New Home Tips, Trends, and Ideas - Raleigh Custom Home Builders

How Much Do New Homes Cost? | Orange Vs Chatham County Homes

Posted by Penn Hull on Thu, Oct 13, 2016 @ 13:10 PM

Cost to Build a New Home - Trends in the Triangle Parade of Homes 2016:

What do new homes cost to build in Orange and Chatham County NC ? The Triangle Parade of Homes can be a big indicator of new home construction cost, especially when comparing different counties. 

Where do new homes cost less to build? We've analyzed the data, and here's what we found:

OrangeChathamParadePrice.jpg



 

New Home Prices in Orange and Chatham County

While the Parade of Homes does not represent all new homes available, it can be a good indicator of overall market trends.  

Price Points for New Home Construction

  • In both counties, the $400-600K price range was most popular for Parade of Homes entries, followed by the $600-800K and Under $400K ranges.  

OrangeChathamParadePrice2.jpg

For 2016 Parade of Homes entries in Orange and Chatham County:

Average Home Cost in Orange County: $609,216 

Average Sq Ft in Orange County: 3457

Average Price Per Sq Ft in Orange County: $176

Lowest Cost Home = $339,950; Highest Cost Home = $1,100,000 

 

Average Home Cost in Chatham County: $578,565

Average Sq Ft in Chatham County: 3384

Average Price Per Sq Ft in Chatham County: $171

Lowest Cost Home = $316,510; Highest Cost Home = $1,290,000

 

Why do these New Homes Cost More in Orange County?

The cost of new homes is based on a wide range of factors, from the cost of the land the home is built on to the size of the home and the finishes and features. Generally speaking, Orange County homes can cost a bit more, depending on where in the county you want to live, as land and building costs in Hillsborough and Chapel Hill tend to be a little higher than in neighboring Chatham County.  

DuganExterior6.jpg


What does this mean for homebuyers in Orange and Chatham County?

Parade of Homes entries generally represent what price points builders believe homebuyers are looking for today. 

Find homes for sale in Chatham County, here.

Check out floor plan samples, including top-requested one story, main floor master, and two story plans, here:

One Story, Main Floor Master, or Two Story? |Triangle Chatham Parade of Homes 2016

Find out more about features, cost, and trends in new homes in your area here:

Chatham County New Home Trends

 

These custom homes are move-in ready, or nearly available, in Chatham County. Click the address for new home cost and more information:

Brookhaven Way – 3144 Sq Ft – First Floor Guest Suite – Move-in Ready Home 

129 Brookhaven Way – 3358 Sq Ft – First Floor Master – Under Construction Now

152 Brookhaven Way – 3474 Sq Ft – First Floor Master – Under Construction Now

 


 

This is representative only of the homes featured in the Parade of Homes, and not intended to be a general indicator of the Orange County or Chatham County new home market, though Parade of Homes can be representative of overall trends.  These statistics were derived by Penny Hull from public information about Parade of Homes entries, and are copyright Stanton Homes.  The statistics calculated above represent Parade of Homes entries in Chatham County in the Briar Chapel, Chapel Ridge, Chapel Ridge Estates, Dunhill, Fieldston, The Hamptons, Harrison Pond, Henderson Place at Fearrington, Horizon, Legacy at Jordan Lake, Parks at Meadowview, Piazza at Stonewater, Vistas at Chapel Ridge, Westfall, Westfall Pines, Windfall, and Woods at Wilkerson Creek new home communities. The statistics calculated above also represent Parade of Homes entries in Chatham County in the Briar Chapel, Chapel Ridge, Chapel Ridge Estates, Dunhill, Fieldston, The Hamptons, Harrison Pond, Henderson Place at Fearrington, Horizon, Legacy at Jordan Lake, Parks at Meadowview, Piazza at Stonewater, Vistas at Chapel Ridge, Westfall, Westfall Pines, Windfall, and Woods at Wilkerson Creek new home communities. 

