For most people, the most exciting part of building a new home is the opportunity to make selections and design it exactly how they want! From flooring to lighting, appliances to countertops, the options are endless. What kind of budget are you looking at, though? When customers have a hard time getting a game plan together for their new home, it’s usually because they have no clue what kind of money they are looking at spending to incorporate all of those great ideas into their project. We’re going to try to make that a little easier… starting now!
Keep in mind; all of these are average numbers. If you’re looking to build a new home, what you want is ultimately what affects the bottom dollar. This article is simply to help our customers get a ballpark idea of what they may be spending on any particle option so that they will be better equipped when planning their new home design.
One of the biggest design selections for a customer is cabinets and countertops. For an average size home (2000-2500 sq. ft. heated), you’ll want to set aside at least $8,000 for cabinets (that’s being very conservative). Obviously, this can vary drastically depending on the amount of cabinet space a floor plan calls for. Another thing to think about with cabinets is upgrades. Upgrades are limitless when it comes to cabinetry. Paint (instead of stain), adjustable shelving, elaborate trim, even certain sizes all constitute as upgrades when it comes to cabinets. You can easily take a base price and add $5000 or more, depending on what you’re looking for. Countertops, while they may not be as complicated concerning upgrades, range in price quite a bit as well. Granite, being one of the most popular options today, can run as low as $35/sq. ft. for remnants to $70/sq. ft. and more. When you’re figuring stone countertops, consider the number of sink cutouts in your home. These can run up to $350 apiece and drastically increase your cost.
For appliances, consider what features are going to serve you best. For instance, if you’re the holiday host, you may be interested in a double oven. Do you prefer gas or electric? Will you be bringing your current refrigerator with you to the new home? All of these factors can affect cost. For budgeting purposes, consider entering $1500 in for a basic electric appliance package (smooth top stove, microwave vent-a-hood, and dishwasher). Add about $1200 for a refrigerator if need be. That should give you a good starting point, and you can upgrade as you see fit.
Lighting is one of the most popular selections among customers. Good lighting can make a home! It can also get expensive, though. Lighting may be one of those areas you really want to splurge. If that’s the case, you can very easily purchase a chandelier that costs as much as an entire base lighting package. Again, for budgeting purposes, consider putting in about $2500 for a base package. Then add all the extras you want. Don’t forget, can lights are a popular choice, but if you’re looking to run them as secondary lighting throughout your entire home, they can add up pretty quickly.
Hardwood flooring and ceramic tile are two of the most popular flooring options. I would figure about $6/sq. ft. (material and labor) for hardwood floors. For ceramic tile, you’d be safe staying in the $4.50/sq. ft. range. These prices will give you a reasonable allowance to purchase a wide range of flooring. If your flooring budget looks a little higher than you like once you figure it, you may consider scored and stained concrete in your home. It can be done significantly cheaper ($2.75/sq. ft.) and can be easily laid over down the road if you change your mind.
Lastly, let’s look at some exterior design… landscaping. Typically, we provide our customers with anywhere between $500-$1000 allowance for their new homes. To really give your home that mature and distinguished look, you’ll want to be very selective with your choice of plants. Trees at the corners of the homes should be about 1/3 the height of the house, plenty of evergreens should be planted to fill the voids, and flowering plants should be layered to add color. If you’re a big outdoorsy person and this is where you want to spend your money, you shouldn’t have a problem using that $1000… and more. A lot of customers, however, choose to save in this area at the time of construction and really “beef up” the landscaping the following spring. If that’s your preference, a smaller $500 allowance should be fine, providing you a few yards of mulch and some shrubs to add a little character.
Taking these numbers into account, let’s assume you’re building a 2000 sq. ft. home for $200,000. These options can account for roughly $31,000 worth of the project. That’s 16% of the total cost, and that’s being fairly conservative. Design options play a vital role in the cost of a new home. We want our customers to have the homes they dream of. That means providing you with the resources you need to plan for that new home! Hopefully, this will give you a good starting point for figuring the costs of your future home; and when you get ready to build, give us an opportunity to work with you! Learn more at www.gustafsonproperties.com.