How much will it cost to build a new building or remodel?
How much will my remodel or new construction project cost?
After you are done imaging how amazing a new building or a remodel would be for your home or your business, the second thing people think about is “How much will my construction project cost?” and then, “How much will it cost to hire an architect?”. Everyone watches HGTV and Fixer Upper, which unfortunately is extremely misleading with regards to the actual cost of a project. Fixer Upper is based out of Waco, Texas, where the cost of construction and labor is apparently a quarter of what it is here. I watch the show occasionally and end up yelling at the TV when they show a new kitchen including lighting and appliances for $2000 or a new master bathroom for $600. There ain’t no way, folks! As an architect, I see the market costs for 100’s of projects a year. I also have remodeled two of my own homes and built a new house for my family. So, while I know how to do things the least expensive way possible, I also don’t recommend it (that is a blog for another time).
As of today June 28, 2019, the cost of construction in the Northern Kentucky, Louisville, Kentucky and Cincinnati, Ohio area you can expect to spend a minimum of $150 to $200 per square foot for both residential and commercial construction. The cost can easily go up from there depending on three things:
The complexity of the building:
For a remodel are we altering the existing structure? Do we have to take out existing bearing walls and add new beams and columns?
For a new build is it going to be a simple box or a piece of art?
Are we going to have many different forms or roofs?
... these are just a few examples.
2. Site development costs:
How much earth must be moved by big equipment in the excavation for the home or the driveway?
Do we need to install a septic tank and leach field or what will the sewer tap fee be?
Will there need to be any retaining walls on the site?
3. The level of finishes:
A custom tile shower with glass enclosure can be anywhere from $3,000 to $5,000 where a shower insert unit from Home Depot would be $200.
Hardwood floors throughout? Or LVT (Luxury vinyl tile with hardwood look)? Or carpet?
Resale value is another factor that must be considered with every new construction or remodeling project. We encourage our clients to be thinking about how the building can meet their needs now and at benchmarks of 5 years, 10 years, and 20 years and beyond. Give us a call to set up a and we can provide more insight into the cost of your specific project.