Luxury Custom Homes

Summary: The cost to build a house increases as the quality of materials and the complexity of the home design increases.

 Carl, I recently ran across your site and am looking at building my own home in Bokeelia, Florida (just outside of Fort Myers.)

I am trying to get some rough costs on a home plan called the Santa Rosa, from Slater Design Collection. However, I am having some issues using the building cost calculator.

I am confused on how I should plug in the 1,978 square footage as I will have a full open garage downstairs out of block and then be building off of that a wood framed structure.

I am trying to get a rough idea on cost before purchasing the plans as I want to make sure I fall in my budget area.

I will be doing all framing, interior finish work, building my own kitchen and bathroom cabinets. I will be getting some additional labor to frame the house, as well as will be sub contracting Rough Electrical and Rough Plumbing with hopes to complete these two pieces on my own.

Do you have any thoughts or pointers you could send my way so I could get some rough costs on this particular plan? I am hoping to come in under $200,000 completed with a pool and a $10,000 lot.

Do you think that is doable or should I begin looking at smaller plans? Any help would be greatly appreciated.

Jason

Hi Jason,

This is an expensive home design to build. It is in fact, a luxury custom home. It is extremely hard to estimate the cost on luxury custom homes just using estimating software.

Courtesy of Slater Design Collection

Here are a few reasons why:
  • Multi-cornered foundation (Quality Class 4)
  • Roof design and pitch (Quality Class 1)
  • Large glass areas (Quality Class 3)
  • Many large covered porches and decks
  • High vaulted ceilings inside (and outside) (Quality Class 1)
  • 2 x 6 exterior walls (Quality Class 3)
  • 10 ft ceilings (Quality Class 1)
  • Trey (tray) ceilings (Quality Class 1)
Using the cost estimating software, I came up with an approximate (rough) cost to build of $541,087, Included in that figure are the following:
  • $15,357 Insurance 
  • $9,324   Permits and Utilities 
  • $2,194   Plans and Specs
  • $68,560 General Contractor markup
HOWEVER, building a very simple 2 story, 2,000 sq ft house with an unfinished basement (with garage), the cost to build drops like a rock:

Using the cost estimating software, I came up with an approximate (rough) cost to build of $187,817, Included in that figure are the following:
  • $5,032   Insurance 
  • $3,055   Permits & Utilities 
  • $719      Plans and Specs 
  • $22,465 General Contractor Markup 
That leaves you money for the lot but, no pool...sorry.
Carl Heldmann, byoh.com