Skip to main content
Skip to main content

Thinking of building a home in South Florida?

Blog written by Francesca Villardi

Thinking of Building a Home in South Florida?

If you’re considering building your dream home in South Florida, it’s essential to understand the costs and challenges involved.

Cost Breakdown:

  • Construction Costs: Building a 2,000-square-foot home in Florida costs between $260,000 to $560,000, averaging about $500 per square foot according to HomeAdvisor. However, actual costs can vary based on location, property type, labor, and material costs.
  • Labor and Material Costs: These make up approximately 50% of the total construction costs. U.S. construction costs have remained significantly higher than pre-COVID levels, although they rose at a slower rate in 2023 compared to 2021 and 2022. Factors include inflation, labor costs, rising insurance rates, materials, and permitting costs.
  • Contractor Fees: Contractors typically charge 10-20% of the total construction value.
  • Specialized Costs:
    • Electrical: $7,500-$12,500 or higher
    • Roof Installation: $3,200-$36,500, depending on size and type
    • Plumbing: Around $12,000 or more
    • HVAC Installation: Approximately $12,500 or higher
  • Land and Site Preparation: Costs for land, clearing, and leveling, plus potential expenses for installing a well or septic tank.
  • Permits: You may need to cover permit costs unless included in your contractor’s fees (check your contract closely).

Interior Finishes:

Once the house structure is complete, choosing interior finishes can quickly increase costs. It’s crucial to plan and budget carefully to avoid overspending.

Market Conditions:

Is 2024 a Good Year to Build? According to Heartland Builders, 2024 may be a favorable year for building a custom home. Pricing and interest rates have stabilized, and there’s speculation that the Federal Reserve may decrease rates instead of raising them.

Decision Time:

Ultimately, whether to build your dream home from scratch or remodel an existing home depends on your preferences and circumstances. Both options have their advantages and challenges.

Expertise:

If you’re looking for your dream home in South Florida, we specialize in luxury and equestrian properties in Southwest Ranches, Davie, and Plantation. Whether you’re moving in or building from the ground up, we can help you find the perfect property.

For expert guidance and support in finding or building your dream home, contact us today. We’re here to help make your vision a reality.

Leave a Reply

Your email address will not be published. Required fields are marked *