by | Nov 30, 2023

Building your luxury home in Andover, MA & the Merrimack Valley Area may be the most significant investment you make in your lifetime. As you prepare to make that investment, you may be wondering what the most significant cost factors will be in your custom build.

This blog post is designed to help you understand the things that will create the bulk of the costs on your new home. Many of these factors are fairly intuitive, but many of our clients have found that it helps to have them listed, in order to start planning and organizing.

If you want to have the most accurate picture of how much it costs to build a home, it is best to schedule your complimentary “Let’s Talk” session so we can learn more about you and your vision for your custom home.

A Word from Our President

Our President shares what typically drives up the cost when building a custom home:

Framing the house, pouring the foundation, and those types of items are generally the same from company to company. What is placed in the home drives the price: custom-made cabinets, high-end countertops, and luxury fixtures are a few examples that come to mind. Building the box is the same time and again, making the box pretty is what drives the cost.

The Five Factors

  1. Size & shape: The bigger and more complex the house’s design, the more it will cost.
  2. Region & location: The price of materials, labor, building permits, and fees vary from area to area.
  3. Land characteristics: Plots located on a slope will cost more, due to grading costs, a dig for a deeper foundation, or the possible necessity of retaining walls to hold the foundation in place.
  4. Green & sustainable elements: “Green” building can have a significant cost impact on the home, too, depending on the particular green elements you choose to include.
  5. Quality of finishes: This is the area where you’re most likely to overspend. The more luxurious your chosen materials, the more your build will cost.

Learn More

As you seek to learn more about how each of these big five factors might play into your costs on your new home, we are here to help you learn and be more knowledgeable about all the different variables that you can incorporate into your new build to create your dream home, on your desired budget.

  • For more on size and shape, as well as the interior elements (such as plumbing and electrical) that will have an impact on your final costs, check out our full document, “How Much Does It Cost To Build A Custom Home In Andover, MA & the Merrimack Valley Area
  • Our blog post about how Norman Builders can provide key insight into how to best select a plot of land, and key points of your build to think through when you consider building on a plot you may already own. Read more.
  • Make sure you also check out our “Luxury Home Design Trends” guide for current trends in luxury design and construction, and to learn more about the best and most on-trend quality finishes available today.
The Top Five Factors That Influence the Cost to Build a House

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