These days, more and more people are considering the possibility of purchasing land and building their own home vs. buying a built home.
There are many benefits of a custom-built home, like having the opportunity to design your dream home just the way you like it.
Like any project, the cost is a big factor and will determine whether this is a feasible project to embark on. So, how much does it cost to build a house in Ontario? Let’s look at some of the key elements.
Cost to Build a House
The cost of building a house in Ontario depends on a number of factors – one being the location of your new home. Where you choose to build will affect the cost. We’ve listed the average cost of building a house per square foot in two major cities in Ontario:
- Greater Toronto Area – $165 to $260
- Ottawa – $125 to $205
The above estimates are based on the Altus Group 2022 Canadian Cost Guide.
How Long Does it Take to Build a House?
It’s difficult to give an accurate timeline because there are many different elements that will determine how long it takes to build a house.
You’ll be working with several different contractors and subcontractors, and the timing has to line up so everyone will be available for the project when they are needed.
Many times, projects are stalled because you’re waiting for the availability of a particular contractor or subcontractor. But typically, building a house takes anywhere from 10 months to 16 months. This is if there are no unexpected delays.
This timeline is specifically for building the house and doesn’t include the time needed to demolish an existing home or downtime due to bad weather conditions.
Reduce Costs to Building a House
There are some ways you can cut down on the cost of building a house.
Choose Home Designs
Choosing a pre-existing home design is cheaper than implementing a custom home design. Hiring an experienced builder can give you access to some of their pre-existing design concepts that can help you cut down on the amount you spend.
Define Your Budget
The size of your budget is going to determine what is realistically possible for your custom home. You need to know what you can afford and what is beyond your budget.
Keep in mind that you do need to give yourself a little cushion in your budget because construction projects often experience some unexpected costs along the way. To avoid financial strain, get estimates for everything to determine what your budget can accommodate. Then, if you have extra money, you can upgrade your choices.
Consider Lifestyle
There are many nice-to-haves when you think about custom homes. But think about what choices are best for your custom home based on your lifestyle. Are you hoping to expand your family? Do you frequently have guests from out of town? Asking yourself these types of questions can help you determine what your top priorities should be for your custom home so you do not waste money on things you have little use for.
Save on Aesthetics
The finishing touches you add to your home will affect the cost drastically. If your budget is tight, consider going with options that are more affordable. High-end finishes are beautiful but costly. And in many cases, you can get a similar look for less money. Opting for some of the less affordable options that can give you a similar look is a good way to reduce your overall costs.
Get Quotes
Shopping around to find out what services are available to you within your budget is a great way of determining whether the project is affordable. Get quotes on every aspect of the project including how much the contractors will charge and the cost of materials.
Contact Us
If you are thinking about building a custom home in Ontario, Aria Build can help. We are experts in building custom homes and we’re here to help you with all your custom home building needs.
