In America, 23% of families decide to have a fully custom home built to their specifications and needs.
The national average cost of this is around $288,000 – a lot less than many people consider.
If you choose to custom build, not only will you be able to design your dream home, but you can also cut down on the cost of home repairs.
In the first five years that you own your home, this can be a significant saving.
What Is the Cost of Average Home Repairs?
There are a number of variables that go into determining the cost of a foundation replacement.
The cost of foundation replacement depends on what needs to be done, and what kind of damage there is to your foundation.
If you have bought a home that costs $400,000, you should put around 10% of the cost of that property, i.e.$4,000, to pay for annual repairs.
This is dependent on the condition and age of the house, as well as the area that you live in.
In some years however, it is worth considering that the cost of repairs will be substantially more – for instance if you need to get the roof replaced.
Another relevant rule of thumb to calculate the cost of repairs, is that you need to budget $1 per square foot of property every year.
For instance, if the house is 3,000 square feet, then you should budget $3,000.
If the home is in an area that is affected by freezing temperatures, heavy storms and high winds, then the cost will be higher.
How Will Having a Custom Built Home Cut Down Repair Costs?
The majority of custom home builders offer a warranty on the property once it is built.
Experienced custom home builders explain that this period should be five years. If your annual home repairs are estimated to be $3,000, this is a saving of $15,000 over that five year period.
Having this builder’s warranty gives the customer security in knowing that the work on their home is of the highest quality. If there are any unforeseen problems with the building work, then it means they will be rectified easily.
You should also consider that a new build home is unlikely to need any major repairs for at least twenty years.
Building to Your Specifications
The biggest advantage to having your custom home built, as opposed to buying a house, is that you can have it built to your own specifications.
This means that you won’t have to pay for any modifications that might be needed on a used home.
For instance you may want to get the stair configuration changed, or widen the doorways if you are a wheelchair user. Or perhaps you want to install a heating system that is more efficient and ecologically sound.
You are building with a blank canvas, designed especially for you.
Building your dream home means that you can have a house that is perfect for your needs.
Over the years that you own your custom build home, you will be making a substantial saving on the cost of repairs. This is money that you can put by for the future.