Everything you need to know about costs
If you have any concerns please read this collection of frequently asked questions before contacting us. If you are still unclear about something feel free to contact us.
What does Construction Management & Guaranteed Maximum Price mean?
Construction Management (CM) is a leaner, more efficient system when it comes to pricing out a building project compared to Guaranteed Maximum Price (GMP). To learn more about these concepts click here.
How does your pricing differ from tract builders and other contractors?
We utilize a different pricing system. Tract builders use a system called “Guaranteed Maximum Price” or GMP. We typically utilize a system called “Construction Management” or CM. The difference is that GMP prices are not truly “fixed”, and always marked up for higher profit margins. CM is the most efficient system – there is a fee to manage the project, and everything else is the cost of the actual construction. Read more to learn the differences.
Does a “custom” home mean expensive?
In many cases, no. Custom means you get what you want. Your home is not limited to a selection of stock floor plans. You simply design the home you want with our expert knowledge. In some cases, a custom home can be more expensive simply because the homeowner wants a lot of high end finishes – this is where the rumor that custom means more cost originated from.
What is the average square foot price of a custom home?
On average, a custom home can cost $90 – $135 per square foot.
What type of floor plan is more efficient cost-wise?
The most efficient floor plans are always two-stories, simply because the “footprint” is much smaller. Ranch plans have a larger footprint, which means more excavation and foundation.
What kind of costs will I see developing a custom plan?
Typically, this can vary depending on what the design is based from. A plan from absolute scratch will cost a bit more, whereas a plan from modifications of existing designs will cost less. On average, a custom plan will only cost somewhere between $0.70 – $0.90 per square foot.
What kind of value does a custom home earn?
Custom homes generally carry more value than stock homes. Simply because buyers have access to other homes in a neighborhood that share the same stock plan, whereas a custom home is the only one on the market with that layout. Think of supply and demand – your custom home has less supply and more demand, therefore it is worth more.
Do you provide lots? If not, where can I find one?
No, we do not provide lots. We have great relationships with realtors that have lots available, and we can help find the right lot for you. You can also find them by asking tract builders if they would sell you a lot outright, and allow a custom builder to come in. This practice is increasing due to today’s market.
What is the average square foot price of an addition?
Additions can vary because of the many factors to attach to the home. Second floor additions are usually the most efficient, such as expanding above a garage. It also depends on how the addition is finished, and what types of utilities are in it (kitchens, baths). However, on average assume $135 – $200 per square foot. Contact us and we’ll work with you to give you a much more accurate number.
How does an addition affect the value of my home?
Additions are great value-adds to any home, provided they are done right. We ensure that the addition is always done right the first time, and even if a minor problem occurs we’re there to fix it. We also analyze your planned addition, and we’ll let you know if you are over or under improving – both of which can affect the value and return on investment (ROI) later on.
What is the average cost of a kitchen remodel?
Depending on the scale and scope of the remodel, an average remodel with replacing cabinets and new standard countertops can cost between $12,000 – $18,000 depending on the size of the kitchen. Higher end finishes will add extra costs.
What is the average cost of a bath remodel?
Depending on the size and scope of the remodel, an average master bath remodel can cost anywhere between $7,000 -$14,000.
What is the average cost to finish a basement?
Basement finishes vary based on what you want in the finish, and how large. Baths without existing rough-ins can increase the price, and even adding a simple sink can affect the cost. Keep in mind that a finished basement is a huge addition to your home – you are converting usually about 1,000 square feet into livable space. On average, you can assume $35 – $50 per square foot. Contact us for a much more accurate price on your basement project.