5 Hidden Construction Costs : New Home Build 2021

Construction in 2021 looks a lot different than anything in the past. Materials and labor are unpredictable at best, costs are variable, and demand is high. Today you have to be just a bit smarter. Estimating a construction project is no easy task under normal circumstances. I am going over the cost that we have on this spec project. When we think of estimating for a construction project we think of normal materials, labor; maybe some selling costs. The costs that tend to be unexpected are these five holding and risk items.

When settling on the final cost for a renovation or a new construction project, it's important to consider the time period that the construction will take place in. This could be six months to a year and a half, the normal cost of owning a property still apply during this time. The city is not going to stop charging taxes, and the grass is going to keep growing. When it is cold outside a project must be kept warm with temporary heat. When it is hot, a bit of AC will protect the materials and workers.

Accidents on site are bound to happen. If a broken window or scratched stair tread is the only issue that the project cost has to float, you're doing much better than average. A 1% allowance for errors and mistakes can be a good rule of thumb for a safe budget.

Taking on a renovation or a custom home build involves an incredible amount of decision making and planning. I aim to deliver value by showing how the process works, including the cost to build a house in 2021. Learn from what is shown. Leave a comment with any questions for future topics.

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