How much will my project cost?
The true cost of a project is best determined by a General Contractor preparing an estimate from a set of detailed construction documents.
There are some things that we can do to estimate the cost before then.
Price Per Square Foot
This is the most common “rule of thumb” way to calculate the cost of a project and it gives you a good idea. As of this writing, typical costs per square foot range from $350 - $500 for a basic or mid-range project. Higher end finishes, materials, or features can easily take this to $750 or even $1,000 per sf.
Things that affect this cost:
Site conditions. Flat lots are simpler and easier to build on than hillside lots, for example.
Renovations. Renovations raise the complexity of a project because the existing structure must stay in tact and often brought up to code, while at the same time trying to insert new elements into it.
Raw Materials. Due to supply chain issues, scarcity, or even stringent building codes, material costs have steadily risen over the years.
Finishes. There is $2/SF tile and there is $35/SF tile. The same goes for almost every material used on the inside or outside of a home. During the design process, we help evaluate the options that best fit the budget while meeting the design intent.
Labor Costs. Labor costs in CA have risen everywhere and construction is no exception.
How cost estimate is refined during the design process.
At the beginning of a project there are numerous unknowns so a cost estimate can be vary from the actual cost by as much as +/- 25%. As the design progresses from Schematic Design to Construction Documents, the estimate becomes more accurate.
The reason for the cost estimate varying at the beginning of the project, is due to the fact that many things are unknown and undecided. Some examples?
What structural system will be used? What kind of foundation?
Is the roofing material something “off the shelf” or more unique?
What manufacturer will supply the windows and doors?
Will this be a “smart home”?
What level of finishes will be used? Basic level or Luxury level?
