(Last Updated On: June 15, 2014)
At one point in our lives, we would want to own a home. Some of us would prefer to buy a ready built house while others would rather construct from scratch.
Here are some tips that will help estimate your cost.
1. Get in touch with contractors.
Contractors usually charge per square foot. They charge different rates depending on various factors. Getting one who has built a house of similar size would help you estimate more accurately on how much money you would need. The builders will also give a list containing a breakdown of what you will need.
2. Compare with similar homes in the neighborhood
If you know the price of a newly built home in your area, you can just subtract the cost of land and get an estimate of how much the house costs. Divide the total cost by the total square feet and you will get the cost per square foot.
Seeking advice from a quantity surveyor is also advisable since you don’t want to get stuck in the middle of building since you lack cash.