By: Thom Gallagher

Build vs. Buy - What's the Cost Difference?

Tags: cost to build a house, building a home, new house on vacant lot, home build costs

Given today’s rising house prices, several clients have considered buying a vacant lot to build their next house. From personal experience, building new or going through significant renovations is incredibly exciting, stressfull and rewarding. If you’re considering taking on such a project, here are a few things you should know:

Buying a Building Lot:
Construction Costs: Architectural Design: Development Charges & Permits:
Septic Systems & Wells

Putting it all together, you can expect to shell close to $1 million to build a 2,000 square foot home on an urban residential lot (at least in Halton HIlls). Yes, you can save money by doing some of the work on your own or being your own general contractor; by building a smaller house with lower end finishes; by buying a cheaper lot, and by keeping finishes and landscaping to a minimum. Regardless of what you plan to do, there is no question that the frustrations and struggles of a new build are immense, however, after the fact, the joy and pride that you get from walking into a house that you envisioned and designed is unparalled.  

If you are looking for a building lot or thinking of making a move in Halton Hills or throughout the GTA, call Thom at (416)524-6530 today for all the professional help and support you need.