 

Tags: new home cost, cost per sq ft, parade of homes 2016, Chatham County New Homes, orange county new homes, Triangle Parade of Homes 2016, Chatham County Home Builders, orange county home builders

Why do smaller homes cost more? [Top 12 Reasons]

Posted by Penny Hull on Tue, Jul 21, 2015 @ 12:07 PM

Why is it more expensive to build a smaller home?

Home buyers often wonder why it costs more per square foot to build a small home. 

Below are 12 reasons why small homes cost more to build, along with cost-cutting suggestions from a Raleigh custom home builder.  Each of these factors contributes to the overall cost per sq ft of your new home.

Why do smaller homes cost more per square foot?


Small Home Cost Per Square Foot Factor #1

"Footprint" space is expensive.

Build up, not out - bonus room space is often the cheapest sq ft in the house. 

See how your builder can add a bonus room to a one story plan, here.

Why do smaller homes cost more per square foot?

There are two bedrooms and a bathroom upstairs, across from this bonus room - an example from a version of The Scottsdale.

Small Home Cost Per Square Foot Factor #2

Size of kitchen.

Kitchens are the most expensive room of the home - with cabinets, counter tops, hardwood or tile flooring, plumbing, faucets, appliances, and so much more - that makes your kitchen also the most useful room of the home.

If your floor plan has an oversized kitchen, consider balancing out your square footage allocation to reduce the overall cost per sq ft.

Why do smaller homes cost more per square foot?

Peninsula kitchens are generally smaller than island kitchens, but packed full of usable space - like the efficient kitchen design in this version of The Gershwin.

Small Home Cost Per Square Foot Factor #3

Size and layout of baths.

Do you need a separate tub shower in the master, or is it better to have a shower in the master and a tub/shower in the secondary bath?  (See pictures of master bathrooms without a tub, here.)

Why do smaller homes cost more per square foot?

More home buyers are requesting shower-only bathrooms, like in this version of The Smokey Ridge.

Small Home Cost Per Square Foot Factor #4

Fireplaces.

We're seeing more home buyers opt out of the living room fireplace. If a fireplace is on your must-have list, ask your builder to locate it on an outside wall.  

Exterior wall fireplaces are more cost effective to build than interior wall fireplaces.

Why do smaller homes cost more per square foot?

Small Home Cost Per Square Foot Factor #5

2 baths vs. 2.5 or 3 baths.

Bathrooms cost more per square foot than any other room in your home (besides the kitchen).

Depending on the sq ft and selections, a powder room can start in the $2K range. A full bath with tile and nice fixtures generally starts closer to $4K.  

To reduce the cost of your home, make sure you're getting the right number of bathrooms. How many bathrooms do I need? Find out here.

Why do smaller homes cost more per square foot?

There are many ways to build small, efficient bathrooms. Get more ideas from these 10 powder rooms for small spaces.

Small Home Cost Per Square Foot Factor #6

Stay angular.  Cut those corners. 

The more corners on the exterior, the higher the cost. To get a visual example, compare these two floor plans:

The rectangle footprint of The Silverwood makes it a more cost effective plan to build. With only a 200 sq ft difference in size, each plan has three bedrooms, two baths, and a two car garage.

Why do smaller homes cost more per square foot?

The Silverwood is copyright Plans, Inc.

Small Home Cost Per Square Foot Factor #7

Keep the roofline a little simpler.  Soaring rooflines can add expense without necessarily adding livable space.

Why do smaller homes cost more per square foot?

Small Home Cost Per Square Foot Factor #8

Specialty windows and rooms filled with windows.

Large window designs are a top custom home request. To reduce the cost of your home, ask your builder how to cut out specialty windows, and plan windows carefully throughout the home.

Why do smaller homes cost more per square foot?

This version of The Bostwick has the best of both worlds - the design incorporates lots of windows for tons of natural light, but with lower-cost standard window sizes and shapes.

Why do smaller homes cost more per square foot?

Small Home Cost Per Square Foot Factor #9

Size of laundry room.

