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UNDERSTANDING THE COSTS OF BUILDING

A CUSTOM HOME

Building your own custom home is a major decision and a huge undertaking. Our goal is to help you understand the variables and cost implications so you can be confident in your decision, and set a reliable budget.

What is the average price to build a custom home in

CHICAGO AND THE SURROUNDING SUBURBS?

To have a reference point to work from, a 2800 square foot, 4 bedroom house is used as an example since this is the approximate average size of a new construction home built in the Chicagoland area.
 
The cost to build a home like this will vary greatly based on a few key stages and a variety of variables. Let’s take a look at these different stages and what all goes into these costs.

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design COSTS

Variables include the complexity of the home plans to the type of architect or build firm you choose to work with
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construction COSTS

Variables include the complexity of the home, the finishes and fixtures, as well as the quality of the build.
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LOT/PROPERTY COSTS

Variables include the location, demolition, earthwork, utility hookups, and municipality fees.

DESIGN COSTS FOR A 2800 SF HOME

range from $8,000 – $50,000

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COMPLEX-custom-home_floor-plan

THE ARCHITECTURAL PLANS, LAYOUT, & INTERIOR DESIGN

Architectural plans can range from $8,000 to as much as $50,000 or more for construction ready plans. The more specific and complex the design, the more you will likely pay in costs. While you get what you pay for, some builders have design teams with either an architect in-house or a partnership with an outside architect to help mitigate costs and also give more visibility into the costs during the design process. When building a house, the type of project delivery method chosen, whether design-bid-build, design-build, or DIY may drastically affect your costs. 

CONSTRUCTION COSTS for a 2800 SF Home

range from $500,000 – $800,000

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How complex are the design elements, finishes, & fixtures?

Where a simple rectangle home with a gable roof would be the most cost-effective option, most people elect for more stylish features to add to the house including multiple rooflines, vaulted ceilings, lots of windows, and a more complex shape of the home. The largest variation on the inside of the home will often be seen with the selections that are made such as the appliances, cabinets, counter tops, flooring and fixtures. Last but not least (and often overlooked) is the quality of the home build, as well as the experience, provided delivering you your new custom home. There are huge differences in the quality of the homes different custom home builders construct and there are also huge differences in how good of a job they can do to deliver on the promises they made. As the old saying goes, “if you think it’s expensive to hire a professional to do the job, just wait until you hire an amateur.”

lot/property costs

RANGE FROM $150,000 – $500,000

acquiring

ACQUIRING THE

LOT

demolition

DEMOLITION &

EARTHWORK

utilities

UTILITIES &

HOOKUP

municipality

MUNICIPALITY

FEES

The cost of a lot in the Chicagoland area can vary due to desirable areas with good schools, close proximity to public transportation, and highly sought after amenities. Any combination of these will drive up the property value.

Additional Lot Development Costs range from $60,000 – $140,000

Lot development costs can consist of everything from the permitting costs to municipal requirements such as needing fire sprinklers or a serious water dissipation system to the lot prep needed like demolition, tree, clearing, or any sort of remediation. Soil conditions, as well as the location of utility hooks-ups, can also play a major factor in these costs varying.

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LEARN MORE ABOUT BRIGHTLEAF’S PRICING AND PROCESS FOR BUILDING A CUSTOM HOME

Download this free 24 page eBook to see our starting costs on building a custom home ranging from 1,600 to 4,000 square feet. Dig deeper into our standards, warranties, and what to expect when building your custom, green, healthy home with us.
DOWNLOAD YOUR FREE GUIDE

When all is said and done, the final cost of a 2,800 sqft custom home would cost around....

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WHAT CAN BE DONE TO CONTROL COSTS? 

With all these different considerations and variations in price, how is it possible to have any control over the budget of your new home?  One solution is to work with a custom builder that can guide you properly through your new home build so you can be aware of the different costs each step of the way. 

 

BRIGHTLEAF’S PROCESS and helping CLIENTS CONTROL COSTS for building their own custom home with us

At BrightLeaf, we have built our company around being the ultimate solution to get you in your custom home. We provide expert assistance to guide you through each phase of your project to allow for a superior experience and have an understanding of costs along the way. 

 

  1. Whether it’s helping you find and assess the perfect lot for your build or analyzing your current lot to understand the costs associated with building on it, our team of real estate experts can provide you with the information you need. 

  2. All of our design work is done in-house, with an innovative “one-stop-shop” process that’s more efficient, keeps you informed, and allows you to understand cost implications of what is going into your home in real-time.

  3. We pair this with access to our online project management platform, which tracks your budget, lets you see your timeline, approve options & selections for your home, see status updates throughout the build, and constantly keeps you in-the-know of all aspects during your home’s creation.
Contact us about designing your custom home  Sit down with our team of design and build experts to learn more about each  other and how to bring your vision to life. contact us for a free design consultation

Related Blog: What is the average price per square foot to build a custom home?

What’s missed in pricing per square foot is being on the same page about what all of the costs are that go into defining this number.
If you take into account the endless amounts of options when building a custom home along with development costs like permitting, demolition, and land development, the price can vary greatly from home to home and neighborhood to neighborhood.
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