It is safe to assume that most people at one point in their lives envision living in their own dream home that could satisfy their needs and desires. And while it is possible to design and build your own home in Ontario, there are some important factors that you should consider before you make the plunge and begin construction. Obviously, the most critical factor affecting your decision to build your own home in Ontario is the cost, but there are other factors that can affect the appearance and functionality of your house as well. In this blog we will list some critical factors for you to consider that ultimately will affect the price of building your home in Ontario.
Key Factors That Can Influence The Cost Of Building Your Home
For individuals living in Ontario, the following factors can affect the construction costs of building a dream home:
Current State Of The Property
The state of your land will ultimately give you a rough idea how much work is required to build your home. For example, land with an existing home will generally be less costly and easier to build on. With vacant plots, however, you have to consider the costs associated with plot preparation, and as you can imagine, heavy machinery required to do the job can be costly.
It is always a good idea to contact your real estate agent so you can have a better understanding of the pre-construction process before you can build your dream home.
Plot Location
Location, location, location! Yes, a cliche maybe, but your plot location can exert a significant amount of influence on the price of building your home. In most cases, building a home on rural land is less costly when compared to building a custom home in suburbs or larger metropolitan areas. Why? Well, it is usually the case that cities are more expensive to build on since they are higher in demand and have stricter regulations which can raise your overall building costs significantly.
Builder And Materials
Another key factor that can determine the overall cost of building your home in Ontario is the builder that you choose for the job. Generally, homes built in rural areas and smaller cities will be significantly less expensive in terms of construction rates.
It is also important to remember that your home’s design, size, and format will influence the cost of the materials needed to complete construction. In most cases, custom homes require specialized materials, so it is important for you to consider the size of the construction which can give you a rough estimate of the building material costs.
So, How Much Does It Cost To Build A House In Ontario, Really?
While the price of a home built in Ontario can vary depending on a number of factors, some estimates suggest that a custom home can cost anywhere from $145 to $265 per square foot, and in some cases even going up to up to $400. However these figures only include building costs, so be prepared for additional costs associated with permits and home construction loan interests.
Contact us today so that we can provide you with more information on purchasing land and building your own home in the province of Ontario.
Partnering with various mortgage specialists, brokers, and having access to exclusive listings and key connections, our team is dedicated to making sure that your home is sold quickly, without hassle, and at the best possible price. Contact us to learn more.