Similar to bathrooms and kitchens, laundry rooms are more costly to build than other rooms, especially when a larger laundry is filled with cabinetry and countertops.

Why do smaller homes cost more per square foot?

See 10 small laundry room layouts, with completed home pictures, here.

Small Home Cost Per Square Foot Factor #10

Add built ins later.

Popular floor plans often include built ins throughout the home. Adding built ins down the road can save cost up front, and give your family weekend projects to complete together.

Small Home Cost Per Square Foot Factor #11

Two car, not three car.

When finding ways to cut the cost of your home, one of the first things to consider is removing the third car garage.

Most families find ample space in more standard two car garages, especially when nailing down true "must-haves" versus "really wants."

Why do smaller homes cost more per square foot?

For this version of The Dinsmore, the home owners reduced their home's footprint - and saved on building costs - by removing the third car garage.

Small Home Cost Per Square Foot Factor #12

Limit the size and quantity of covered porches.

The cost of porches and other outdoor living areas adds up quickly. 

Consider a front OR back porch, but not both, if you're looking to save money by building a smaller home. Which would you use more? That's the one you should build.

Often, homebuyers decide on outdoor living spaces after buying a lot - to maximize the use of their land.

Why do smaller homes cost more per square foot?

Remember - patios and decks are much more cost expensive than porches, and offer great outdoor living options.



How to Build a Custom Home:

These cost-cutting tips should help your family stay on-budget when narrowing down your favorite floor plans.

Ultimately, building a custom home is about quality, creativity, and personality. Ask Stanton Homes how we build custom homes - in budget - without sacrificing what matters most to YOU.

Raleigh New Homes 

 


 

Tags: new home cost, custom home builder, cost to build, custom home cost, cost per sq ft, new home prices

How to save money by building new | NAHB explains why new homes cost less

Posted by Penny Hull on Wed, May 09, 2012 @ 12:05 PM

New Homes Cost Less to Maintain Every Month

NAHB's Data Analysis Shows Cost Savings When Building New

How to save money by building new | NAHB explains why new homes cost less

 

Why should I build a new home instead of buying an existing one? As you start to think about buying a home, you should know all the costs involved - not just the upfront price tag.

A recent article released by the National Association of Home Builders (NAHB) re-emphasizes the cost disparities between new and used. Read the full NAHB article here.

New Homes Save Money

According to the NAHB, newly built homes (home built within the last four years) will save buyers money in monthly energy and maintenance costs.

The NAHB studied data from the 2009 American Housing Survey.

Analysis of maintenance costs found:How to save money by building new | NAHB explains why new homes cost less

 - 26% of all home owners spent $100 or more per month on various routine maintenance costs

 - Only 11% of home owners of newly constructed homes spent $100 or more on upkeep costs

 - 73% of new home owners spent less than $25 a month on routine maintenance costs

Analysis of energy costs found: 

  - The average home owner spent 78 cents per square foot* per year on electricity

 - Owners of new homes spent 65 cents per square foot per year

For homes with piped gas,

 - Overall, owners spent an average of 53 cents per square foot per year

 - Owners of new homes spent 38 cents per square foot per year

*on a median per-square-foot-basis

More Reasons to Build a New Home

There are dozens of reasons to build a new home, over buying an existing one:

How to save money by building new | NAHB explains why new homes cost less

 - New home warranties - on the home, appliances, and other products within the home

 - Custom floor plan design to meet your needs - don't want to use square footage on a formal dining? That's your choice when building new.

 - New appliances, built to last!

 - Universal design feature integration

 - Current lifestyle needs are met - more built-in storage, easy to clean floors, strategic lighting

Contact Stanton Homes to learn more about building a new custom home in central North Carolina.

Read more about the advantages of building a new home:

Top 10 Reasons to Build a Home Instead of Buying an Existing Home

Choosing New Over Used - Home Buying Tips

 

Tags: why buy a new home, new home cost, how to save money, Raleigh new home building