by John Halley
Since construction costs always seem to be going up regardless of the economic times, putting together a realistic construction budget is more important now than ever. Strategic budget planning becomes even more important when we add desirable Green Building technologies solutions to the equation. DREAMTIME typically provides the following information to customers interested in our home sites, to help them quickly scope a realistic estimated budget and feasibility for new custom home projects.
Confused about where to begin, what to do & how to get there?
We can collaborate and help you every step of the way!
Wherever you are in your development or construction process, we can help you create the best possible solutions within your budget. Our insight and experience simplifies complex planning issues, as we help you to achieve your goals with market savy solutions that protect your investment.
Regardless of project size, we can offer flexible, cost effective and efficient support, custom tailored to each individual project’s requirements. DREAMTIME offers economical, efficient and personalized attention to all phases of project planning, architectural design, construction documentation and during project construction for innovative projects that often include cost-saving renewable energy solutions.
GENERAL COSTS (updated for 2013)
Following price per square foot ($/sf) construction costs are applicable for single family homes in the Santa Fe market. For DREAMTIME’s alpine resort projects located in Taos Ski Valley custom home construction costs run higher regardless of home type, due to the rugget mountain location, high altitude, snow load driven structural requirements & extreme weather conditions.
• Economy merchant built home: $100-$150 p.s.f.
• Low-end custom home: $140-$175 p.s.f.
• Mid-range custom home: $175-$225 p.s.f.
• High-end custom home: $225 p.s.f. and up
• 2×6 garage, insulated, slab, stucco, sheetrock: $85-$120 p.s.f.
• Typical portal w. slab floor: $85-$100 p.s.f.
• Typical carport w. slab floor: $85-$100 p.s.f.
• Typical kitchen: $300-$350 p.s.f.
• Typical bath: $250-$300 p.s.f.
• Typical LR or BR: $150-$1750 p.s.f.
• Permits per $1,000: $2.50-$4.75
• Workers Comp insurance: 15-20% of payroll
• Contractor profit & overhead: typically 15% , can be 10% on 10%
• Gross Receipts tax: town 8.1875% county 7.125%
• Annual price increases: historically 5-7%, recently lower
2012-2013 Estimated Construction Cost for Typical Santa Fe Home:
Architecture & engineering services, renewable energy solutions, landscaping, permits & other fees are additional as needed.
Site Improvement Package (builder’s cost): $20,000
2,000 s.f. Home @ $175/sf (builder’s cost): $350,000
300 s.f. attached Portals @ $115/sf (builder’s cost): $34,500
500 s.f. Garage @ $100/sf (builder’s cost): $50,000
15% Profit & Overhead: $68,175
8% Gross receipts tax: $54,540
Estimated total: $576,715
DREAMTIME with affiliate Comet Studios offers full comprehensive planning, design & real estate development services for residential & commercial clients. Our projects vary from:
- Single Family Homes
- Cabins & Log Homes
- Custom Estates
- Condominiums & Live / Work Lofts
- New Urbanism Planning
- Land Analysis, Project Feasibility & Acquisition
- Eco-Community Planning & Development that includes lifestyle planning and amenities
- Environmentally Conscious Green Building and Renewable Energy Solutions