Because our aim always is to make you better-informed buyers, today we'll show you how square-foot pricing often can be misleading.
With subdivision homes the price is based on the same kind of construction being repeated over and over again. This makes specific pricing easier. When a large subdivision of homes is being constructed, the homes within the subdivision often become a standard for home prices in the community. However, when it comes to custom homes and remodels, pricing can become muddled.
Custom homes and remodels can't be priced like track homes. Unlike track homes, custom homes and remodels are usually built only once. Therefore, pricing becomes as unique to a custom home and a remodel as the work that is being performed. Every detail has a bearing on cost.
The types of building materials used can have a great impact on cost. For example, block walls and poured-in-place concrete walls may look alike and do similar jobs but they are not exactly alike. Even though block walls are cheaper, solid concrete is stronger and lasts longer. Overall, poured-in-place concrete is a better buy.
Material quality is another key factor. Wood wall studs that are green (contain natural moisture) have a tendency to twist and bend as they dry out after they are installed. On the other hand, kiln-dried wall studs remain straight and true, before, during and after installation. We recommend kiln-dried studs even though they cost slightly more than the regular kind. Nothing looks worse once the wallboard goes on than wavy walls (a direct result of crooked wall framing material).
Architectural intricacy also has a great effect on cost. Stacking a cube-shaped room directly above a garage can be cost-effective, but two stories of unbroken wall at a point very close to the street can make a home look like a barracks. This can result in diminished curb appeal, and the lowering of the value of the home.
Amenities also have a substantial impact on cost. A faucet for a bathroom sink can range in price from $39 to $1,200. Popular bathtubs range in price from $150 to $4,500. Plumbing fixtures for one bathroom can range in price from $750 to $12,000.
Let's do some math. A bathroom that is 10 feet long and 12 feet wide has an area of 120 square feet. Dividing the area of the bathroom into the plumbing fixture cost gives us the per-square-foot cost of our plumbing fixtures. Using the formula, $750 divided by 120 equals $6.25 per square foot; $12,000 divided by 120 equals $100 per square foot. Thus it can be said that plumbing fixtures range in cost from $6.25 to $100 per square foot for a bathroom remodel. If just one part of the bathroom (the fixtures in this case) can vary in price so widely then it can be safely assumed that square-foot-pricing is not as effective as pricing by the item.
Design is another factor when it comes to pricing. A structure that is 5-feet wide and 20-feet long contains the same area as a room that is 10-feet square. They both are 100 square feet. Take another measurement and you will note that the total perimeter of the rectangular building is 10 feet longer that's 20 percent longer than the perimeter of the square room. This means that the foundation, walls, wall coverings, wall painting and roof gutters will cost 20 percent more on the rectangular house than on the square house, even though both houses are the same area, or square footage.
From now on, prepare an itemized price list before you begin your remodel. Don't be limited to asking: "How much does it cost per square foot?"