Building A New Home? Learn How to Determine An Accurate Budget

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When determining a budget for building a new home, the more information you can gather regarding your needs and wants, the home size, property characteristics, and interior and exterior finishes will help determine a budget that is meaningful to you.

How much per square foot will it cost to build a home?

This is a question that many people ask when trying to compose a budget. It would seem to be a plausible question, but for a custom home builder, it isn’t. When contractors provide a square footage price, it is an average number comprised of previous projects completed. It isn’t specific to your home or your needs and wants. In addition, fluctuations in the market can alter pricing significantly.

Determining an accurate square footage price is comprised of many factors, such as the ones listed:

  • What is the lot like? Is it flat or sloped? Is there fill that needs to be removed or compacted? Does the lot have proper drainage?
  • Are utilities available to connect?
  • Septic system or well?
  • What are the Permits and SDC Fees for the area?
  • Is the home one level or two? Daylight basement?
  • Driveway length?
  • What type of siding? Cultured stone, brick, Hardi plank, cedar shakes?
  • What is the roofing material?

When considering the interior finishes, the decisions are endless.

  • Wood vs painted doors and trim
  • Solid surface counters vs laminate
  • Wood, tile, laminate or carpet flooring
  • Appliance package
  • Lighting and fixtures
  • Plumbing fixtures
  • Upgraded insulation

Starting a project of this magnitude can be overwhelming, particularly if this is your first experience in building a new home. Therefore, we prefer to connect with you early in the process so that we can assist on comprising pertinent information that will help you determine an accurate budget. For example, we assess the property, determine elevations and a preferred homesite that best utilizes the property.

We become your liaison between the city and or county regarding permits and required utilities.

building a new home planning to build a home drafting a budget for a custom home build in portland oregon area

Our team works closely with you and your (or our preferred) architect on the size and design of the home that supports your needs. We also help you determine the finishes of the home.  The goal in gathering and determining all the pertinent information early on will help you avoid the pitfalls of designing a home that is over budget.
This process is extremely beneficial as it ensures all involved are on the same page as well. Our goal is to help you with the building process, so the result is a home you love and is built or remodeled within your budget.
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