Building a luxury home can transform your family’s quality of life and invigorate your property portfolio. The definition of luxury is personal. It may mean a warm and inviting design, or a bespoke ecological statement. Everybody dreams about having their own personally designed luxury home, but how much do they really cost? Here’s a quick look at the practicalities.
Lots of companies like to be hazy with numbers, because every build is very different. However, in today’s market the average cost of building a luxury home is anywhere between £500,000 and £1million+. This figure can be more if your vision is particularly unusual or demanding, but, as an average, this is a reasonable target when building your dream home. This equates to £200-£350 per square foot – and is often quite a bit less than moving to a bigger home.
What Do The Costs Involve?
Your quote will cover labour, materials and expertise. High quality materials and talented workmanship will cost more than basic materials and rushed work, and this is usually a premium worth paying. It is the finer details that add value and character to a home. Combining skill and quality to complete your vision can make the difference between a lacklustre property and a tasteful, practical masterpiece.
What Is The Value Of Expertise?
Any work of skill, be it a dream home, a piece of art, or a construction project takes care, thought, and dedication to complete. In home design, experience and knowledge lead to greater efficiency and a reduced likelihood of errors. Professionals who charge slightly more do so because they are putting in the time and effort to ensure that your home is completed to the highest possible standard, in the shortest possible time.
Are There Ways To Reduce The Costs?
There are always economies you can make with a build, and we can advise you on how to get the most from your budget. However, it’s better to think in terms of value for money and positive lifestyle improvements than figures on a page. A home that provides years of comfort for you and your family is the best return on investment.
The things that makes an expense worth the money are quality and personal service. This is a helpful indicator when considering your options for creating your dream home. As Warren Buffett famously said, “price is what you pay; value is what you get.” As long as quality and creative vision are aligned, a new build is rarely expensive for the value it provides.
How Can I Tell If My Quote Balances Value With Realism?
Experienced companies will have extensive portfolios of images from previous jobs. Take some time to browse through. Project images and case studies are excellent indicators of the type of service and the level of quality that can be expected. Enquire whether the development ran to schedule and to budget. Investing time and care in the early stages of your build– such as research, planning, and decision-making – is crucial to ensuring you get the home you deserve.
For more information about creating luxurious design in a new-build home that’s unique to you, call us today on 020 8942 7048!