The quickest way to determine a general “ballpark” cost of building is to use Square foot Price averages (sqft). These averages are based on a variety of means but mostly national building cost data which is released each year.
Prices are average building costs based on finished square footage, includes allowances for utilites, garages, decks & basically everything but the cost of Land or any bank loan charges!
Tract Homes $140 & up sqft
Example, Classic or Richmond type home built very similar to those around it and on a small parcel in a subdivision.
Semi Custom $170 & up sqft
Example, Similar to tract homes but builder allows some modifications, also located in a subdivision.
Custom Home $235 & up sqft
This is a full custom home to fit your exact needs on your own piece of property! This is what we specialize here at Crosswood Homes. Designing and Building you the custom home you always wanted!
A bit more about early square foot budgeting: Typical building conditions are considered along with good quality type finishes inside and out but not considered high-end or luxury! Simply take the amount of heated and finished living space and multiply by the square foot price $235 being a simplified custom home OR $285 being a more complex custom home with special features such as timberframe construction!
The Factors:There are so many factors that will affect the price to build a custom home and here are just a few:
Size Matters: It is obvious that a larger home will cost more than a smaller one with the same type finishes, but that is not always the case with the square foot calculations. Smaller homes have a compounded sqft price vs. larger ones. Therefore, larger homes over 3,000 sqft will have a lower per square foot build cost than ones under 1,800 sqft. This is because the square foot build price takes in account the cost of infrastcuture & utilites and or tap fees which in most cases are similar costs regardless of house size.
Interior Finishes: Walls, Tile, Flooring, Cabinetry, Countertops and many more! Choosing higher end type finishes can quickly add to the build cost. When designing and planning with your Architect/Builder Matt, he will give you easy to fill out finish selection forms that will help us get your construction estimate as close as possible the first time as to avoid overages!
Exterior Design and Finish: The shape and complexity of the home will greatly determine the cost to build. A simple design with 6 corners or less, truss roof system with only one roofing material and a single siding type will have a much lower build cost than one with 10+ corners, rafter or post and beam roof structure, and multiple bump outs and siding materials!
Ranch vs 2 Story: Ranch style homes typically cost more to build than 2 story homes. This is because a ranch has a larger footprint, thus requiring more excavation, foundation, and roof area versus a 2 story of the same square footage.
Property: the complexity and topography of a lot and where the home is placed is also is a factor to consider along with: Driveway, Well and Septic Systems, City Utilities and Tap fees, Covenants and HOA requirements.
Mountain Building: There is no better place to build than in our beautiful Colorado Landscape and while it does typically offer special requirements along with additional costs, we feel it is an investment well worth it!
Our Goal: To educate and inform you as much as possible so that you can properly plan and prepare your thoughts, wants, and budget towards your new home!