus on only the features that matter most to you. That is, after all, one of the biggest advantages of building a custom home.
Where Should You Cut Costs?
So, now that you have some idea of which parts of your home may be the most expensive, where should you cut costs? It really depends on your priorities, from where you want to build your home, to the features you want inside of it. The best way to get a good sense of the best decisions for you is to work with a skilled home designer and builder who can help you figure out your priorities and guide you on how to achieve them.