Browsing for houses is a simple click away, but landing your dream home is not. If you are thinking of buying a house, you know that there is a wide array of features and criteria to keep in mind such as location, layout, size, and, most importantly, price. Although buying a house is a huge investment, for anyone wishing to land the home of their dreams, a good place to start is learning about available options.
Things to Consider When Building a Custom Home
While many questions arise when you are exploring custom home possibilities in Toronto, the following few are the main ones to address:
- How much does it cost to build a custom home in Toronto?
- How long does it take to build a custom home?
- What are the advantages and disadvantages of building a custom home?
- What are the hard costs of a custom home?
- What are the soft costs of a custom home?
Understanding the Custom Home Cost Breakdown
Even though we would like to think one cannot put a price on “the perfect house”, the cost is usually the number one concern for most prospective buyers. Nonetheless, before we discuss the cost of a custom home in Toronto it is important to understand the industry lingo to help narrow your options down.
First of all, custom home costs typically encompass the following:
- Hard costs: These are a set of fixed prices that are already calculated in a housing contract. Hard costs include fixed labor and materials, as well as structuring and all house utilities.
- Soft costs: These costs are not fixed and are primarily based on variable factors that differ from one house to another and from one buyer to another. Soft costs include additional engineering and legal fees, post-completion house maintenance, and finally insurance.
What Is a Standard Custom Home Cost?
The general Torontonian consensus for custom housing calculations uses square footage to determine the total price. So, regardless of the fact that soft costs present more leeway in a house’s total cost, if you are considering investing in a custom home, you are looking at an estimated baseline of $200 – $400 per square foot.
Get in Touch
Still on the fence? Well, this is where Odima Construction comes into play. We are builders with a long history of experience, quality, and reliability, so if you are looking for fantastic offers, contact us at (416)-839-3433 or book a consultation to speak with a skilled professional.