The new exception to the accustomed rule
While most people are familiar with the general rule of thumb for estimating the cost of building a new, finished cottage as one hundred dollars per square foot, it may no longer be a reliable determination.
The rising costs of materials and supplies has rendered the need for a new formula for estimating new build costs that maintains the level of finishing included in the former.
The new golden rule for build costs is one hundred and fifty dollars per square foot.
As a comparison, if the house or cottage will be one thousand square feet, the estimated cost of the build using the old formula would be $100,000 dollars and the estimated cost using the new formula would be $150,000 dollars.
The finishing included in the new formula applies to:
+ Wooden siding
+ Better quality doors and windows
+ 30-year shingles
+ Hardwood flooring
+ Tile bathroom floors and showers
+ Upgraded cabinetry
+ Wooden trim and detailing
When planning for your build project, it is a good idea to establish the size of the cottage or house and the finishing you want so that you can set a realistic budget, which a good project manager or contractor can ensure you remain within to get the cottage or home that you’ve been dreaming of.
Check out our Success Stories and read how Cedar Winds helped other clients build their ideal cottages on budget.