Well, the thing about building custom is that it’s completely unique to you, so depending on your choices, this answer can vary widely.
To give you a general ballpark, most homes fall between $350-550 per square foot (not including the lot), but you should consider a few factors before building your budget around that.
The Size of the Home
Small and big houses both need a kitchen and bathrooms. While the size and number can vary, the bulk of your budget is spent in these rooms.
When most homeowners add square footage, it’s usually in additional bedrooms, larger living rooms, or big hobby rooms—all of which typically cost substantially less.
This means a small home may have a higher price per square foot simply because it still needs those high-value rooms.
Often overlooked in the square footage model is the price of permits, utilities, and material transportation.
When your new home is quoted, we account for all of these things but they can vary by municipality. Building in an existing community in Calgary has a different process and costs associated with it than building in a new estate neighbourhood in Airdrie or Cochrane.
Your cost will fluctuate depending on the level of features and finishes you choose. The areas you’ll see the most variance include cabinetry and custom elements like large walk-in closets, high-end quartz, fireplaces, stone feature walls, and more.
Each person’s definition of luxury is different, so it’s best to have your specific wish list considered. If you’re unsure where to start, share your list with us. We’ll review it and let you know what’s possible within your budget.
We’ll be honest; if you’re looking to build a custom home, it’s not likely for sale within the first year of being built.
At Melanson, we don’t do quick flips or builds to get homes on the market as fast as possible. Instead, we do quality work that considers your lifestyle, so your home feels like it was built just for you–because it was!
That being said, pricing your new home within your neighbourhood’s range is wise, and we will advise on this. For instance, if all of the homes within your community are similar square feet and priced within a specific range, you’ll want to build yours comparatively.
If your street is undergoing redevelopment, follow suit and keep your home within the comp set. You have some wiggle room to build it a little nicer or a little less, but you’ll want to be close so that if you consider selling years down the road, you get your investment back.
The Better Way to Price Your Home
While this advice may seem indistinct, there’s a better way to price your new custom home.
Figure out what your budget is first.
We’ll work backwards from there to find you a home that fits your needs. Within that, we’ll consider:
- The size home, including how many storeys, bedrooms and bathrooms you want
- The features like a chef’s kitchen and pantry, double walk-in closets, or others
- The level of finishes, whether it’s quartz or granite countertops
Our team is skilled at helping you find a balance between your budget and the home inspiration you’ve saved and dreamed about for years.