Ever wondered about the cost of turning your dream luxury home into reality?
Building a new luxury home can be one of the most exciting experiences you can have.
Watching your dream home take shape from an empty lot is thrilling, and can be the realization of something you’ve wanted for many years.
However, before you even get started there are a lot of things to take into account, not the least of which is what it will cost you to create that new house from scratch.
Learn about the cost of building a luxury home in Cave Creek, how to calculate expenses, and where to get the best services for your new home build.
What Goes into Determining Your Cost
It’s very difficult to say what the cost will be for your new luxury home build, as there’s no real average.
Each home is entirely unique and building one from the ground up requires accounting for a number of factors from the land on which you build to the fixtures you put inside.
While the average reported home building costs nationwide are around $297,016, a new luxury house can range from several hundred thousand to over $1 million.
The three major aspects of determining the cost for custom home building are the size of the home and lot, the degree of customization you desire, and your choice of appliances, counters, and fixtures within.
The Size of the Home and Lot
The size of your lot and the building’s footprint will play heavily into the costs of building.
The first step is to add up the square footage for the living space in your home, the total space for each room inside, including the attic, porches, exterior patios, or garage space.
Combine this with the overall size of the lot, and research the average cost of land, labor, and materials in your area to get a basic idea of the core costs.
Your home building contractor can be of help with obtaining these figures, which can vary from neighborhood to neighborhood and even, in some cases, street to street.
Degree of Customization You Want
The next factor in what it will cost to build a dream house is the degree to which you want to customize the build.
The more custom features you add, the more odd-shaped rooms and the like, the more it will cost to build.
If you’re building a home based on a previously-established blueprint it won’t cost as much as if you build one that is completely customized to your tastes and desires.
Choice of Fixtures, Appliances and Counters
High-end appliances, energy-efficient and advanced fixtures, natural stone counters and tiles will cost more than less expensive counterparts, but in the end, they will deliver in durability, appearance, energy efficiency, and aesthetics, so the cost of installation might well offset the cost savings in owning these elements.
Is a Luxury Home Worth the Investment?
When deciding on a luxury home investment, your priorities and situation matter.
While benefits like comfort and prestige are clear, think about your financial goals.
For the wealthy or those valuing opulence, a luxury home fits, showing in top-notch features.
Yet, others may choose diverse investments.
Remember, luxury homes can hold value in demand areas, but trends and economy matter. To invest smartly, consider your finances, goals, and risk tolerance.
If you seek ultimate comfort and luxury, a custom home could be your answer.
Looking for a luxury home building company in Cave Creek? Opt for quality and longevity with high-end appliances, energy-efficient fixtures, and natural stone elements. Contact the home building experts at Peak One Builders & Restoration to learn more. Request a free estimate or call (480) 569-7977 now!
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