Are you planning to build your dream house? If so, it is really important to estimate the cost of your dream house so that you will be ready in terms of financial matters. Knowing the estimated cost of your dream house can help you prepare for anything that comes your way during the budgeting process.
Here are some Tips to Estimate your Dream House:
1. Decide your floor plan. Your architect or draftsman or builder/designer will help you to do a floor plan for your house depending on your lot area. The floor plans will know the size and features you want in your new home. Once you and your designer finalized the size of your plan, your builder should be able to tell how much per square foot they charge for a new home construction like yours. Like for instance, let say the size of floor plan is 68 sq m. and the cost per sq m is Php 20,000.00. The cost of your dream house will be Php 1,360,000.00.
2. Know your type of finishing you want such as the style, quality, and features. It can includes the brand of your paint, the type of flooring and roofing materials, or whether the interior design will be included or not. These should not be overlooked when determining the cost of your dream house. You should know what actual materials to be used on your house that includes flooring, paint, insulation, shingles, roof type, cabinetry and built-ins, doors, and windows.
3. Save for contingencies expenses to your house construction budget. Contingencies expense includes delay of work due to weather condition, design modification, manpower disagreement, etc.
4. Add budget for house plan as well as permit fees for house construction. Here in the Philippines, the cost of house plan for bungalow or one-storey house is between Php 15,000 to 25,000 depending on the design while for two-storey house range to Php 25,000 and above. Permit fees is depends on the location.
5. If you are the one who is planning to supervise the construction of your dream house, estimate the cost of labor such as trussing and roofing cost, electrical works, plumbing, painting, masonry works, etc. so that you have an idea how much budget you will keep and save.