Perhaps you’ve been looking at the high price tag on existing homes in Greater Toronto Area and wondering how that compares to the cost of a custom home. Building a custom home can be affordable, but the cost to build a new home includes several factors, some of which are unique to the home-building process.
Unlike most developments where the land is prepped and ready for immediate building, a lot you have purchased on your own will have to be cleared and excavated. In addition to the property itself, access to the lot for excavating and construction equipment will also be a factor into the cost. Is it close to accessible roads? Does it have large boulders that have to be removed or is it on a hillside that may require extensive grading?
The bigger the home, the more material and labor will be required. More stories also mean more design work and construction costs. However, careful planning will allow you to maximize space for the features that are most important to you.
Modern , Contemporary, Traditional ? The simpler the design, the lower the cost. However, design professionals can help you find efficiencies in design, layout, features and materials that will accommodate your needs and wants as economically as possible. For example, lots of corners, rounded walls and curved staircases are more expensive design elements. Features such as a Theatre room, pool, an outdoor kitchen also add to cost.
Many factors come into play that affect the cost of new build custom home such as smart systems , entertainment systems, heated floors in basement and driveway, amount of wood panels, precasts, type of wood flooring, granite, crown molding baseboards, types and amount of coffered ceiling.
These are all parameters that will increase/decrease and affect the cost per square footage of luxury custom house.
There is no limitation on spending for luxurious fixtures and finishes. We will help you choose and buy the highest quality material with the lowest price in town.
We are able to achieve cost efficiency for our customers by connecting them to our high-end suppliers and get substantial amount of discount ( up to 40% ) which is offered to ourselves.
Appliances with all the latest bells and whistles are certainly attractive but we have to spend wisely based on your location and if you want to build to sell or build to live. Look for appliances that offer the best energy savings as well as performance in order to save money over time.
Custom home prices vary greatly. In general, the average cost per square foot for a luxury house starts from $250 for the construction of the home . Construction of a basic custom home will cost around $200-$230 per square foot, while a high-end/luxury home will be closer to $240-$280 / SQFT ( per square foot ) depending to the style and size of the house.