Not surprisingly, the first question a prospective home buyer asks is “how much do you charge per square foot?”
Price is often the first thing prospective homeowners ask about when they are conducting research on what it costs to build a new home on Maui. Buying a home is significantly different from purchasing other commodities, such as apparel, furniture, or new vehicles. Even comparing apples to apples can present difficulties, as there are many more variables to consider where a home is concerned. For example, whether to purchase a fully loaded Mercedes versus a fully loaded Toyota is a typical decision based on what or how much you want to spend. Buying a home is not much different from buying a car, except you have lot more options which cost a little more or less.
Because a home is the backdrop for creating cherished memories, most families are willing to make a sizable investment into building a new custom home. Although the memories are up to you to create, I will do my best to realistically address the cost for building a new custom home on Maui and offer valuable business insight with regard to the process. However, you must remember that I will be using average price ranges.
Although it is certainly possible to custom build a small home, the Maui custom home market usually begins at the 2-story, 2,500-square-foot measurement range, the latter of which is associated with an average price of approximately $200 per square foot. As you may have already suspected, this price does not include design and landscaping fees. High-end luxury custom dwellings featuring some of the finest finishes, appointments, and intricate home technology systems can run as high as $350 per square foot, not including the lot. Therefore, the starting price for a 2,500-square-foot dwelling in this area would be approximately $500,000.
I would also like to share some details concerning the business side of the process and provide a price breakdown for building a new custom home. This is because I understand that any person who is seeking such information is likely a savvy, price-conscious consumer who wants to make the most appropriate decisions, while at the same time protect his or her assets.
If you are like me, you are probably also concerned with something called Value Engineering, which is a phrase I use to describe getting the most for your money without being required to sacrifice quality. I have been in the building trade for over 40 years, during which time I have developed numerous smart and efficient ways to lower costs for my clients. These creative measures help to ensureyou get the most bang for your buck. I accomplish this by evaluating alternatives, asking the appropriate questions, and ultimately providing top value for the most reasonable price to all the clients I serve.
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