Factors to Consider in Building a Custom Home
There are a lot of factors that go into the final cost of building a home, in general. In Colorado, extra factors must be considered, including the topography of the land, the soil, and the area – building in a ski area town will greatly increase the final cost. A home builder or real estate agent can usually help give you a better idea of a general cost of building a custom home on your lot.
In general, a few questions to consider when looking at final costs include:
- Are there utilities on the property? If not, can the lot get utilities to it?
- How will the home get access to water – a dug well or town water?
- What will the square footage of the home be?
- How many bedrooms and bathrooms must the home have?
- Are other buildings needed on the property – garages, sheds, boathouses, guest houses, etc?
- What type of material are you wanting to use?
- What type of appliances, fixtures, hardware, and other selections are you wanting to install in the home?
- What architect do you want to hire to design your home?
Researching the Cost of a Colorado Mountain Home
Visiting websites like Zillow or Trulia can typically give you a good idea on what home costs are in the area you’re looking to build. If you already own the lot, you’ll have a little bit of upfront savings in the final cost of the home build; in this case, we’d recommend getting in touch with a local general contractor or real estate agent to get a general idea on costs.
National Building Cost Data
Craftsman Book Company puts out an annual manual called the National Building Cost Manual. This manual gives a national look on what to expect for cost per square foot on building a home. For 2018, custom homes are coming in at $235+ per square foot. Semi-custom homes are coming in at $170+ per square foot. These are both national averages, and not Grand County averages, however. For Winter Park, in 2018, the median price per square foot for homes is $364; whereas the Grand County median price per square foot for semi-custom homes is $273 per square foot. The median home value in Winter Park is $379,800, and the median home value in Grand County is $303,100. Around the Winter Park Ski Area and on Grand Lake, we’re seeing homes sell for $700,000+.
Know that there are hundreds – if not thousands – of factors to consider when trying to figure out the cost of building a home in Colorado, but doing a little research can help you get a general ballpark idea of what final costs to expect. We’d also invite you to give our team a call at (970) 726-9225 or email us at firstname.lastname@example.org to discuss how a semi-custom or custom home could fit into your budget.