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This video gives you a quick and easy way to estimate your home build, but also dives in deeper if you want to watch longer and learn from one of the best.
Price per sq ft, systems breakdown, budgeting, and even some traps to avoid, this video covers a real life example of building a home and what it costs, and provides ACTUAL numbers for you to follow along with.
Emmett Leo Homes is a luxury custom home builder in Winnipeg, Mb. Come with us on a fun journey of building, and renovating custom luxury homes. From multi-million dollar home builds, to massive luxury flips, Emmett Leo Homes is giving you an insiders look into the world of luxury homes, offering tips, tricks, insider looks and inspiring ideas.
Dan Nagy is the founder of Emmett Leo Homes, entrepreneur, investor, and a retired City Firefighter. After a catastrophic, near career-ending injury, Dan focused his energy into creating the most exclusive luxury building company, using all of his experience in building and renovating profitable luxury spec homes. Learn more about Dan in the link below.
You are watching this because you want to know how to easily price out a home build.
Building a house will cost you anywhere from 150-500 a foot, depending on size, labor, location and materials you choose.
So if you are building a 2200 sq ft two storey, with and unfinished basement, and you already own the lot, expect to pay anywhere from 300K to 1Million to build it from start to finish.
150-350 is a big difference you ask, and you would be right. But you wanted something quick, didn’t you?
So, if you are building a base model, nothing special or super fancy, new, and well built home, you will be safe to estimate 0 a square foot.
300 a square foot? Your getting into the nicer show homes that the track builders build. They will have the butlers pantry, the ship lap feature, nice garage doors, etc. Here you can be in a custom cabinetry and quartz territory.
0 a square foot on the other hand, is where you want custom everything. High end finishes, high quality, and typically things in the house you wouldn’t find in a standard home like secret rooms, an elevator, or a copious amount of important finishes that you just have to have.
Take into consideration that I typically build and sell my homes from 0+/sqft, there are many factors that come into play that often bring people up above that range.
So there are so many differing factors affecting home building prices, that it’s impossible to have a one size fits all that works everywhere. Instead, there are some important factors that you need to consider if you want to dive deeper and get a clearer view of estimating you build.
These factors are: Location, Size, Labor, Material
Location: A hot market is exactly that. Things cost more. Its more expensive to build, its more expensive to buy, and its more expensive to hire builders.
If you are in a hot market, you have to realize that your labor costs, lot costs, and even material costs might increase substantially. For an easy example, think about the difference in building cost in a home in Orange County California, vs in Saskatoon, Saskatchewan. A 3000 sq ft two storey home might go for 600K in Saskatoon vs. 6 million in orange county.
Size. Building a smaller home will generally mean it will be cheaper. But remember that you will always have a base price to simply get them onsite. Also, building bigger might mean more complex construction, uncommon material and specialized labor.
Labor: You should know that builders are NOT all the same. Anyone builder can build you a house, but not everyone can build you a well built house. Also, if there is a labor shortage, be prepared to pay a premium to get your project moved up to the head of the line.
Material: They say that 80% of the home is invariable. meaning, the cost is pretty much the cost. The same 2×4 costs the same in an average house, as an luxury home, and the same concrete used costs the same as well. Where the biggest jump comes is in the finishing costs. That 20% of variable costs can mean the difference between a 900K build and a 1.2 million dollar build.