How Much Does It Cost To Build A Luxury Home?
There's no doubt that luxury custom homes cost more to build than the average home. But just how much more? The answer depends on several factors such as location, cost of the lot, architectural style, size of the home, and the finishes you select.
Nowadays, custom homes in the metro Atlanta area or in Cashiers, NC and Highlands, NC typically cost $3 million or more.
The final cost of your luxury home will depend on your specific plans and desired features. Here are six factors that affect the cost of a luxury home.
6 Key Factors That Will Affect the Price of Your Luxury Home
1. Location: The land cost can vary widely depending on where you live and what kind of neighborhood you're building in. To build your custom home in a prime intown metro location, be prepared to pay a premium price. Some lots can cost $500,000 to $1 million or more in desirable areas. If you need help finding the perfect lot, our colleagues at our sister company The Loudermilk Group by Roane can help you find the right location near good schools, retail and restaurants.
2. Size and Structure: When building a luxury custom home, it’s vital to use high quality materials installed with skilled craftsmanship to create value and build a home that will last for generations. The overall size, style, and detail of your home affects the cost. If you choose to create bonus rooms over the garage or a finished basement, those choices will add to the cost and can also create additional value in your home.
3. Design & Planning: Architectural and design services can be a significant contributor to the cost of a custom home. As a leader in design and construction, Loudermilk Homes is proud to offer in-house architectural design services as part of our engagement. Our team will create a bespoke design that is uniquely yours, and we can make changes and modifications more quickly than typical architectural firms. Check out a few of our most popular architectural styles here.
4. Finishes: A luxury home typically has high-end finishes, such as top-of-the-line appliances, expensive flooring materials, custom cabinetry and millwork that make your custom home yours. Our team will work with you to choose the best design selections and finishes, while staying within your budget.
5. Exterior: Your home's exterior is another key factor affecting the price. A sleek, modern look with lots of glass and metal accents and stucco will have a different cost profile than a brick or stone exterior. We will work with you, our architectural team, and our cost estimators to help you choose the right materials for your custom home.
6. Contractor Fees & Permits: To build a luxury home, you'll need to work with experienced custom home builders. These contractors will charge higher rates than your average builder - and you may also need to pay for permits and other fees.
Find The Best Luxury Home Builders At Loudermilk Homes
At Loudermilk Homes, we pride ourselves on being one of the top luxury home builders in the area. We understand that your home is your sanctuary, and we work tirelessly to create a space that reflects your unique style and personality. Whether you're looking for a sprawling estate or a cozy bungalow, we can help you find the perfect plan to build your dream home.
When you work with us, you're not just working with a team of builders - you're working with a family. We treat every project with the same care and attention to detail we would put into our homes.
Contact us today to learn more about our services and how we can help you build the home of your dreams.