Learn About The Way That BVM Contracting Help Clients Understand The Total Cost to Build A New Home In Toronto
If you are reading this article chances are you have already been thrown a multitude of numbers estimating the cost of a new home build in Toronto, many of which were costs per square foot. The problem with getting a cost per square foot for a new home build is people are mislead about the number of square feet this accounts for and the cost per square foot is usually underestimated to lure people into getting the process started.
This article breaks down the process BVM Contracting uses to accurately give people the total cost of building a new home in Toronto so that you can answer the question, “how much does it cost to build a new home in Toronto?” with certainty before investing time and money into a project you might not be able to afford.
THE REALISTIC COST OF BUILDING A NEW HOME IN TORONTO
When we are on our discovery calls with clients we inevitably always get asked the question, “how much does a new home build cost”? Sometimes they expect us to give them an accurate amount without them telling us about anything to do with finishes, square footage, or anything else important about the project/new home build. Instead of throwing numbers out of thin air, we employ a very simple process that allows us to understand in more detail what our potential new home building clients are looking for with their project, which allows us to put a representative cost estimate together. This is our alternative strategy to spitting out meaningless costs per square foot and non-representative home building costs. Every new home build project follows the same steps, but that does not mean that they all cost the same amount!
Step 1: Ask the clients 10-20 specific questions about their project
This is our favourite part of our estimation process because this separates the people who have actually done their research from the people just window shopping. If you are seriously considering building a new home in Toronto you already have an idea of the approximate size, finishes, and general process but need some more specific guidance on where the costs might come in. This is where an experienced General Contractor or Home Building Company in Toronto can help extract some key information about your proposed project to see if they have done a similar project in the past that can help form a representative scope of work (and eventually budget) for the project.
Step 2: Review and match Client’s scope of work to recently estimated (or previously completed) new home build project to estimate cost
Once the key information is understood about your property, size of the new home construction project, and potential finishes it is time for your prospective home builder to match your scope of work with a past project that they have estimated or completed. BVM Contracting has a database of over 30 new home building projects in Toronto (specifically denoted as residential infill construction projects by The City of Toronto) from the past 5 years that serves as our foundation for estimating preliminary project budgets for potential home building clients. No matter the size of your new home construction project we are able to provide a representative budget that will help you in your decision-making process. Even better - we can tell you the best areas to save money and get the best value for your dollar. That is the value of working with a General Contractor that is experienced with custom home building and new home construction in Toronto, we give people no-nonsense information that will actually allow them to budget properly.
Step 3: We Supply you with The estimated cost for your new home building project
Once a thorough review is completed of all of the details provided, as well as past projects, we provide you with an estimated cost for your project. If your scope of work is very similar to a project we are working on or have recently quoted we can also supply you with plans and a full scope of work/budget breakdown to understand how the costs are split up. At BVM Contracting we pride ourselves on itemizing the costs of every step of the home building process. This allows the client to understand what they are paying for AND allows us to find alternative solutions to help bring costs down if certain project line items are more expensive than what the client wants to pay. We believe that transparency is key to understanding the home building process, and to establish a level of trust that is needed to make a new home construction project a success.
Conclusion
It is important to understand the total cost of building a new home in Toronto instead of costs per square foot. Any Home Builder in Toronto that isn’t willing to learn more about what you are looking for is not worth your time. It is important to do the work upfront to understand how much it costs to build a new home in Toronto before investing a lot of time and effort in designs, permits, and discussions just to find out that you cannot afford to build. BVM Contracting aims to give accurate and representative project budgets so that we can give people a realistic projection of costs before they move any further in their process. Designing your own new home is fun and exciting, but it is even better knowing that you will be able to afford it.
And better yet, if you are looking for a cost estimate we now have a new home building cost calculator that you can use for free!
About BVM COntracting
BVM Contracting is a full-service General Contractor or Home Builder located in Toronto. We provide home renovation and building services for major home renovations and custom home builds (full interior renovations, home additions, lot severances, new home construction, and laneway suites). Our goal is to help guide our clients through the process of building their home, from concept to completion.
Further than providing General Contracting and Project Management for major home renovations, we also offer value-added services such as renovation financing, renovation rebate consultations and services, building permit and design services, smart home installation services, and real estate investor services.
To learn more about our offering by visiting our services page.