1. Your Lot or Land
This cost of purchasing your land may be self-explanatory but there are other direct costs to also consider.
- Title costs
- HOA Transfer Fees
- Tax Rate and Mud if necessary
- Mortgage or Lender Costs
You will need to get your own survey as you will have to use the same company for surveys during the build. Include topographical if a lot, also may need to show existing lot features such as trees manhole covers etc. If on a larger parcel of land, just have the acre for the house with a topographical surveyed. We always encourage and highly recommend asking us to walk the lot before you buy it.
We can help you avoid any surprises that can increase the cost of building your home and in some cases substantially. We always recommend asking us to walk the lot before you buy it. Ask us for our complimentary site cost evaluation. Proper cost evaluations for land development will be addressed on-site.
2. Land Development Costs
Land development is a big consideration and is likely to add up quickly. It can be included in your mortgage as well. The following list should not be considered finite. There could other issues to consider depending on your land and lot. We also recommend an option period of 35 days at a minimum on land purchase contracts. This period will allow you to perform due diligence on title, geotechnical surveys to understand the potential vertical rise and the impacts to engineered foundation requirements and surveys on the land to ensure we have a solid knowledge of boundaries, build lines, setbacks and any easements that could affect your build. These are the costs associated with your land. Because you purchased this land any of the development costs that are needed to get the land ready to build your home are included here.
- Permit Fees
- Homeowners Association or Architectural review Fees
- Community mandated additions such as Culverts, temporary driveways, site fencing, erosion control etc. (Ask for us to guide you here)
- Clearing Costs of clearing for the home site included dropping heavy equipment, Labor and Haul off of material like trees and other unwanted vegetation
- Select Fill for house pad (Dirt)
- Geotechnical Surveys (Soils Test)
- Architectural Plan Development Costs
- Septic Systems
- Propane Systems
- Water Wells
- Water tap
- Sewer connections
- Electric service to pedestal
- Electrical trunking to house
- Additional Driveway and flatwork such as pathways. We have 800 sq. ft built into our pricing, but anything over will be an extra charge
- Landscaping requirements
We manage the land development costs with no added margin. This is to ensure this crucial part of the project is managed as effectively as possible. We even fill out all paperwork and associated administration, where possible. Utilities go straight into your name as it is your land, but we can help walk you through that too.
3. Build Costs
- Noble series homes are $145 per sq ft.
- Royal Level Homes are $165 per sq ft.
Design build homes are priced per plan
Every home has an allowance of non-air-conditioned space with it. The ratio is 4:1 so if you have a 3000 sq. ft home it has an allowance of 750 sq. ft of non airconditioned space. This may be garage, porches etc. Anything that has structural additions. If you want to exceed this ratio each additional non-Air-conditioned square foot is $100 per sq. ft.
So, if you have a 3000 sq. ft. home and you want to have a larger garage for example. You might have 950 sq. ft. of non-air-conditioned structural square footage. As this is 200 sq. ft. over the allowance you would incur an additional $20,000 cost to add this garage, in this example.
Total Budget costs. This is as easy as 1 + 2 + 3 = total Budget.
Develop a Budget
An example would be a client who recently purchase an acre of land at $80,000.
Their Land development costs including landscape and irrigation were $70,000.
Their 3000 sq. ft. home costs were approximately $435,000.
Their total finished home budget was $585,000.
We had a client build a similar size home on a lot in a community recently where the total budget was different:
Lot purchase at $40,000.
Their Land development costs including landscape and
irrigation were $50,000
Their 3000 sq. ft. home costs were approximately $435,000
Their total finished home budget was $525,000.
The big difference in this $60,000 saving was the cost of the land and the land development. So please remember conversation costs nothing. Meet or call us to discuss you project before you purchase land to get a better understanding of the approximate total budget that you are looking at. Learn to appreciate the “hidden costs” as they will be attached to your land.
We would prefer you to have a good understanding of what is involved before you start. Finally, please remember we are here to help. We would love to be your builder, but that is your decision. Regardless of whether you choose us or not we want to help in any way we can.
Please feel free to discuss your project with us before you have selected a builder so we can discuss the nuances and uniqueness of your project before you commit to anything with anyone.
Information gathering is so important before you start so you can make the right decisions.