What Does It Really Cost? Seeing the Big Picture by the Square Foot

What’s the most compelling reason people choose to build a custom home?

• Getting exactly what you want, how you want it.
• Flexible floor plans that are designed to fit any lifestyle.
• Having the freedom to create something from the ground up in the location of your choice.
• Knowing the value in the price per square foot.

The answer is all of the above. And yet we frequently hear from customers about the many misconceptions around the price per square foot in comparison with purchasing an existing home. To add to this confusion, some considering a custom build assume this calculation is an absolute number – even some builders take this stance too.

Many factors go into calculating a home’s budget based on the price per square foot. That’s why we want to help educate you on the value of each of these factors first so you can be better informed to prioritize what’s most important to achieving your vision within your budget.

Because we never want our customers to lose sight of the big picture: The perfect home of your dreams customized to meet your lifestyle in the ideal setting, is possible.

Let’s revisit the question of what a custom home costs by analyzing the factors that affect the price and increase the value in each square foot.

Size

Without being too obvious, size matters. Though maybe not in the way most people think. Consider that the average cost per square foot goes down as the total size of the house goes up through certain economies of scale. In the simplest terms a two-story, 2,000-square-foot home will have a lower cost per square foot than a 2,000 square foot one story ranch because on average it is typically cheaper to build up than it is to build out; the more roof and foundation a house has, the more expensive it is to build.

Land

What needs to happen to the land you’re building on before you can start construction? Is the lot cleared and leveled, with easy-to-access utility hookups in relation to your home’s positioning? The amount of site work that needs to be done before construction will contribute to your home’s price per square foot. As part of a lot walk, our Construction Manager can also help you find ways to work with the grade of the land and/or incorporate the surrounding environment into your home’s lot placement as a cost-effective solution to a more expensive excavation.

Building Materials and Finishes

Depending on the floor plan of your choice, building materials like stone, brick, or stucco in comparison to siding can drive your home’s square footage cost up or down. Durability along with a chance for self-expression in flooring, tile, countertops, and fixtures are essential for most customers. For that reason, we are here to assist you in prioritizing interior and exterior finishes by finding inroads to savings elsewhere to keep you within budget.

Floor Plan

How much open space is in your floor plan? How many bedrooms and bathrooms are included? Another obvious, but not for the reason you’d think, a contributing factor is your choice of floor plan. A smaller floor plan doesn’t necessarily cost less per square foot than a bigger one. For example, if you were to compare an open space, three bedrooms, two bathrooms 3,500 square foot floor plan, against a 3,000 square foot floor plan with four bedrooms, three bathrooms and a spacious kitchen, you’d see the price per square foot is less in the larger home. The more square feet consumed by walls, in bathrooms and kitchens, the more complex the floor plan might be. The more complex, the more cost per square foot.

Plumbing & Electrical

What do we mean by a complex floor plan? Kitchens and bathrooms are the most expensive living spaces to construct due to the amount of plumbing and electrical work required. But as homeowners, we also spend a lot of time in these spaces. So, while these rooms are complex and costly to construct, they also offer big benefits in the long run for resale value. Schumacher’s floor plans are easy to customize and upgrade high ROI living areas like bathrooms and kitchens. If you are willing to trade less storage space for example to upgrade your primary bedroom’s bathroom to include extra square footage for a frameless walk-in shower, we provide you the levers to fine-tune your budget to make this happen.

At Schumacher, we always give you an honest assessment of what’s included in the cost of your dream home and the value that goes into each square foot.

Have an idea? Have questions? Come in today for a no-obligation price quote at any one of our conveniently located Design Studios. The answer to all your custom home questions is Schumacher.