The largest municipality in Missouri is Kansas City. Agriculture and manufacturing industries were once heavily dependent on the country, but now it’s largely reliant on finance, telecommunications, banking, and the service industry. Due to its growing community, the city also attracts businesses and families.
As a result of the limited housing supply, prices are continuing to rise, and more people are building new homes. Construction permits for new homes are expected to be requested more frequently as demand exceeds supply.
It costs around $100 to $155 per square foot on average to build a new home in the United States. The average cost of building a house in Kansas is $120 per square foot for a value-conscious buyer. The square footage cost would be between $123 and $163 for a more customized project.
Homebuilding involves a variety of factors that can either be categorized as hard costs or soft costs. The hard costs of building a home are all the physical aspects of construction, such as framing, plumbing, and roofing. Architects and designers are among the soft costs of the project.
Let’s take a closer look at a few of the costs behind building a home and the pros and cons of your dream home construction project.
Hard Costs
The cost of roofing, which can reach $15,000, should be taken into account when calculating pricing. The cost of a basic 1,500-square-foot roof is around $7,000; it typically costs $3 to $6 per square foot. However, it is possible for a roof replacement in Kansas to cost as much as $20,700, depending on the size of the roof and the quality of the shingles. Other essential hard costs include:
- Electrical services can reach up to $1,145
- HVAC Installation can reach up to $2,065
- Foundation Pouring can reach up to $4,500
Soft Costs
A soft cost is one that cannot be seen or touched during the construction of a new home. Architectural and design fees, permitting fees, and land costs are the most common soft costs.
You can find information about Kansas permits on the local government’s website. On the website, potential homeowners can apply for building permits, express plan review applications, and learn about solar panel permits.
Costs of design services are generally determined by the price of construction in Kansas. In most cases, architectural firms charge up to 15% of the total cost of construction; however, some homeowners may find a firm that charges less for basic plans.
Pros of Building a Home
No Competition
There is a lot of activity in the 2022 real estate market. It doesn’t take long for most homes to sell. To find an existing home at the best price, you have to compete against other buyers. Competing bids won’t be an issue if you own the land you intend to build on.
Customization
From the design layout of flooring, cabinets, sinks, lighting, and doorknobs, you can build a house that suits your lifestyle and tastes. In tract homes built within subdivisions, certain finishes, flooring, and colors can be customized.
Energy Efficiency
The latest energy-efficient systems and materials are commonly used in new homes, which can result in lower long-term energy bills.
Minimal Maintenance
You won’t have to worry about maintenance issues for years since new homes are built to meet current building codes and have the latest technology. Your roof won’t leak or your HVAC system won’t fail. There were no previous owners, so you won’t have to worry about finding the last owner’s DIY repairs.
Cons of Building a New Home
Long Project Timetable
A new house typically takes seven months to construct, not including the planning and approval phases. It takes just 48 days to close on an existing home. Until your new home is ready, you’ll have to pay for somewhere to live. You could be saddled with several months of rent or mortgage payments if you’re building. There is no way to predict the finish date of your home-building project. Projected timetables are often much different as the project draws to a close. It’s not unusual for original deadlines to be extended.
Additional Negotiation
The majority of buyers hope to reduce the price of a home when they purchase it, which is common in the resale market. However, with a newly built home, there is usually little room to negotiate closing costs or the purchase price. That is, unless they come up with a creative way to negotiate. Nonetheless, if you buy an existing home, you’ll probably be able to get more value for your money.
Construction
Noise and messes might be a problem if you build a house near a new home development. As other homes get completed, things will eventually quiet down, but it’s something to consider if you have a low tolerance for noise and mess. Not only will your project disturb your neighbors, but future projects will also take away from the peace and quiet that you desire.
Stress
The process of building a house involves selecting a home design, acquiring land, choosing fixtures, flooring, countertops, cabinets, interior trim, and more. All of this must be done within your budget. It takes a lot of effort and time to manage all the details involved in building a house. You’ll need a lot of stamina to make sure everything goes smoothly. It can be challenging to have so many details to take care of and handle project emergencies as they come up.
Hidden costs
Appliances, fixtures, and countertops cost more than you might think. Depending on the contract price, upgrades and unforeseen problems can quickly increase the cost of your new home. Prepare your budget to cover those unexpected expenses with cash. Remember to factor in landscaping and blinds after the move.
The city of Kansas City should be on your list of ideal destinations if you are trying to decide whether to build a house or buy one. Due to an increase in housing demand, there is a shortage of existing homes to choose from, which has made it harder than ever for potential buyers to find one. There is no doubt that many families are considering the possibility of building the home of their dreams.