How Much Does Building a Custom Home Really Cost?
As your trusted GA custom home builders, we receive about 50 inquires a month, and the first thing most people want to know is: what does it cost to build a 3,000 square foot custom home in the Atlanta, GA market? We have been building custom homes in Atlanta for decades, so we know this industry like the back of our hands. So, we’re here to help answer those questions with expertise and insight! The first thing you have to calculate is the square footage
you want. Once you have that, the numbers below give you a good starting point. Read on for your guide to calculating the cost of building a custom home in the Atlanta area!
ADJUSTED SQUARE FOOT CALCULATION:
The first step to building your dream custom home is finding the adjusted square footage of your desired space.
• Above ground finished conditioned space is 100% of actual square feet.
• Basement level finished conditioned space is 40% of actual.
• Garage space is 50% of actual.
• Covered Patios / Porches are 70% of actual.
• Decks are 20% of actual.
So, a 3,000 square foot home with 1,000 square feet of finished basement, a 550 square foot garage and 250 square feet of covered or screened porches will have an adjusted square footage of 3,850.
When it comes to building new construction in the Atlanta area keep in mind:
• Lot costs are typically 30% to 35% of your total budget for a home.
• We find construction costs of $210 per square foot + or – 10%, plus a fixed cost of about $30k for site development costs. (Utilities, Driveway, Fencing, Landscaping, etc.) Therefore, if you want a modern home with flat roofs and steel, you are looking at $240 per square foot + or – 10%.
• Architectural Fee /Engineering Fees are typically 7% of construction costs, depending on the amount of detail you want designed.
• Time to draw plans are 3 to 6 months. Time to permit is about 60 days. Time to construct a home depends on the size of the home, but typically we can do about $70K to $120k of work per month on a home – with a minimum of 6 months to construct a home.
Renovations are a great alternative to building a custom home from scratch – plus it may save you a chunk of money.
• In today’s market, we are finding that in doing large renovations/additions to homes are saving 10% to 20% versus a new home.
• Typically, we see costs for new added space at $210 per square foot. Redoing existing space is about $130 per square foot.
• Architectural Fees/Engineering Fees are typically 6% of construction costs, depending on the amount of detail you want to be designed.
• Time to draw plans are 1 to 3 months. Time to permit is about 30 days. Time to construct a home depends on the size of the home, but typically we can do about $60K to $100k of work per month on a home – with a minimum of 3 months to construct a home.
There is a lot that goes into building a luxury custom home in the Atlanta market, and that’s why it is important to know how to calculate what it might cost you! And when you’re ready to bring your custom home dreams to life, we are your trusted Atlanta custom home builders, and we would be thrilled to execute your goals effectively and efficiently. Let us know what we can do for you!