Building on Your Lot in the Raleigh NC Area
It's The Same House - So Why Does the Price Vary So Much?
Raleigh Custom Home Top Building Questions
"I've gotten bids from a couple of different builders for my new home that I'm planning to build in Chatham County. However, the quotes I've gotten back vary quite a bit. Why is there such a big variance when each builder is working with the same floor plan?"
This is a very good question - and one that will probably come up with anyone looking to build a new home.
Basic Standards are Different with Each Builder
The exact same floor plan can be built with a wide variety of finishes and features, and each builder bids out the plan according to their set of basic standards, which may or may not match what you have in mind.
Just in the kitchen, the differences can be extensive:
- Is the floor vinyl, laminate wood, site-finished wood, or tile? What is the allowance per sq ft?
- Are the standard upper cabinets 36" or 42" in height?
- Is crown moulding included on the walls?
- Is crown moulding included on the upper part of the cabinets?
- What cabinets are standard?
- Are roll-out shelves included in the cabinets?
- Are the countertops laminate, solid surface, or granite?
- Is there a backsplash? If so, what kind?
- Are the ceilings smooth or textured?
- What kind of lighting is included?
A comprehensive bid should include all these details. Ask to walk through a home with that specific set of standards, so that you can see the details - and make sure anything you see is noted in the bid as well. Just because the home you walk through has tile in the kitchen, doesn't mean it's included in your bid unless it is specifically noted.
Compare New Home Bids, Line by Line
Each builder uses a different set of suppliers and subcontractors, always considering a balance between cost and quality.
Builder resources and management costs can vary widely. Take some time to look at each bid, line by line. Compare allowances for items like flooring, lighting, and plumbing.
Be wary of projects with very small allowance amounts, or allowances that are only able to be used at one specific location. An allowance means that you will pay for any overruns, usually before work continues.
Make Sure Your Builder is Familiar with the Area
Also, if the builder is bidding a plan in an area he is not familiar with, they may not be aware of common septic costs, typical well depths, and other costs. Impact fees and building permit costs vary considerably by jurisdiction. If costs for sewer, water, permits, and fees are set up as allowances, and are insufficient, you may have some surprise costs later in the project.
A valid bid should be detailed enough that you know exactly what is going in to your new home at each stage of construction, so that there are no surprises during or after the project.
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Most Up-to-Date Raleigh Market Reports - How is the Housing Market in Raleigh?
Finding Your New Home in the Raleigh Area
Stanton Homes makes it easy! We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!
Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today.
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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of any lot listings, but can work with homebuyers to purchase available lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.
Hi Penny...Thank you for sharing this information.
When working with folks that are looking to buy land and than build we are often asked, "How much does it cost per square foot?". So much depends on the builder and the materials used it is impossible for us to say.
Kate
Kate - exactly. The cost per square foot depends on the size of the home, the complexity of design, the layout, the interior and exterior features, and even the location! We often make modifications to help a particular plan fit a budget.