Your homestead for your family. Your castle for your clan. Whatever you want to call it, you’re thinking about building, which means you’ve come to the right place.
The moment you consider building a home, you begin to imagine the ideal exterior. You picture your home in the perfect neighborhood close to friendly neighbors and nearby attractions. The floor plan includes all the rooms your family needs to feel the most at home. It’s a good bet your dream home also includes all the high-end fixings, including top-of-the-line cabinetry, masonry, countertops, sinks, and all the rest that goes into a modern home build.
Past the imagining stage, you want to know the details of all that goes into a custom home construction project. How much does it cost to build your own home? What neighborhoods are available for a build and are they suitable for your family’s needs and lifestyle? What budget should you aim for to accommodate all the extras you imagined your perfect custom home to have?
There are no easy a
nswers to these questions, since every custom home is unique, and every homeowner has distinct needs.
It would help to have a cost breakdown of all the expenses associated with the home building process, which is what you will find below. The following information consists of estimates for the area of Cincinnati, Ohio.
Good Time to Sell Your Existing Home
Going from a home you own to a custom home is a good move in the current climate. Now is a terrific time to sell your home. Listed homes on the market are receiving multiple offers in a matter of hours or days.
According to the National Association of Realtors, home sales and home transactions have increased in recent years.
The trend is expected to continue for some time. That means you should be able to sell your current home with appreciation, which will put you in a better position to build the perfect home.
How Much Is Custom Home Building Including Labor Costs?
The actual cost of building a custom home in Cincinnati is between $150,000 and $450,000, which comes to around $90 to $150 per square foot. The price you pay may vary, depending on the variables, such as the land, house plans, design options, appliances, and other custom features.
How Much is a Plot of Land for a Custom Home?
In the year 2019, the average cost of land in Ohio was $32,077 per acre. The total cost will depend on the acreage, location, and suitability for construction.
How Much Are Construction Costs Per Square Foot?
The average cost of construction in Ohio stands at a little over $100 per square foot. The total cost will depend on the complexity of the home build, foundation, labor costs, and quality of the materials.
Bringing all your imaginings to life can add much as $30 to $80 per square foot to your construction costs. This is the genuinely exciting part, where you get to pick out every detail of your new home, from the flooring and lighting to the appliances and fireplaces.
The exterior finishes of a custom home can cost $40,000 to $60,000, which includes the windows, doorways, garage, and potentially the roof. This category can contribute a sizable amount to your custom home budget.
Cincinnati home builders need three permits to build a custom home. The total cost includes the occupancy permit, utility permit, and septic permit, which comes to a total cost between $500 to $2,000.
What Factors Can Influence the Price of a Custom Home?
Choosing a multi-level home will increase your home building costs.
Some people want a roof that keeps their homes protected. Other homeowners want a protective and attractive roof. The more ridges and valleys your roof has, the more it’s likely to cost.
Choose your lot wisely if you hope to keep your costs low. Lots that are oddly shaped or on steep slopes will be more difficult to break ground on, causing the construction work to dig further into your pockets.
You may envision a lavish deck, screened-in patio, and azure pool; just know that these additional cost expenditures can boost your overall home price. Landscaping costs can also increase the average sales price.
High-End Building Materials
When you only want the best, be prepared to pay accordingly. High-end extras can quickly eat into your home building budget. However, many of today’s modern builders have impressive options for families on a budget. Sit down with a Cincinnati custom builder like Ashford Homes and you’ll see.
Are There Ways to Keep Costs Low When Building a Custom Home?
One Story Home
Does a single-family home need to have multiple stories? Consider downsizing to a simpler floor plan and single-story home if you want your dollar to stretch a bit further.
If you don’t need all the skylights and ridges, consider going with a functional hip or gable style roof instead.
If you are flexible on the specifics of your dream home, ask your custom builder about pre-designed plans you can make your own with minimal changes. This is a terrific way to save big on custom home building.
Make sure the lot you buy is rectangular and flat to make for easier ground-breaking when it comes time to lay your foundation.
Start the process of home building early so you know your home build can go according to plan. Rushing your project could produce obstacles you had not considered, such as your builder having a backlog of homes to build before yours.
Ready to Build Your Own House?
Now that you’re more aware of what it costs to build a custom home, you might be curious about the process. Here is how to build a custom home.
Create Your Budget
You now have a cost analysis that allows you to set a rudimentary budget for your new construction project. Use these costs as a benchmark but do your own research. You may uncover deals you never thought possible by doing a little legwork.
Even after your budget is set, you should be prepared to be flexible. Experts suggest that your monthly house payment should never be more than 25% of your take-home salary.
If you haven’t found a vacant plot of land for sale, a custom home builder can help you facilitate a land purchase. Custom builders have resources to help you negotiate a deal on the ideal location for your dream home.
Meet with a Custom Home Builder
Finding a custom home builder is no small task. You want someone dependable who is also available and that fits within your budget. The best method for finding a custom builder is to search online for the builder with stellar reviews and with photo evidence of previous builds that fall within your realm of impressiveness.
Contact the builders that catch your eye and ask about experience, diligence, and credentials. Other questions include:
Do you have model homes that can be toured?
What is included with the purchase price of a custom home?
Do you offer upgrades? If so, what upgrades do you offer?
Can I purchase my own fixtures, appliances, and materials?
Can I speak to former clients of yours?
Are you licensed, bonded, and insured in the state of Ohio?
Pay attention to the builders that simplify the custom-building process. Building your own home should be an enjoyable experience. With the right builder, it will be, and after some hunting, you’re sure to find the perfect custom home builder for your needs.
Get a Quote for a Custom Home in Cincinnati, Ohio
Ashford Homes is a custom home builder that wants to bring your dream home to life. We have decades of experience and a keen understanding of what it means to deliver an exceptional home-building experience.
We aim to make the building process easier for you and your family while helping you save money. Whether you want a modern home, something traditional, or a little of both, all while optimizing your budget, we’ve got you covered. Book an appointment today to discuss cost estimates and the process of making your dream home happen.