Construction costs rising for luxury homes
Lately, several of Alice’s clients have been shocked to learn that increases in the cost of construction have risen to $200-$300 per square foot in some area housing developments. But Alice says the increases are not surprising considering the lofty plans that a growing number of people have for their primary residences. No longer content with a master bedroom, three baths, and a view of the golf course, American homebuyers are demanding more square footage, luxury materials, professional grade appliances, and high-tech heating, cooling and electrical systems. Of course builders, heeding these trends, are offering the latest high-end features, fixtures and materials in the model homes they are building in luxury developments.
For those who are in love with their kitchens, a top-of-the-line stove from the local appliance store no longer measures up. Instead, they are insisting on brushed chrome, restaurant-style stoves with multiple burners and ovens. Their requirements likely will include cabinetry constructed of hand-rubbed hardwood and outfitted with custom hardware. Solid surface countertops will be upgraded to granite.
While the kitchen is often the costliest room in a palatially appointed home, the bathroom is looming large on the ledger sheet. For luxury homes it’s not unheard of to sink $30,000 in bath fixtures that could rival those found at a Palm Springs health spa. Instead of a simple bathtub, some buyers might insist that the bath in the master suite accommodate a marble “soaking tub” measuring up to seven feet in length and as much as two feet deep. The room will also feature a two-person shower alcove fitted with sitting ledges and multiple showerheads that spray water from various angles.
Since homeowners can spend well over $10,000 for high definition, wide screen TVs for their home theaters, it’s to be expected that they will require surge protection systems to rival those found in high-tech office buildings. The increasing demand for “smart” home features has certainly impacted the cost of new-home construction. The appliances, audio/video equipment, lighting, and heating/cooling systems that are designed to be controlled by the house computer are usually more expensive than equipment that is not digitized. Also, the design and installation of a smart home system requires the expertise of an electronics architect and necessitates the use of special wiring to transmit digital data, as well as outlets, ports or jacks each with dedicated lines feeding back to a service box.
With demand for trend conscious treatments remaining high, luxury products and materials becoming increasingly accessible, and more technological advances on the horizon, Alice expects the high cost of construction to continue its upward spiral.
Source: © Alice Dahlgren's AtHome Newsletter
