Start A Budget

Before we go to the builders for a proposal (or maybe we’re going to build this ourselves anyway on our own lot??) there is a bit more research to do.

Try a site like www.ontariocontractors.com for some neat calculators and checklists. Sites like this are a goldmine of information, whether you are building your own home or looking for a contractor. If Ontario is not your province, most of the material is still relevant. Remember what I said about the effect of square-footage on cost? Play with their cost calculator for different sizes and styles of home, and you will see what I mean.

If you are going to build this home on your own, you are going to need a budget. So let’s take a few minutes and see what the process looks like.

First of all, it’s unfair to ask a builder or a supplier to give you a quote on a “sketch”. This is the stage where you are going to need full working drawings. These will cost you between $1,000 and $2,500, depending on the size of the project.

Here’s a tip: Builders are often asked to quote on sketches and rough drafts for homes. As a builder, these sketches are loaded with potential problems and misunderstandings, and therefore the builder will weight his quote to compensate for the risk. So that $1,000 you didn’t want to spend on plans could become as much as $6,000.

Check one last time that the SIZE and STYLE of home matches with your PERSONAL BUDGET and meets your NEEDS. If it feels right, go ahead and have plans drawn up and pay for them — stay in control of the process. Again, hire your own drafting service if you can and if the builder will allow it.