Building a custom home comes with a ton of advantages, the primary one being that it gives you total control over the construction of your dream home. However, the process of building a home naturally comes with a lot of moving parts, and if you aren’t prepared, you may find yourself making the same mistakes many first-time homebuilders make. This article talks about the benefits and costs of building a custom home in the Colorado Springs area, as well as lists some of the most common mistakes people make when building a custom home so that you can avoid them.
Building a fully custom home means you are in complete control of every aspect of the building process, from where the home is built to how many light switches there are. On average, building a custom home in Colorado Springs costs around $260 to $400 per square foot. While it is an amazing experience, there are a number of common mistakes people make when building a custom home, including choosing the wrong location, underestimating the budget, not taking their day-to-day lifestyle into account, not anticipating delays, and not asking questions.
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Benefits of building a custom home
Building a custom home comes with a ton of advantages that make it a great option for a new homeowner. The biggest appeal of building a fully custom home is that, as you may have guessed, it is fully customized to your liking. Building a custom home removes the element of having to settle for something that already exists and puts you in complete control. With a custom home, you can choose where it’s located, how big it is, how many rooms there are, what material is used for the floors, and so on and so forth. This is a very exciting prospect; it is the perfect opportunity to bring your ultimate dream home to life. Of course, before you put a bowling alley in your living room, there are a few things you may want to consider.
What it costs to build a custom home in Colorado Springs
One of the most important things, if not the most important thing to take into account when building a custom home, is the cost. The home-building process includes a lot of moving parts, so what exactly are the factors that will influence the total cost of building your new custom home?
It is imperative to remember that you are not just paying for the house itself, but also where the house is located. Depending on how much land you need and the specifics of the area, lot prices can vary quite a bit. Location, location, location! Location always has a huge impact on price, no matter where you are in the country. A general rule of thumb is that the closer to a heavily populated area you get, the more expensive the land will be. The average cost of land in Colorado Springs currently sits at around $8.44 per square foot.
Naturally, labor and cost of materials come with any construction project and vary based on the scope of the project. The longer the project takes, the more you’ll be spending on labor, and the more high-end materials you choose to use, the higher the cost. Other fees include design and architecture fees, permit fees, foundation, framing, plumbing, and electrical, as well as interior and exterior finishes.
In Colorado Springs, you can expect the construction of a fully customized home to cost within the range of $260 to $400 per square foot on average. For bigger, higher-end projects, this range can reach up to $500 per square foot.
Top 5 common mistakes people make when building a custom home
1. Choosing the wrong location. Once construction starts, there’s no going back. Make sure you have done extensive research on the location of your new build; you need to be certain the location you choose is actually where you want to live for years to come. This might seem like an obvious point to some, but it is a mistake new homeowners make all too often.
2. Underestimating the budget. If you are unrealistic with your budget at the start, it can lead to some major issues down the line, including having to halt construction entirely. Make sure you are certain about your budget and have it all ironed out. Do not brush off future costs assuming you will be able to figure something out later. As discussed above, one of the greatest advantages of a custom home is that you can do anything you want with it, but realistically, your budget is still going to put a limit on what is possible. Don’t go overboard.
3. Not taking your day-to-day lifestyle into account. Your home should be designed in a way that best suits you and your family. Make sure you are realistic with your priorities and that the design of the house meets your needs. You don’t want to wind up living in a house that looks good on paper, but doesn’t actually work for you in real life. Make sure your plans for the future are taken into account: Will you have kids? Will you have pets? How long do you plan on living there? We all have fantasy dream homes, but sometimes fantasy does not quite line up with reality.
4. Not anticipating any delays. Nobody, absolutely nobody, enjoys delays in construction, but they happen. It is important to stay patient and anticipate that not everything will go 100% as planned 100% of the time. That being said, leave a little wiggle room in your plans during the construction of your home to account for potential delays.
5. Not asking questions. If you have any questions or concerns, we want you to let us know! Again, once construction is complete, there is no going back! Do not hold back if you have any concerns, or even if you just want a little clarification about how something works. There are no stupid questions! Communication is a crucial part of the home-building process.
Building a fully custom home in Colorado Springs is an extremely exciting prospect with a wide range of possibilities. As exciting as it is, it is necessary to plan ahead in order to avoid some very common pitfalls. If you’re ready to begin the process of building your custom dream home in the Colorado Springs area, contact Remington Builders Group today!