How much do custom built homes cost?
The cost of custom homes is expressed in “price per square foot” variables. For instance, a 1,500 square foot home at the rate of $300 per square foot would result in a total of $450,000. This sum includes items such as building permits and architectural fees, but it does not include land. The “price per square foot” in the Greater Toronto Area ranges from $200 to $400, averaging at approximately $250.While these costs associated with Toronto custom homes may seem intimidating, you can rest assured that our experts will work closely with you to reduce your costs as much as possible. It may even be the simple question of substituting unconventional materials for alternative options that could save you thousands of dollars.
Are custom built homes more expensive than buying?
Yes – Toronto custom homes will typically cost 20 to 30 percent more than purchasing either a new home from a builder or an older home in your neighbourhood. However, this “premium” allows you to have exactly what you want, from custom fixtures to accessibility features and everything in-between. Because every element is brand new, a custom built home will ultimately be valued higher due to its superior energy efficiency and enhanced curb appeal.
How long does construction take for custom homes?
New home construction can take anywhere from several months to a year, depending a number of factors including the size of the home, how intricate the custom features are, the location, and the time of year. Toronto custom homes face the unique challenge of Canadian winters and our professional team is experienced in working in all seasons to exceed client expectations. Keep in mind that the planning phase alone often takes months, because it requires ongoing discussion with you as the homeowner regarding your needs, preferences and available options, as well as inspections, acquiring relevant permits and much more.
Do custom homes in Toronto need home inspections?
Yes – in fact, an inspection is one of the most important aspects of the entire project. During the initial planning process, a detailed inspection performed by our in-house professional will help determine the budget based on the project’s individual characteristics and allow us to move on to the design and construction phases.Once the building phase has begun, an inspector serves as a guide for a smooth construction process, pointing out any deficiencies that require immediate attention. Although we guarantee unsurpassed workmanship and overall customer service, there is always the small margin of human error that must be accounted for to ensure a perfect end result.
What should be in a new home construction contract?
A custom home construction contact, commonly known as the Agreement of Purchase and Sale, is a legally binding agreement that includes all of the elements that had been discussed throughout the initial planning process. This contract will typically include descriptions of,
- The prospective home
- What is and is not included in the “price per square foot”
- Extra features requested (if applicable)
- Allowances regarding the steps to take if the completed project goes over or under budget
- The construction schedule
- The agreed-upon payment schedule
There are numerous other crucial elements to ensure a smooth process from concept to completion. We will go through this contract with you in detail, providing you with a complete understanding of each element of your custom home construction and preventing any surprises along the way.
Why Choose Icon for You Custom Home?
Choosing Icon development & Construction for your new home construction means that we will work not only for you, but with you every step of the way. We have a specially selected team of custom home construction specialists – from project managers and sales consultants to designers and custom home builders – in order to ensure that we have full control of the project and the most important thing we will need is your input on every aspect of your new home.
Looking for inspiration?
Check out our most recent custom homes. It’s no coincidence that every design element has been incorporated with perfect precision. Not only do we help you create a fully customized layout but we are also available for post-completion advice on incorporating a series of custom features for a harmonious effect.
If you would like to experience the difference of working with the top custom home builders in Toronto, contact Icon Development & construction for a free quote on all of your new home construction needs!