Things You Might Not Have Considered When Making Your Custom Home Budget

Slab Foundation

The most affordable option, a slab foundation is made of poured concrete. It’s low-maintenance to pour, but makes plumbing fixes difficult since the pipes will be under the slab and tougher to access.

Crawl Space Foundation

A crawl space foundation is built a few feet off the ground. This means it’s better than a concrete slab for plumbing access, and is also warmer, but a crawl space foundation needs be to insulated and conditioned to avoid the growth of mold and fungi — so set aside extra budget for that.

Basement Foundation

This is an 8ft (or deeper) hole with poured concrete walls and a concrete floor. A basement foundation gets you more space at a lower cost per square foot, plus you get energy-efficient living spaces that stay cool in the summer and warm in the winter. But, basement foundations come at an increased cost, especially if finished, plus require even more budget to install proper drainage like a sump pump to avoid flooding.

The Type Of Materials

Take something like ICF (Insulated Concrete Foundation). ICF is about 30% more expensive than standard concrete foundation, but gives you a warmer, more comfortable basement space, plus it’s better value in the long run because it eliminates energy loss and thermal bridging so you’ll save on energy bills.

Extra Stability

Whichever foundation you choose, you’ll have to account for metal or rebar rods in your budget. These will increase stability and are installed according to the Building Code Requirements for the design.

The Shape Of The Home

When it comes to frame shape, simplicity is more cost-effective. The shape affects the roof structure, and a complex roof structure means more cost. So, while angles and corners add character and architectural flair, you will need to set aside extra budget for them.

The Number Of Storeys

The most cost-effective options are a bungalow with a simple roof, or a 2-storey house with less basement space. This is because storey and 1 ½ storey homes require more labour to frame their roof structures, and also have less usable space due to sloped ceilings on the 2nd floor, which makes the framing cost higher per usable square foot.

Square Footage

The amount of square footage will make an impact on the cost to install the framing. More space means more time and materials necessary.

The Materials You’re Using

If you go with lumber framing, be prepared when making your budget for lumber costs to fluctuate. If you go with structural steel framing, expect to pay a little more, but to get a frame which is both more durable and environmentally-friendly.

Additions

If you make any changes to the design of your home after framing has begun, be prepared for an additional cost.

The Shape Of The Home

The most ubiquitous siding, horizontal lap siding offers a range of options. It can be made from wood, vinyl, aluminum, or fiber cement and comes in a range of colours (or, you can choose your own).

The cost also comes in a range of options: vinyl is the most wallet-friendly, whereas fibre cement or prefinished wood require additional budget.

Another thing to account for in your budget? Colour. Choosing a stock colour is less expensive than creating a custom colour.

Shingles

Shingles also come in a range of materials, including vinyl (polymer), cedar shakes, and fiber cement.

Cost-wise, shingles are roughly equivalent to horizontal lap siding, except for cedar which comes at a higher installation price.

Board And Batten

Coming in both natural and pre-finished options, the cost of board and batten can vary depending on the wood species. It requires a bigger investment than both lap siding and shingles, so be prepared when making your budget.

Brick

Durable, beautiful, and low-maintenance, brick is a classic finish for a reason! But that durability and low-maintenance come at a price, so be prepared to build a bigger budget around brick.

Stone/Stone Veneers

Like brick, stone and stone veneers are also durable and low-maintenance. They come in a wide range of colors, textures, and sizes, so are easily adaptable to just about any aesthetic, but expect to pay the most for this finish. While synthetic stone veneers are the more budget-friendly option of the two, connoisseurs say it doesn’t have the same charm as the real thing.

The Number Of Windows

The more windows you need to install, the more it will cost.

The Size Of The Windows

Large windows, while beautiful, may need special glass and fabrication requirements, so make sure to save room in your budget if you’ve got your heart set on massive picture windows.

The Material Around The Windows

The window sash materials you choose will affect the cost of your build, too. Vinyl is the inexpensive, low-maintenance, durable choice, but it lacks the visual flair of the finer finishes. If you’re looking for that ‘wow factor’ wood has a beautiful natural appeal but comes at a higher price. Aluminum-clad wood windows have a best-of-both-worlds approach that’s both durable and good-looking, but also comes at a higher price.

How The Windows Open

Sliding windows
Open the windows by sliding them inside their frames by hand, and choose between horizontal or hung slider. These windows feature weather stripping around the sash and frames, so they’re not as energy efficient as crank windows, but do come at a lower price point.

