Defining a budget for your investment is the most important step and should be the first you take. Here is what to expect:
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Construction costs: $100-$300+ per Square Foot (depending on scope: $300+ complete remodel of space, $200+ new construction, additions, cottages, etc, $100+ Basement/ ground level units, in-laws, etc.)
Calculate total construction costs first, then add:
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Design fees: 5%-10% of total construction costs (7% Avg.)
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Structural engineering fees (if needed): 2%-10% of total construction costs
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Energy Consulting fees ('Title 24'): 0.5%-1% of total construction costs
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Landscape Architect fees (consultant): 2%-10% of total construction costs
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Permit fees (charged by city): approx. 5% of total construction costs
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Finishes (not included in construction costs): 10%-20% of total construction costs
Additionally:
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Every project has the potential for unknown-costs discoveries, such as: dry rot, weak foundations, failed structural elements, replacement and/or repair requirements by city officials, asbestos/lead removal, water drainage/proofing issues, code/legal issues, old electrical and plumbing systems, etc. Be ready to allocate 10%-25%+ towards these issues.
Contact us for a complimentary consultation and we will help you figure out your budget.