One of the first steps in building a home is determining your budget.
For many new home owners the choice comes down to the lowest cost per sq/ft.
There are several problems with this approach.
First no two builders work alike or use identical materials, so the calculation is not always an apples to apples comparison.
Buyers who know something about material costs will factor this in. For example, if Builder A’s standard kitchen cabinets are vinyl- wrapped raised panel doors and Builder B has oak cabinets with flat panel doors, Builder B’s costs are higher.
Costs may also be higher in less obvious ways. One builder may use a 90% efficient gas furnace instead of 78% efficient one; or plastic pipes instead of copper ones.
Even when builders in the same market are consistent in their measurements, their notion of sq. ft. may be different from each others and the buyers.
Most buyers think that this means “useable space”, while builders calculate in terms of the total area occupied by the building. This can make a substantial difference.
Two builders may not calculate cost per sq/ft in the same way when calculating your total price.
Some include only what you can walk on, excluding closets, but counting walk-ins.
Others count two story spaces twice because the entire volume is finished space that must be heated or cooled. On most building plans, square footage is electronically generated by the computer program.
Some take in consideration outside wall dimensions, some inside wall dimensions. Some include garage while some don’t.
Also, sometimes the useable area is measured at the floor level, so that the two-storey spaces such as entry foyers and family rooms can only be included in the calculation once.
Pricing a home per sq/ft is never a guarantee that you will end up in home you expect.
The homebuyer should be very clear on the differences in the materials to be used in their home, and the method of calculation. An experienced builder will be an enormous help.
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