Crank windows
Open the windows with a crank mechanism, and choose between casement or awning style. These windows feature a compression seal around the moving parts, so they’re supremely energy efficient and easier to clean — which is why they are slightly more expensive than sliding windows.

The Size Of The Doors

While big doors do undoubtedly have a grand impact, they’ll also impact your budget. Expect to pay more the larger your doors are.

The Style Of The Doors

You have the option of lift & slide doors to seamlessly open up patio and/or pool areas. These doors are essentially glass walls that slide and fold away, allowing you to completely open up your space. A beautiful feature, but expensive.

What’s Around The Doors

Steel
Steel doors are low-maintenance when finished properly, secure, and come in a range of colours and styles. In terms of cost, steel doors are the least expensive of the door materials, but expect to pay more for a door with a lower gauge. The higher the gauge, the thinner the steel, and the more flimsy the door. 24- and 22-gauge are the most common in the housing market. 24-gauge is the least expensive, but is prone to rust and paint chips so is not a long-term solution. 22-gauge is thicker, holds paint well, and can have a grain cut into it for a simulated wood appearance — more expensive, but also a better investment.

Fibreglass
Fibreglass doors are versatile in look (including wood grain), resistant to dents and scratches, can last for years without mold or rust, are very secure, and — unlike steel and wood — don’t need to be finished at an extra cost to be low-maintenance. Quality is key, though, and you do get what you pay for, so add room in your budget for more expensive fibreglass options as cheap fibreglass can crack in the cold weather, or the finish may quickly deteriorate.

Wood

Wood is the most expensive material for a door, but you do have two options with different price points.

A solid core wood door, made with a solid wood core with a thin piece of plywood or laminate on either side and a hardboard backing. Susceptible to fading, will have to be refinished, and requires a storm door — but, a good way to get a wood door without breaking the bank.

A solid wood door, is all wood, all the way. It’s by far the heaviest, most secure, and best-looking door, but it also comes at the most expensive price. If purchased from a quality manufacturer, they’ll resist most warping and expanding, plus they can be sanded and refinished with no problems.

Countertops

Classic laminate countertops cost the least, while eye-catching solid surfaces like marble, granite and quartz will cost more.

Fixtures + Plumbing

Fixtures come in a huge range of prices. A faucet alone can run between $60 – $1000 (or more!), which adds up when you take the number of bathrooms (and the number of fixtures you’ll therefore require) into account.

Interior Doors And Hardware

Door materials range from wallet-friendly stock with an MDF hollow core to top-of-the-line, custom-made, carved solid wood. Beautiful, but pricey. Remember, also, that those doors need hardware, which could run between $50-$500, depending on style and materials.

Flooring

If you don’t want to break the bank on flooring, opt for vinyl over tile in the kitchen and bathrooms. In the other rooms, set aside extra budget if you’d like hardwood or carpet on the floors, while laminate is the more affordable option.

Appliances

Save budget by selecting affordable appliances throughout. Or, look at your lifestyle and decide which appliances are worth the splurge: if you cook a lot, invest in higher-end Wolf and Sub-Zero style appliances. If you have kids, perhaps it’s better to splurge on a top of the line high-capacity stacked washer and dryer.

Wall + Ceiling Finishes

Drywall is the best bet for a smaller budget, while wood planking and specialty finishes are best for budgets with more room. As for the ceiling, crown moulding adds a regal touch but does come at a price, as do specialty ceiling finishes like panelled ceilings and coffered ceilings. Beam accents add style to any room, but add cost to your budget, also.

Cabinetry

Cabinets with all the bells and whistles will set you back significantly – so be prepared. Be cognizant of the type of door, the type of pull, whether you are having glass, whether there is crown molding or specialty products – as all of these extra touches can quickly balloon a budget.

Closets

The more complex the storage, the more expensive the closet will be. Walk-ins cost more to finish, especially ones with built-in drawers, shoe spaces, and hanging areas.

Fireplaces

While a fireplace is an extra — especially if you’re budget-conscious — there is a way to get one at different price points if you have your heart set on a hearth. If your budget is on the smaller side, go for a fireplace with a simple mantel and a drywall surround. If you’re ready to invest a little more, choose a fireplace with stone cladding, built-ins on either side, and a fancy mantel.