Key factors that affects house construction cost

Cost Estimation
8 Key Factors
Yagos Stokas
19 Sep 2018
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  • Image: Modern Two Storey Residence in Voula, Athens

    Before you decide to build your own home, you know the funds you are willing to spend.

    So the project started and in the startup procedure, contingencies and change orders begins.

    What went wrong?

    When did it happen;

    Who is to blame;

    Unfortunately many times we underestimated actions that should have taken into consideration from the starting process. Steps that preventing mistakes along the way. Here are a number of key factors that you must follow, in order not only to prevent contingencies and cost overrun but to turn out this hard process into a joyful trip of creation!

    1. Calmness

    Do not be in rush to decide. Neither the land nor your partners. Take your time and choose your collaborators wisely. After all you will be spending a lot of time together.

    2. Selection of the contractor

    Choosing your contractor might be the single most important decision you make in the building process.
    A reliable partner with expertise not only in construction, but also in the property valuation, design optimization and ability to manage bureaucracy are few of the skills you should look for.
    The first item on your checklist before hiring your contractor, is to find on him trust instead of fear.

    3. Design

    Optimizing design, smart ideas, attention to detail is essential to keep costs at the level you set at the beginning. The cooperation between the contractor and designers is important and you will be needed to seek for that. It can save you up to 20% of your cost estimates. Do not listen to what they say “so those were the blueprints.” Wrong! The money we have, determines the design, not vise versa.

    4. Surface and volume of the house

    Wasted space is wasted money. Do not underestimate any square meter. If you do not need a bathroom of 30 m2 why should you spent thousand of euros? If you are spending 1.000 €/m2 for 200m2 house then its going to cost 20.000 € less than it would for a 220 m2 house. Just basic math.

    5. Region

    In general the following rule applies: The construction cost is higher on islands or remote regions. Do not purchase a land without first take into account this factor. It is very easy to discover the difference in prices between regions with minor job. Contact us to tell you how to do.

    6. Location of the plot

    For instance the access difficulty, adjacent properties, overhead lines and existing buildings will increase unpredictably the overall expense. Paying special attention and discuss with your Builder. Ideally is to have an associate who will valuate your land before purchasing.

    7. Soil and Subsoil

    Poor soil condition or rocky soil, ground water table and streams will significantly increase the construction cost of your house if not taken into account.

    8. Construction Materials

    Choose carefully what you really need without excesses and without being influenced by others. Discuss with your Εngineer and your Decorator. Beauty lies in simplicity.

    Building a house is cheaper and has more fun than buying one. Your own choices and decisions will verify or disprove this rule.

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