So, how much does it cost to build a custom home in Regina? Well, if you came here looking to get an answer to that question, you’ve reached the right place!
The dream of building a custom home can be more appealing than just buying one. The housing market can be limited when it comes to finding the best fit, the population growth rate of Regina making house sales happen in a flash in the past few years. Among other things, a custom home means you get to decide on the style, size, specifications and amenities that perfectly meet your needs, price preferences, personality and lifestyle. A custom home can also provide more overall value.
Now, the cost of building a custom home can vary greatly based on multiple factors. These home cost factors include the size of your new house, the architectural design, the finishes you want your home builders to include, and even the property location and legal fees.
In this article, we’ll answer the common questions and factors involved when it comes to the construction cost of custom home building, as well as what we can do to help you reach your goals.
Can You Get a Mortgage to Build Your Home?
Yes. You may be able to access Self-Build and Home Construction Mortgages to finance the cost of building your custom home. That being said, such house loans don’t usually include the cost of the vacant land.
Generally speaking, you need to have a down payment ranging between 25 and 30 percent. The construction loan is only intended to cover the price of the building itself and the costs to build it. The interest rates and terms on such loans vary from one lender to another.
Basically, the two types of construction mortgages are completion mortgage and draw or a progress-draw mortgage. Speaking to your mortgage broker can help you know which option is best for you.
How Long Can it Take to Build Your Custom Home?
This is a common question when it comes to home construction. The time it takes to build has a vast impact on cost. And just like another common question – how much do you have to pay for a custom-built home? – the answer is “it depends.”
There are just too many factors that have to be considered when it comes to custom home projects. On average, though, it takes anywhere between 10 to 16 months for a custom home project to be completed in a timely manner by builders.
This timeline, however, doesn’t consider many factors such as the additional costs of land clearing, bad weather, delays on materials, and even lack of manpower.
How Can You Reduce the Cost of Building a Custom Home?
This is probably the best thing in regards to constructing a house: you’re able to control the price. The following are some ways in which you may be able to save some money on your custom home:
- Go with pre-designed choices. You can get plenty of floor plans from expert home builders like Leenan Homes
- Build a smaller home. Seems obvious, right? The smaller the square footage of the home you build, the less costly it’ll be
- Save on labor costs. Do you have some DIY skills? If so, consider doing some of the work by yourself. Some easy DIY projects include installation of light fixtures and painting. However, it’s still recommended to go with home builders for the best results
- Go rustic or industrial in regards to aesthetics. Your home style choice will have a significant impact on the overall costs of the project. If you don’t have a particular style in mind, go rustic or industrial, as they can be more forgiving financially
- Consider using recycled or reclaimed items. They are not only eco-friendly, but they can also help add some bits of character, as well as save you construction costs per square foot
How Can Leenan Homes Help?
A custom home is tailored to you and our pricing is equally customized!
Leenan Homes has over 30 years of combined experience in the custom homes and remodeling industry. Hiring us as your home builders means getting a custom home solution that fits your budget and goals.
At Leenan Homes, our goal is to provide our clients with a customized home building experience. As home builders, our superior craftsmanship and attention to details sets us apart and will ensure you get a home that fits your lifestyle and uniqueness.
With extensive experience in the game, there is no request that is too unique for our team to handle. As a matter of fact, we even thrive where there are challenges.
Our Client Process
We use our signature model to develop all our custom luxury homes. We have designed this model to ensure it puts the homeowner first. We’ll work hand-in-hand with you throughout the home buying process to ensure your personality shines even in the tiniest of details.
Step 1: Consultation Meeting
We’ll set up a consultation meeting with you once you hire us to build a custom home. We treat each project uniquely based on your vision, priorities and creativity. Should you not have a vision of exactly what you want, our team of expert builders will help provide you with a wide array of possibilities available.
We hold consultations either in-person, by phone or virtually. Our aim is to make things as convenient for you as possible.
Step 2: Design Phase
After having the consultation meeting, the next step is to begin the design and planning process. We’ll assign a team to you to help put the vision you have on paper.
At Leenan Homes, we strongly believe that the design and planning process is crucial to the overall success of the project. During this phase, it’s normal for a design to undergo many revisions and reiterations which can alter costs to fit your budget.
Step 3: Proposal Stage
This stage presents homeowners with a golden opportunity to ask their final questions in regards to the project. It’s during this phase that you’ll be able to get a comprehensive overview of the project, as well as project timelines and construction costs.
Step 4: Construction
Construction will begin once you’ve signed the contract and the project has been approved. This usually takes anywhere from 6 to 9 months, depending on the plan and scope of the home and land.
Leenan Homes works with the best of the best in the industry, including professional architects, designers, real estate industry experts, and construction professionals. As such, you can rest assured your custom luxury home will meet the highest quality standards with our home builders' help.
So, what are you still waiting for? Get in touch with us to get started. We understand the many costs involved with building a custom Regina home and will give you a transparent view of what to expect. No matter your budget, we can build a home that meets or even surpasses your goals.
Leenan Homes has the flexibility and scalable experience to build your dream home in Regina and the surrounding areas. Our specialty is custom, niche projects that help elevate your custom home and make it entirely your own.