Cost to build a home in central Okanagan

[TylerM4]

I know, I know... this is like asking "How long is a piece of string".

I expect vague answers and price ranges vs a set cost. Would love to hear from someone who has recently built and what it cost them.

I'll set some assumptions to provide context:
- Cost of building the house only. Not including cost of lot, landscaping, etc.
- Typical new home with decent quality yet cost effective finishing. A new home, not a luxury home. No pool, etc. "Builder spec" if you will.
- Let's say approx 3000sqft finished space over 3 levels (basement, main, upstairs) like most modern houses.
- Assume typical building conditions. No or little blasting required, not on a crazy steep slope, not in a swamp, etc.

Thanks!

[OKkayak]

At todays insane lumber prices, my guess would be right around

[alanjh595]

Allow $300/sqft.

Just for the construction, plus lot prep, landscaping, driveway, retaining walls, blasting, etc.

Then add upgrades to plumbing, electrical, floor coverings, cabinets, lighting, heating, roofing, etc.

[common_sense_guy]

I remember when it was about $85 a square foot when I first got into a trade

[Gilchy]

Allow $300/sqft.

Just for the construction, plus lot prep, landscaping, driveway, retaining walls, blasting, etc.

Then add upgrades to plumbing, electrical, floor coverings, cabinets, lighting, heating, roofing, etc.

This is about what I’ve seen as well

[dreamon]

I know, I know... this is like asking "How long is a piece of string".

I expect vague answers and price ranges vs a set cost. Would love to hear from someone who has recently built and what it cost them.

I'll set some assumptions to provide context:
- Cost of building the house only. Not including cost of lot, landscaping, etc.
- Typical new home with decent quality yet cost effective finishing. A new home, not a luxury home. No pool, etc. "Builder spec" if you will.
- Let's say approx 3000sqft finished space over 3 levels (basement, main, upstairs) like most modern houses.
- Assume typical building conditions. No or little blasting required, not on a crazy steep slope, not in a swamp, etc.

Thanks!

Tyler, I am in the finishing stage of building a 955sf footprint two storey box, painting and stucco finish coat happening now.
Material prices were locked in November, construction started early December.
Total cost of $310,000 (excluding landscape, drive and fence which is another $50,000)
Total size of 1,910sf (about half of ground level floor is a garage)
$167psf when all square footage included. Garage is finished to painted drywall.

So much boils down to cost coming out of the ground as it is unpredictable until you put shovel in ground. Mine was only $3,341 as on flat ground, easy digging and only footings.
Once that part is done, you can nail down the cost.
Imperative to be disciplined when picking finishes.
ASSume nothing. Trust but verify.

This is the eighth place I've built in the last six years so have some experience and use pretty much all the same trades and suppliers, we have a mutual trust and understanding. This helps so much.

Personally I would NOT embark on a building project right now simply because trades and materials are in short supply and high demand.
Yes prices are higher, but our supply chain is broken. Back orders now on so many materials.
Relationships are critical in getting anything done.

Edited to add: I never answered your question.
Budget on $300psf, but with tight cost and efficiency controls you may get it down to $250psf

[TylerM4]

Thanks all.

Input here matches what I found when searching online.

Yup - looking at right around $1M to build a "typical" new home these days!

[69cutlass]

300$ a sqft was typical before the huge lumber increase

[TylerM4]

300$ a sqft was typical before the huge lumber increase

Perhaps. I read a lot of articles from local builders on their websites. Apparently this is a super common question.

Some are likely a few years out of date. But they were all pretty consistent:

$200/sqft is lowest you'd see. Very easy building conditions, larger home/rooms (larger size lowers average cost per sqft). Simple home design, and careful attention put on selection of finishing to control cost. Very few are able to build for this cost.

$250/sqft seems to be attainable if things go smoothly, no surprises/challenges with site preparation, and decisions constantly keep cost in mind. Almost a "best case scenario"

$300 seems like the best number to budget by. It accounts for the odd problem and allows for the odd upgrade and a little more flexibility with finishing's.

$400+ for a luxury build.

[JC2017]

What used to cost $20,000 for lumber for 2500 sqft, now costs $59,000.

To build a 2500 sqft house using a builder with no fancy upgrades will cost roughly $300 per sqft. Not including land or permits.

[Gilchy]

Not to minimize the lumber price jump, but that cost only adds about $15/sq ft. It’s the finishing that can really drive prices skyward.

[TylerM4]

Not to minimize the lumber price jump, but that cost only adds about $15/sq ft. It’s the finishing that can really drive prices skyward.

I agree. Lumber is only a small portion of the cost.

Finishing is a major component. Here are some others that have a big impact on final price:
- Blasting and site prep/conditions. Much more expensive to build on rock and/or on a steep slope.
- Building design. If it's all fancy angles, flat roofs, and engineered walls/beams it'll cost a lot more.
- Windows and doors (Not considered part of finishing but can really influence overall cost)
- HVAC. In floor heating, geothermal systems, etc get really expensive really quickly.

[JC2017]

Not to minimize the lumber price jump, but that cost only adds about $15/sq ft. It’s the finishing that can really drive prices skyward.

I agree. Lumber is only a small portion of the cost.

Finishing is a major component. Here are some others that have a big impact on final price:
- Blasting and site prep/conditions. Much more expensive to build on rock and/or on a steep slope.
- Building design. If it's all fancy angles, flat roofs, and engineered walls/beams it'll cost a lot more.
- Windows and doors (Not considered part of finishing but can really influence overall cost)
- HVAC. In floor heating, geothermal systems, etc get really expensive really quickly.

Don’t forget permits. The city charges nearly $20,000 per lot for new home builds.

[Panzer130]

To answer the original question: A reputable builder, building a well constructed home, will tell you 300.00. With today's volatile market, it is recommended to set aside an 8% contingency to cover material & labour shortages that can delay construction and result in further cost increases.

That said, the most inaccurate and misleading calculation you can use to determine building costs is sq. ft pricing. You will have more accuracy calculating the cost per pound to buy a car.
But, many insist on using that number regardless of the mass disappointment it creates at the end of the day. Some clients are even foolish enough to choose their builder based on this fictitious number.

It is common for clients to assume “finishes” are the biggest impact to the cost of their home and this could not be more inaccurate. On average ( yes, there is always going to be someone with an exception ) only 20% of the cost of a new home is attributed to the finish items the client can control. Those items typically are cabinets, flooring, plumbing, and lighting fixtures. But, they typically only attribute 20% of the cost you have influence over.

Not even your closest cousin’s, best friend, “I know a guy”, discounts are going to reduce this category enough to make a substantial impact to your building budget.

80% of the cost of your new home is comprised of concrete, lumber, structural floor systems, roof trusses, windows, doors, HVAC, mechanical rough ins, electrical wiring, insulation, roofing, Drywall, paint, exterior cladding, etc. There is truly little a client can do after a home is designed to influence these costs.

Complexity of your design is your first defense against budget increases. Complexity includes site selection, complex roof lines, multiple corners, high ceilings, walls of windows, large garages & decks.

Rules of thumb when trying to reduce costs:
• Reducing finishes results in thousands saved
• Reducing complexity results in 10’s of thousands saved

If you need to reduce the cost of your home by 80K or more, then you need to go back to the drawing board, not the flooring shop.

[Mrmarvingardens]

Details of building costs were recently discussed in the Globe and Mail.
Builders gave a figure of $195 to $275 a square foot
Kelowna being Kelowna..everything costs more
Gas, food, groceries, car repairs rent...construction?..pick a number!