The cost of new home construction can definitely break the bank. There is a price tag for every addition, even if it’s small. And when mistakes happen, the amount of money to shed can even go higher. Don’t let your dream house become your worst nightmare by preparing for the expenses ahead of time. Below are some of the things that can make new home construction costly, as they take a large percent of the budget.
It is no longer a surprise that framing is the most expensive when it comes to new home construction. You need a lot of wood for your walls and trusses, and this does not mean just any type of wood. Using good quality wood is a primary requirement of framing.
Building the foundation is also another expensive part of home construction. Before you could begin the framing process, you first need to dig and excavate the lot to provide room for the frame. After building the foundation, you need to backfill the lot to ensure water is kept away from the house.
Plumbing, electrical, landscaping
The costs of landscaping, electrical installation, and new plumbing construction in Utah are almost of the same value, says Beehiveplumbing.com. With these three alone, you can pay up to $33,000 for an average construction. Roofing, painting, flooring, and HVAC are additional expenses.
You need to have the necessary permits before you can begin the construction. Needless to say, permits are not for free and permit fees are different in each state. However, in Utah, fees are calculated according to the Uniform Building Code. Normally, the size and complexity of the construction determine the amount to be settled.
Hiring a general contractor or home builder is not cheap either. Remember that GCs hire laborers and get subcontractors to do the job. In general, the cost of hiring a general contractor is somewhere between 10 and 25 percent of the total cost of the building project.
Many other things can cause the cost of home building projects to skyrocket. To cut on expenses, careful planning is essential to avoid mistakes. Also, learn that there is a difference between your needs and your wants.