Many people ask the question, “What is the Cost Per Square Foot for a Custom Home in Maryland?” While this question may be relatively easy to answer when building a production or semi-custom home, there is just no easy answer when building a custom or luxury home. There are so many variables to consider.
Luxury homes, in particular, include so many details and customized features that are specifically designed for each homeowner and their lifestyle. In this article, we provide a few examples and break down the reasons the cost per square foot can vary so widely. In addition, the fluctuation in materials, inflation, and labor costs can dramatically impact the ‘average’ price per square foot, from one year to the next as we have seen so often in recent years.
Cost Per Square Foot Changes Daily
It’s important to note that the cost of materials is a daily floating number. With a global economy, the costs of drywall, lumber, and steel are variable. So, all the cost per square foot (CPSF) figures quoted in this article are based on the costs of construction at the time of publishing and should not be used as a reference point for today’s costs.
“Quality” of Materials Can Impact Your CPSF
To illustrate why the cost per square foot for a custom home can vary widely, we have provided the following example. This is an actual outline of two different homes we built in recent years with approximately the same square footage, but a big difference in cost per square foot. There is a vast difference between these two homes, based on the homeowner’s preferences and budget. Although this chart provides limited detail, you’ll notice the selections, specifications, and the level of quality and finish desired are vastly different. Please note that the homeowner has the choice make the selections based on their desired budget. These are two extreme examples and there could be variations anywhere in between.
Photo Courtesy Mueller Homes
The architecture, site work, landscape design, and extensive details make this cost per square foot dramatically different than a modest home with fewer features.
Site Work Impacts the Cost Per Square Foot
Another variable that largely impacts a home’s cost is the site work and preparation of the land. There are large variations of cost based on topography, if the Lot is wooded or cleared, length of the driveway, stormwater management, sediment control, jurisdiction, building permit fees, impact fees, and more. Additionally, waterfront lots are subject to critical area requirements and will add additional costs for permitting and compliance issues.
Luxury Homes Are One of a Kind
With these examples, you can easily see why a luxury custom home really can’t be given a standard cost per square foot because it is one-of-a-kind, built to your exact specifications. The price of your home will be largely determined by:
- Style & Complexity – What kind of architectural details are specified? How many levels is the home? Are there intricate elements of design?
- Quality & Level of Finish – Do you want unique one-of-a-kind materials and selections? Do you want the top of the line, or moderate grade appliances and flooring?
- Size & Scope – A 4,000 square foot home (conditioned area) may include a two-car unheated garage; whereas a 6,000 square foot home may include a three-car heated garage. With more size often come luxuries like multiple porches and decks, a larger outdoor area or pool, etc.
Your lifestyle, preferences, and expectations will largely impact the price per square foot. We recommend including a reputable builder early in the design phase. If you are budget-conscious, you’ll want to ensure that your design expectations are compatible with your budget. An experienced and reputable builder can offer suggestions, and work collaboratively with your architect, on ways to value-engineer your project to ensure your expectations and budget are aligned.
One important final note is that many homeowners enter the design phase with a budgeted cost per square foot. However, if the builder is not part of the design phase, they may find that the designs far exceed their initial budget. If you are budget-conscious, you’ll want to ensure that your design expectations are compatible with your budget. This is why, we believe, it’s important to include an experienced and reputable builder in the design phase. working collaboratively with the architect, the builder can offer suggestions on ways to value-engineer your project to ensure your expectations and budget are aligned.
Mueller Homes has been handcrafting homes, on your lot, for over 30 years. Contact us today to start the conversation! MuellerHomes.com
