If you are thinking of building a new home, you may have often wondered, “How much will it cost?” You probably may have, what you believe, is a good quote from a builder. However, that is just a part of the overall cost. Arriving at the actual cost of building your home may be far more complicated because there are hidden costs that need to be considered. The hidden costs of new construction can blow your mind. Let us take a look at some of these hidden costs.
1. Site preparation
You may be dreaming about the “move-in” date; however, before construction can even commence, your building lot will need clearing and grading, with special attention needed for site drainage, which is an essential and integral part of the groundworks carried out on the site to begin the above ground construction and also avoid water clogging at the construction site. If your planned home has a basement, there will be a requirement for excavation. And surely, water and power lines need to be laid and immaculately connected to your home. Moreover, there is always a risk that your builder may encounter large rocks after they begin digging. Because it is almost impossible to know what lies beneath the soil, the expense to remove these obstacles falls to the homeowner. Before the rolling of heavy equipment, be crystal clear as to who is responsible for all these known and unknown expenses.
Several new builders include both front-yard landscaping as well as landscaping in the backyard. Talk to your builder and get down to the specifics of their landscaping policy. Pose questions regarding what is included and what is not: fences, decks, pathways, shrubbery, trees, driveway. If not, make it a point to set aside sufficient money to add everything you need so that you do not have to compromise on the safety or luxury of your home.