It was Billy Crystal who once said, “…you want the rest of your life to start as soon as possible.” Of course, he was speaking of the woman he loves. But these immortal lines still apply to the other love of your life – your dream home!
Now, if a home is indeed forever, then you must spend considerable time planning for it. And if you are someone who doesn’t want to live in a run-of-the-mill apartment, then we’re sure you must have asked yourself this question at least once in your life – how much does it cost to build a house?
To help you find this answer, we’ve outlined a quick process for you to refer to before you start building a new house in Bangalore:
1. Start with the floor plans.
Planning is the key to success – and to no other activity does this rule hold as good as it does for building a new house. Based on the number of rooms you need, the square footage and your locality, try to get your hands on a complete floor plan of your idea of a dream home. After that, find a contractor who can execute your vision. This is the most vital part of your project – finding someone you can trust, who is transparent and keeps you in the loop at every stage.
Get all the pertinent information – like revised plans, cost per square foot, execution challenges and timelines – before greenlighting the next steps.
2. Estimate the cost per square foot.
Once your contractor has picked your project, they will provide you with the constructioncost per square foot. Of course, you should trust your contractor, but don’t take their word as the gospel truth. Do your own due diligence.
Getting the construction cost per square foot is simple math. It is the total costing – including hiring the right workforce, material costs, and since you live in an expensive city, permit fee and interior design cost in Bangalore – divided by the total number of square feet. You may not get it right to decimal places, but a near estimate should be good enough. Compare this value with that of similar homes in the vicinity.
This way, you can figure out if your budget is reasonable or you are going overboard with some unnecessary expenses.
Read More: Buying and Selling Home: Which works best for you?
3. Lock in the style, features & quality.
Your initial home plans with cost to build may not account for these, but style, features, and quality have a significant role to play in determining your budget.
But what do they mean?
Style – This refers to the architectural style of your home. Are you going for a contemporary or a rustic building? You will incur costs in either of the styles. Will your new home be one-story or a duplex? The answers to these will factor in your budget.
Features – Will your roof be a simple terrace or have an elaborate, tiled covering? Curved staircases can add to expenses over a simple one. A rustic home may need a courtyard in the middle. These are some of the features you might want to consider before zeroing in on the budget.
Quality – A home forever should not have to compromise, but you will find yourself constantly walking on the tightrope between costing and quality.From tiles and paints to cabinetry and shingles, there are many decisions ahead of you when you draw your home plans.
4. Plan for permits.
To know the real worth of your home plans with cost to build, you should visit the BBMP office. Ask the officer-in-charge how much does it cost to build a house, and they’ll name all sorts of permits you hadn’t anticipated.
Reserve around 10% of your budget just for the administrative work, such as getting BBMP to sanction your plan or getting approval from BWSSB and KEB. You’re looking at around Rs. 25-30k for Ground + 1st floor to get BBMP approval. It goes higher – around Rs. 60-75k for Ground + 2 or 3 floors.
Be prepared for these costs as you finalize your budget.
Read More: The 5 Best Ways to Go About Buying Your First Home
5. Account for contingencies.
As much as you’ll keep telling yourself that you won’t go overboard – trust us, at some point you will. Situations that you could not have foreseen – such as your site needing conditioning steps, Bangalore’s unpredictable rains, unavailability of a particular material, even change of local administration – can cut into your existing budget.
Make room for these unexpected contingencies in your budget.
6. Talk to an architect.
All of the above costs may have you thinking that you don’t really need an architect. You’d be wrong.
Hiring an architect may be expensive, but trust us – they are worth it. They have their network of people equipped to handle a lot of the problems listed above with ease. They know how to keep the workforce motivated, they can negotiate the interior design cost in Bangalore, and best of all – they can bring your vision to life.
Trust your home with an architect, and you’ll learn soon enough that it was the right choice.
ASK CONTRACTOR BHAI!
At Contractor Bhai, we know how critical pricing is. That’s why, from the simplest repair work to a complete home renovation, we keep all associated expenditures detailed in our costing guides. So, if the question is still running in your mind, “How much does it cost to build a home?” ask Contractor Bhai!
