How to Estimate Home Building Cost?

There are many factors that go into home building costs and it can be huge task to even come out with an estimate.

The quickest way to estimate home building costs is to find similar houses in the area that has the same overall look and size of one that you want to build. Then take the selling price, minus the cost of the land and you will have a rough and quick estimate of the construction cost. This is, of course not an exact science, but by following this basic rule you will be able to get a rough estimate.

If the house that you are comparing with was built a few years ago, then you should factor in the appreciation cost due to increase in the cost of labor and materials at between 2 to 5% per annum.

Home building costs can be further influence by the interior feature of the home. Let’s say you want a completely furnished basement and the house than you are using as a reference does not. You should factor this into the cost estimate. A little here and there can add up to thousands of dollars.

Another way is to seek the help of a construction company. If you show them the type of house that you are interested in they should be able to respond to you with a quick estimate. Usually, due to expertise and experience, their estimate can be quite close to the actual building cost.

What if the house that you plan to build is different from what is available in your vicinity? Here is a tip. Go online and type in the terms ‘home plans’ or ‘house plans’. You will find many sites that offer thousands of house plans. You can search by type, size, number of rooms etc and for a small price you can download the blueprint. Then ask your friendly construction company to give you an estimate.

Yet another way is to use home building kits. Again go online and type in ‘home building kits’. There are many companies offering home building kits than contains everything (except labor) that you need to build a house. Then ask your construction company to quote for labor charges. Labor charges constitute a significant portion of the cost of building your own home and if you have the expertise, using a home building kit and building it yourself can reduce your estimate significantly.

No matter how precise or detail oriented you are in the planning stages, you must keep in that there may be an unexpected cost overrun. It is a safe practice to put away about 10 or even 15 % for contingency to ensure that you have the money to cover any overrun.

Home building costs can often times be very difficult to pinpoint. But if you use some of the methods described above, and by being precise and detail oriented, you will be able to come up with a very close estimate on your home building costs.

The Fair Housing Act

In United States the House passed The Fair Housing Act in 1968. The sole objective of The Fair Housing Act is to protect the home buyer’s and the renter’s rights from any discrimination by the seller or landlord. It also prohibits any sort of discrimination from the municipalities, mortgage lenders, banks or insurance companies whose discriminatory practices in any way inhibits a person’s right to housing facilities.

It also prohibits discrimination based on race or color, religion, sex, national origin, family status and disability. An individual can always file a case under this Act if he is denied the right to purchase or lease out property based on any of these factors. In addition to this even advertising that promotes inclination of any kind based on any of these factors can also be prosecuted under The Fair Housing Act.

Discrimination based on race and color

In most of the cases the buyers or renters are denied the right to housing due to fake declaration of unavailability of the same and they are directed towards other areas that are distinguished for that race or color. Although the law was passed in 1968 even then this has always been a major issue. In many cases it turns out that the victim is quite oblivious of the whole situation at that time and by the time he realizes it is quite late.

Discrimination based religion

The Fair Housing Act also prohibits discrimination against any member practicing a particular religion in a housing zone. Although the number of cases registered under this is fairly low as compared to cases registered under race or color and national origin. However this law does not restrict the use of non-commercial housing, operated by members of a particular religious community, for reserving housing for a member of that particular religion.

Discrimination based national origin

Any discrimination based on the national origin of a person has also been prohibited under the Fair Housing Act. The number of immigrants from all over the world is increasing every year and so does the housing need. Lots of cases come up where the seller or landlord deny or prefer person based on his national origin. Any discrimination of individuals based on his national origin by the seller, landlord or even mortgage lender can be prosecuted under this Act.

Discrimination based on sex

Women, mostly poor, with limited housing options are many times subjected to sexual harassment by the landlords wherein either they have to submit to the sexual favors of their landlords or vacate the house. Fair Housing Act also prohibits any discrimination based on sex of an individual. A woman also has the same housing rights that a man has.

Discrimination based on status of family

There are cases wherein families having children below 18 are denied any housing rights by the seller or the landlord. They deny saying that the family has more members than the house can accommodate comfortably. Most of the landlords like to lease out their property to working couples or families with grown up children. Such cases of discrimination or preference are also prohibited under The Fair Housing Act. But there are housing that is designated to the elderly or the seniors completely. Such housing is excluded from the list of prohibitions of the Act.

Discrimination based on disability

The Fair Housing Act protects the right to housing for all types of disability wherein the individual can be disabled due to blindness, hearing impairment, mobility impairment, HIV infected, drug addict, alcoholism, mentally retarded, head injury, mental illness. Any discrimination based on these factors can be subject to prosecution under this Act. Any person with disability also has the same rights as any other normal person. So why deny them the housing right.

Concerns While Choosing a Luxury Commercial Apartment

Luxury and convenience are the two most important factors that you should keep in mind while you analyze a residential or a commercial apartment. Nowadays, most of the people want to work in a homely atmosphere. Working and staying in comfort have now become quite easier with the available corporate yet residential apartments.

When the word “luxury” comes in mind, you generally visualize the interior space and the decoration. While you are selecting a corporate housing, you should look for several aspects that are essential to make your stay comfortable and hassle-free. Here are some concerns that help you to purchase a commercial apartment.

Consider The Geographical Location:

A good location always affects your lifestyle. Thus, you should select a place which is near to the main city yet away from the noises and chaos. If you have long-term plans for staying in that place, it is better to check the surrounding area and know about the climate, as well. Working always requires a peaceful surrounding. You can also choose a place near the sea beach to experience the nature.

The Exterior and Interior Infrastructure:

After selecting the site, your next concern is infrastructure. Commercial apartments with two-three rooms are best. Each of the flats should have a balcony to enjoy leisure times with the family. Private BBQ and pool area is important to relax with the friends. When you are evaluating the interior of the rooms, you should the check the gap between the ceiling and the floors. The floor-to-ceiling height is always an important factor to consider.

Safety and Security Measures:

After checking the infrastructure, you should look for the security features of the building. Security always stands a primary concern for the people living in the apartments. Each of the apartments should have a separate security system and a locked storage shed. There should be CCTV at each turning of the building for safety purpose.

Kitchen Area and Entertainment Facilities:

If you are planning for long-term stay, then the commercial housing should have a kitchen with latest appliances. You can cook your favorite food in your own kitchen. You do not have to waste time in purchasing food from restaurants. Cooking becomes easier and comfortable when you have all the appliances in your kitchen. At last, you should look for the entertainment facilities. There should be HD television and music systems inside the living rooms to make your stay luxurious.

These are a few considerations you should look in a commercial accommodation. The interior decoration also matters. You will feel comfortable if there are couches, luxury beds and sofa sets inside your living rooms. Start looking for a commercial housing with luxurious facilities to stay like a king.