Building costs in Utah are rising almost daily since the pandemic. However, it shouldn’t be a cause for alarm if you plan to build soon. If you want to build a house, you’ll need to plan accordingly and know all the expenses awaiting ahead.
Some of the main costs that you may encounter include:
- Land purchase
- Home appraisal
- Building permit
- Land preparation
- Building materials
- Labor costs
- Windows and doors
- Paint and interior design
- Utility installation
Apart from these costs, you may need to set aside money in case of eventualities or supply shortages. Once you calculate all of the above items, you’ll have a better idea on how much it’ll cost to build a house in Utah in 2022 and how much you need to save. So, how much does it cost to build a house in Utah in 2022?
If you don’t already have your piece of land, you’ll need to purchase one. Like in all places, land prices vary depending on the location and the market season. Most developed towns have more expensive land due to the high demand and low availability of the commodity. However, the prices can be significantly lower in less developed places since fewer people are looking for land there.
If you choose to live in a place like Salt Lake City, you might find land there quite expensive compared to other cities in Utah. Most of the population can be found in large cities, Utah is no exception to this, making land in larger cities higher in demand and therefore more expensive. Land in Utah can cost from $50,000 to up to a million depending on where it is. Therefore, your building costs in Utah will vary with the location.
Home Appraisal Costs
A home appraisal is essential for any house construction, especially if you need to take a loan to finance the project. The appraiser needs the home plan from the contractor and a list of all the building necessities to know the cost of everything involved. The appraisal determines whether you get your financing or not since the lender will have to weigh their capacity to handle the risk. Recently, home buyers have been waiving their appraisal to get into a home, but this is not the norm.
The appraisal primarily estimates depending on how the final outcome would look, thus helping everyone know the value of your upcoming home. The normal range for an assessment is between $450 and $675 for single-family homes and more for multi-family structures.
Permits and Preparation Costs
You must acquire a building permit before any construction can begin. The city won’t grant you permission for the actual construction, electric wiring, and plumbing. Permit costs however are relatively low. These shouldn’t cost you more than $3000. And this expense doesn’t significantly increase the cost to build a house in Utah in 2022.
Depending on where you bought the land, you must prepare the ground for construction. The preparation may include digging out bushes, weeds, and trees, removing stones and rocks, and leveling the portion you intend to build. You need to get a surveyor who will help you select the best place for the house to stand. This adds to the building costs in Utah by about 5 to 10 thousand.
Building Materials and Transportation Costs
Before settling on where to get your materials, do your due diligence and thoroughly research all vendors and their prices. Purchasing from a wholesaler may be cheaper than a retailer since you are buying in bulk. Due to the unstable post-pandemic economy, the costs of materials keep changing and may inconvenience you if you purchase at different times. However, you may spend about half of your building costs in Utah on construction materials.
When choosing where to purchase materials, consider the cost of transporting those products to the construction site. With the high cost of fuel right now, it would not be wise to get the materials from somewhere closer to your construction site since traveling back and forth may hike up your expenses. The balance between paying for the transportation and getting a fair price for the materials is critical to cutting unnecessary costs.
The cost of labor works with the demand and supply of the services. In Utah, depending on where you’re building, there should be enough construction workers, and thus the price may not be too high. But some areas don’t and labor costs will be higher. Additionally, the labor may be higher than in the previous years due to economic fluctuations.
The labor supply is kept constant by the consistent intake of new people into the construction force even as the older generation retires. Through this, Utah continues to have an abundant supply of any worker you may require for your construction site.
The Foundation and Basement Costs
Before the structure goes up, you need to pay serious attention to the building’s foundation. The higher the building will go, the stronger the foundation should be. The average cost could range from $27000- $60000, depending on the kind of foundation. Basements cost about $100-$2500 per square foot.
If you don’t want to incur a lot of expenses, you can opt for a crawl space instead of a basement. They vary depending on the size of the foundation wall and can range between two to five thousand. Choosing between a basement or crawlspace will impact your cost to build a house in Utah in 2022.
Windows, Doors, and Roofing Costs
Doors, windows, and roofing costs depend on the material and design of choice. Since there are several options in the market, what you choose determines the cost you will undergo. Between windows, doors and roofing, these three may cost you about 30 to 50 thousand to purchase and install. However, this is separate from the furnishing costs to make doors and windows appealing. The deeper your pocket is, the more you can spend on the material and design of these products. Since these three items add to the aesthetic value of the building, you may want to choose a well-designed item from a relatively affordable material.
Paint, Design Finishes, and Interior Decor Costs
The beauty of a building is not just in the structural uniqueness but also in the paint job and the finer design details. The color combinations play a significant role in making the building stand out. With a professional designer, they can uniquely combine your favorite colors to ensure they give you an excellent exterior finish. This could cost you approximately $20000 to $30000.
When you enter the house, the interior décor and design should complement the structure’s plan. You need to employ the services of an established interior designer to plan the color combinations of each room, lighting, and structural additions like shelves and cabinets, flooring, and wall finishes.
This part of the construction happens in the final stages to put everything in order and add to the home’s beauty. Adding wallpaper and basic furnishings changes the home’s entire appearance, giving you a warm welcome whenever you step in. An interior decorator’s work could add about $60000 to $100000 to your building costs in Utah.
Utility Installation Costs
Construction is not over until you install electricity, water, gas, and the HVAC system. These items help run the house comfortably. The HVAC system helps in heating, ventilation, and air conditioning to ensure that the house remains at the required temperature depending on the season. Having this in your home may require about $15000-$20000.
Installing electricity may add about 10 to 20 thousand to your expenditure, while plumbing may be between $20000 to $25000. Once all these systems are well functional, the house is ready for its occupants’ stay.
How to Reduce The Expenses
Building a home in Utah in 2022 is a lot more expensive than just a couple years ago. But it still can be an affordable option if you want to own a home sooner than later. You can cut down on your home building costs by doing the following:
- Purchase materials from a wholesaler who has most, if not all the products you need.
- Cut off unnecessary expenses.
- Stick to the building’s plan and avoid alterations.
- Buy land in an affordable region.
- Do not build an unnecessarily huge house.
- Help out by doing some DIY projects to cut labor costs.
- Use a simple structure and roofing design.
- Use a well-known builder.
- Build during the off-peak season.
- Do your own interior decorating.
These decisions will help you reduce your building costs in Utah in 2022 and save you the headache of running out of resources. Minimal expenses will also guarantee faster access to your lender funding, thus making your life easier.
Learn More About The Costs Of Building A Home In Utah In 2022
Raising a house from the foundation to roofing is not easy. You need enough financial muscle to help you through the process and prevent stalling the project. Once you get a reliable, detailed appraisal, your lender will have no trouble funding your project, whether the house is for sale or your occupation. Get a reliable builder who will constantly update you on the work’s progress and produce quality results that will last decades. Remember to insist on quality every step of the way to keep from suffering losses when the time comes to sell the house.
It’s essential to remember that the faster you finish the building, the better since you will not have to apply for another appraisal. Contact us at ExcelAppraise at 1-801-882-2292 for a reliable inspection or a free quote.