Buying Land – $60,000+
The very first step in building a custom home — after deciding that you want to build one — is buying the land you want to build on. Not only will you have to purchase a lot, but you’ll have to have it cleared. This can include, but is not limited to, tree removal, having the land leveled, and more. The cost of purchasing an empty lot will vary depending on a variety of factors, including the size of the lot and its location. Land lots in Fort Collins can vary dramatically depending on where you want to build and how much land you want, ranging anywhere from $65,000 to $500,000.
However, the amount of money you pay can also depend on the real estate agent you have. They are the experts that will help you hunt down and negotiate a deal on land for the perfect location to build your house. They will be able to tell you where to find the up-and-coming areas so you can plant roots in a spot that will make your home more valuable over time.
Site Work – $16,000+
Once the land is bought and you have the contract in your hands, now you need to get it ready for a home. The land needs to be cleared and prepared for a home, which may include hooking the lot up to utilities if it isn’t already. The cost of this will depend on your proximity to utility hookups as well as the city or town that you reside in, largely due to the fact that every area has different average prices for these services, but you may expect it to cost anywhere from a few thousand dollars to tens of thousands of dollars. Additionally, if you are not yet connected to city water or sewer systems, you’ll need to do that as well, which can cost between $1,500 to $16,000.
Once that is done, you will need to acquire a building permit, which will cost somewhere around $4,000 in fees. Plus, you may also be charged an additional $2,000 for an impact fee, which pays for public services like roads, parks, and water treatment in your new community. In this site work section, it would be a good idea to leave at least a $2,000 buffer, if not more.
Floor Plans – $5,000 – $8,000
You can purchase a complete floor plan online, which can range anywhere from a few hundred dollars to a few thousand dollars. You can also choose to hire an architect to professionally create a unique floor plan that best fits you and your interest, but they can be expensive. If you have ideas of certain elements you want in your home but aren’t quite sure how to put it all together, hiring an architect to create a blueprint for your home is probably going to work best.
Hiring an architect can cost, on average, around $5,000, but you should expect to pay more if you have more complex designs in mind.