How Much Does It Cost to Build a New Custom Home on Maui? (Continued)

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(This is page 2 of a 2 part article. To go to page 1, please click here.)

Below are the six categories that are associated with new custom home costs.

How Much Does it Cost to Build a New Custom Home? Breakdown of Costs:

• Shell of Home 22 percent
• Exterior Finishes 10 percent
• Interior Finishes 30 percent
• Mechanicals 8 percent
• General Conditions 20 percent
• Contractor’s Fee 10 percent

Shell of Home

The shell is a term that essentially refers to your home’s structure. Such items are required, rather than optional. They include the following: structural steel, insulation, labor, lumber, framing, excavation and foundation.

Exterior Finishes

These objects are selectable and include stone and stucco, bricks, trim, siding, windows, doors, roofing materials and flashing, whether copper or aluminum.

Interior Finishes

Added into the cost for new custom home projects are interior finishes. These items are all selectable, and therefore the customer has complete control over the price range. Such items include paint, shower doors and mirrors, hardware, railings, stairs, moldings, doors, fireplace fronts, counters and solid surfaces, wood trim, cabinetry, flooring–such as carpet, tile and wood–appliances, lighting fixtures and plumbing fixtures.

Mechanical Products

HVAC, electrical components, plumbing components

General Conditions

This group is comprised of various on-site essentials that are necessary to the building project, if the latter is to be completed accurately, safely, and in a timely manner. For example, this group includes overhead and insurance, city permit fees, garbage removal, property protection, fencing, direct supervision of workers, and project management.

Contractor’s Fee

Your contractor is the person who is ultimately responsible for the management of all parties involved in the construction process, such as vendors, design professionals and subcontractors. The contractor is also responsible for ensuring that your new custom home in Maui is built according to your specifications and in a timely manner. He or she must also ensure that all those involved in the project stay within its previously outlined budget.

Two Additional Categories are Explained Below:

Site Costs of Building a New Custom Home

All custom Maui home projects are unique, and the funds required to build yours will vary, depending on the current condition of the land on which the home will be placed and the level of preparation required to break ground. Site costs include surveys and engineering, demolition of the previous dwelling, if applicable, driveways, landscaping, walkways, and underground utilities. Site costs for a 2,500-square-foot dwelling on a fully improved lot are anywhere from $17,000 to $40,000.

Design Costs of Building a New Custom Home

Additional costs obviously include design fees, which are addressed in the initial phase of planning for a new custom home. They include lighting design, interior design, cabinet design and of course, architectural design. This topic will be comprehensively addressed in an additional post. However, as an important tip, I suggest that prospective buyers remember that building and design are separate tasks for which different training is required. With regard to building costs for new custom home projects, I advise the future homeowner to work with the designers and builders as a team. Although I will also address this in a separate post, I will leave you with one thought: the more experience the builders and designers have with working as a team, the better the cost control will be for you, the client. Hopefully the information outlined above will help you to understand the costs to build a new home on Maui. Finally, always remember to ask questions, as this is how intelligent people achieve success in all their endeavors. As a final note, a lesser square foot price for the same plan does not always equate to the same quality built home.