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What are the factors that significantly affect construction cost?

Construction Cost
7 Key Factors
Yagos Stokas
1 Feb 2021
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  • Image: Modern Two Storey Residence in Voula, Athens

    You want to build a house. You are in the phase of visioning and continue to the stage of creation. The first step is to think about the cost of construction. How much will all this cost you? How can you avoid huge increase in construction cost? What should you keep in mind?

    Building a house or any building is a wonderful but expensive process. This is because the construction cost is high from the beginning and it is very easy to surpass the calculated costs.

    So, this is a dream quite difficult to realize, but it can come true. As long as you know some things from the beginning. One of them is the construction cost.

    Before proceeding with creation, it is very important to calculate the available capital that you will spend on your project. This process for estimating it, however, is complicated, because you have to take into account many factors in order to determine the approximate cost of the project.

    ” Construction cost:

    The creation begins”

    Let’s start from the beginning. As mentioned above, before you decide to build your own home, you know the capital that you will spent. So the project starts and before you even start, appear the unforeseen expenses. You’re wondering:

    What went wrong?

    When did it happen?

    Who is to blame?

    Unfortunately, many times we underestimated actions we should have taken into account from the beginning of the project. So let’s see what are the key factors to follow to not only avoid unforeseen expenses and cost overruns, but to turn this difficult process into a pleasant journey of creation.

    We have a useful tip before we proceed to the factors:

     

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

     

    What are the factors that you need to consider in order to make the best estimate for the construction cost?

     

    1. Selection of the contractor

    Choosing your contractor might be the single most important decision you make in the building process. Make sure to outsource your work to a group of people that are professionals and ethical.

    A reliable partner with expertise not only in construction, but also in the property valuation, design optimization and ability to manage bureaucracy, are just a few of the skills you should look for. Thus, through him, you will be able to have a clear control over the construction cost.

    The first item on your checklist before hiring your contractor, is to find trust in him instead of fear.

     

    1. Design

    Optimizing design, smart ideas, attention to detail is essential to keep construction cost 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 determine the design, not the other way around.

     

    1. 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 35 m2, but one of 15 m2, then why waste some thousands of euros? If we assume that the construction cost is 2,000 € / m2 then you will pay 40,000 € for the 20 additional square meters of your bathroom. Just basic math.

     

    1. Region

    The following is generally true: 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 find out the difference in prices per region with minimal work. Contact us (LINK) to tell you how to do it.

     

    1. Location of the plot

    The location of the plot is extremely important for the total construction cost. For example, the access difficulty, neighboring properties, high-voltage lines or existing buildings, can unexpectedly increase overhead and indirect costs. Pay due attention and discuss with your Contractor. Ideally, is to have a person who will evaluate your plot before you buy it.

     

    1. 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.

     

    1. Construction Materials

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

     

    At Stokas Construction, in addition to the architectural design, construction and interior design of a house, we also provide you with the QUBI file. A separate folder, the only one that has received a Gold Aftersales / Customer Services Award (Quality dossier, Warranties, Documentation), and that includes all the details of the identity of each of our construction projects. It contains all the parameters and information about the quality, operation and functional characteristics of each building.

     

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

     

    If you are ready for your most ambitious step, our award-winning, experienced and fully trained team is ready to take on everything you need and help you realize your dream. Take the first step and we are always by your side.

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